French reinsurance company SCOR has promoted Jean-Paul Conoscente to the role of Chief Executive Officer (CEO) of SCOR Global P&C after its current leader Victor Peignet decided to retire.
Conoscente was previously the CEO of Reinsurance with the SCOR Global P&C unit, the property and casualty underwriting division of the global reinsurer.
Following 35 years working for the SCOR Group, Victor Peignet has decided to retire for personal reasons, the company said.
Conoscente will also join the SCOR Group Executive Committee after taking on the role of CEO SCOR Global P&C. The appointment will be effective from April 1st 2019.
Denis Kessler, Chairman & Chief Executive Officer of SCOR, commented on the news, “On behalf of the Board of Directors and the Executive Committee, and on my own personal behalf, I would like to thank Victor Peignet wholeheartedly for his immense contribution to the SCOR group over the past 35 years. I salute his visionary leadership, his great intelligence, his exceptional work ethic and his strong passion for reinsurance, which have positioned SCOR Global P&C in the top tier of the industry.
“Victor’s career path has been exemplary in every way. Victor has left a profound mark on the Group, he has shaped a culture that combines expertise and integrity, which the teams he has built will perpetuate. It has been a pleasure for me to work with him on the Group’s recovery and subsequent development, with total confidence and in perfect complicity. I fully respect his decision to leave the Group for his own personal reasons. I know it has not been an easy decision to make, but it is an important one for his family and for himself. All of the Group’s bodies, the Board of Directors, the Lead Independent Director, the Executive Committee and the Boards of all the subsidiaries unanimously express their warmest thanks to Victor.
“I am very pleased that Jean-Paul Conoscente is taking the reins of the SCOR Global P&C division. Jean-Paul joined the Group in 2008 in New York, where he headed SCOR Global P&C’s North American business, before taking charge of all reinsurance business across the division. A Franco-American, Jean Paul is a true P&C reinsurance professional. His intellect and his human qualities are widely recognized. With his Deputy CEO Laurent Rousseau1, I know that Jean-Paul will continue Victor Peignet’s work successfully, while bringing his own vision to the SCOR Global P&C division and the wider Group.”
Conoscente began his career in insurance and reinsurance working in risk modelling at EQECAT, then at reinsurance broker Benfield, followed by some time at Paris Re before joining SCOR in 2008.