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Reinsurance News
News on one of the world’s largest reinsurance companies, France headquartered SCOR.
SCOR is one of the leading global reinsurance company’s and our news covers SCOR’s news announcements, people moves, results and financial performance, as well as analysis of reinsurance market trends and interviews.
28th May 2020
SCOR has signed up to the Net-Zero Asset Owner Alliance, an international group of institutional investors that have committed to decarbonise their portfolios to net-zero emissions by 2050. Convened by the United Nations (UN), the Alliance aims to help avoid a global temperature increase above the 1.5°C Paris target, and already ... Read the full article
26th May 2020
Global insurer and reinsurer SCOR has announced that its Board of Directors has proposed that no dividend be distributed for the 2019 fiscal year, while Chairman and Chief Executive Officer (CEO) Denis Kessler has proposed that his annual variable compensation for the year be reduced by 30%. Following SCOR's performance in ... Read the full article
13th May 2020
Following French insurer Covéa's decision to pull out of its previously-agreed deal to purchase PartnerRe from Exor, speculation around a potential renewed bid for SCOR has resurfaced. As we reported earlier today, the acquisition of reinsurer PartnerRe by Covéa has been cancelled, after owner EXOR declined to renegotiate the price ... Read the full article
8th May 2020
Moody's Investors Service has affirmed SCOR’s Aa3 insurance financial strength rating as well as its debt ratings and the ratings of its subsidiaries. The outlook has been changed to negative from stable because Moody's believes the group is more vulnerable than other Aa3 peers in a stress scenario of higher mortality ... Read the full article
5th May 2020
Global insurer and reinsurer SCOR has successfully sponsored a new catastrophe bond transaction, providing the Group with $200 million of multi-year risk transfer capacity from the capital markets, to protect against storms in the U.S. and earthquakes in the U.S. and Canada. SCOR has returned to the catastrophe bond market with ... Read the full article
29th April 2020
Global insurer and reinsurer SCOR has reported a 23.7% rise in net income to €162 million for the first-quarter of 2020 and a P&C combined ratio of 94.5%, as the company reports a limited impact from the COVID-19 pandemic during the period. The French reinsurer states that although its Q1 results ... Read the full article
24th April 2020
SCOR CEO Denis Kessler has said that the coronavirus (COVID-19) pandemic has raised new questions about the role of the state and highlighted the need for more public risk management. Speaking in an interview with l’Opinion, Kessler said that after the crisis has cooled down, states will have to concentrate all ... Read the full article
22nd April 2020
SCOR Global P&C has reported a 6.6% overall increase in pricing at the April 1 renewals, which saw the reinsurer restructure some of its catastrophe business in Japan. The company grew gross premiums up for renewal by 5.7% at constant exchange rates to €504 million, and generated a 5.4% growth in ... Read the full article
20th April 2020
SCOR CEO Denis Kessler has cautioned against the introduction of a pandemic insurance scheme to mutualise operating losses for businesses, while acknowledging that the crisis could “change the course of history.” Speaking in an interview with Le Point, Kessler questioned the advisability and feasibility of relying on systems that mutualise business ... Read the full article
7th April 2020
SCOR has announced the appointment of Emmanuel Joffre as Chief Human Resources Officer with immediate effect, reporting to Group Chief Operating Officer, Romain Launay. Based in Paris after a transition period in New York, he will be responsible for all aspects of the Group’s human resources. Joffre previously served as SCOR’s Head ... Read the full article
1st April 2020
Activist investor CIAM has welcomed SCOR’s decision to postpone its annual general meeting (AGM), but has repeated its criticisms of the reinsurer’s executive pay levels, while also reiterating its call for a clear succession plan. In a letter to shareholders last week, CIAM CEO Catherine Berjal accused SCOR of ignoring ... Read the full article
31st March 2020
SCOR’s Channel Syndicate has appointed Caroline Coulson as a senior underwriter on the political and credit risks team within SCOR Specialty Insurance. Effective immediately, Coulson started on 23 March and will report to Kade Spears, global line head of the political and credit risks team. She was previously a senior political risk ... Read the full article
30th March 2020
French reinsurer SCOR has decided to postpone its annual general meeting (AGM) to June 30, 2019, due to concerns about the coronavirus (COVID-19) pandemic. The company had initially tried to pull its AGM much earlier this year, on April 17th, but drew sharp criticism from activist investor CIAM last week. In ... Read the full article
27th March 2020
Activist investor CIAM has renewed pressure on SCOR over the reinsurer’s decision to move its annual general meeting (AGM) forward due to the coronavirus (COVID-19) outbreak, while restating concerns about the level of executive pay at the company. In a letter to shareholders, CIAM accused SCOR of ignoring the market practice ... Read the full article
19th March 2020
Global reinsurer SCOR has called for industry-wide action to be taken over the unfolding coronavirus pandemic. SCOR’s executive committee described the re/insurance industry as having the mathematical expertise to understand the potential impact of the virus. SCOR described Life re/insurance in particular as having a unique alignment with the health and well-being ... Read the full article
