Reinsurance News
SCOR 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.
SCOR promotes McMurdo to Reinsurance CEO as Blanc announces retirement
14th June 2022
Stuart McMurdo is set to replace Michel Blanc as Chief Executive Officer (CEO) of Reinsurance at SCOR, with the latter set to retire in January 2023 after 31 years of service. The French reinsurer notes that, effective immediately, McMurdo and Blanc will work very closely together to ensure a smooth transition ... Read the full article
Reinsurers to absorb bulk of $2bn+ Ever Given claims, says SCOR
9th June 2022
A majority share of more than $2 billion in claims is the potential sum reinsurers will absorb from the losses caused by the blocking of the Suez Canal because of the lodging of the Ever Given, according to global reinsurer SCOR. Last year, the ultra-large container ship blocked the largest man-made ... Read the full article
Appetite for underwriting property cat reinsurance business tightening
1st June 2022
Earnings pressure and ongoing uncertainty around the impact of climate change is reducing the appetite for underwriting property catastrophe reinsurance business, says the newest edition of Aon’s Reinsurance Aggregate (ARA). The study said that while the sector should be ‘applauded’ for dealing with significant volatility over the last five years and ... Read the full article
SCOR sponsors new catastrophe bond
1st June 2022
SCOR has sponsored a new catastrophe bond called Atlas Capital Reinsurance 2022 DAC. According to the firm, the new bond will provide the group with a multi-year risk transfer capacity of $240m to protect itself against named storms in the U.S. and earthquakes in the U.S. and Canada, as well as ... Read the full article
SCOR announces first underwriting exclusions on oil
18th May 2022
During its recent Annual General Meeting, global reinsurer, SCOR announced its first underwriting exclusions on oil, as the company announced the end of coverage for new oilfield projects by 2023. The French reinsurer did state that it will make exceptions for oil projects of "companies aligned with Net-Zero by 2050". SCOR has ... Read the full article
SCOR backs Amynta Trade Credit Solutions
17th May 2022
Insurance services company, Amynta Group, has partnered with French reinsurer SCOR on the launch of Amynta Trade Credit Solutions, a new platform designed to provide a responsive and focused approach to trade credit insurance in the U.S. The new MGA will be led by Harpreet Mann as President of Amynta Trade ... Read the full article
Fitch turns negative on SCOR
11th May 2022
Fitch Ratings has changed its outlook on SCOR from stable to negative, due to concerns that the reinsurer may not deliver a financial performance in line with its ratings over the next year to two years. At the same time, the rating agency affirmed the insurer financial strength (IFS) and long-term ... Read the full article
SCOR reports €80m loss in Q1, but premiums up with strong growth in P&C
6th May 2022
Global reinsurer SCOR has reported a net loss of €80 million for the first-quarter of 2022, as the firm's natural catastrophe ratio exceeded budget, COVID-19 continued to impact life and health (L&H), and it reserved for losses related to the war in Ukraine. The net loss compares with income of €45 ... Read the full article
SCOR collaborates with machine learning powered financial security platform
29th April 2022
Global reinsurer SCOR has announced that it is collaborating with Onuu – an all-in-one banking and insurance solution across the US. Founded by serial entrepreneurs, Felix Ortiz and Ryan Wuerch, Onuu is designed with Americans of modest means in mind, offering a personalised membership with access to life insurance, credit and ... Read the full article
SCOR makes Nicolas Berg US CEO for P&C
21st April 2022
SCOR has named Nicolas Berg as US Chief Executive Officer (CEO) for property and casualty (P&C), where he will oversee all US-based P&C activities across both specialty insurance and reinsurance. The announcement was made in a LinkedIn post that said Berg would begin in his role on 25 April. Alongside oversight of ... Read the full article
SCOR and ReMark partner with Atidot on insurance solution
20th April 2022
Global reinsurer SCOR and its subsidiary ReMark have entered a partnership agreement with Atidot on a solution designed to increase in-force business value for life insurers, which analyses policyholder behaviour and develops marketing strategies. The solution combines Atidot’s artificial intelligence and data modelling platform, with ReMark’s solid marketing expertise and consumer ... Read the full article
SCOR expects high double-digit EUR million impact from Ukraine conflict
18th April 2022
French reinsurance company SCOR warned that it anticipates booking a first-quarter charge in the "high double-digit EUR million range" for potential losses related to the Ukraine - Russia conflict and that its result for Q1 2022 may be a loss. SCOR is the first of the major global reinsurance firms to ... Read the full article
Allianz latest to rule out insuring East African Crude Oil Pipeline
11th April 2022
Allianz has become the seventh insurer to commit to not providing coverage to the East African Crude Oil Pipeline (EACOP). The pressure group #StopEACOP says that the insurer has sent it an email to confirm that they will not be ‘providing direct insurance’ to the project since ‘it neither meets our ... Read the full article
SCOR Syndicate names Marie Biggas as CUO of SCOR UK
1st April 2022
SCOR Syndicate has appointed Marie Biggas as Active Underwriter and Chief Underwriting Officer (CUO) of SCOR UK, where she will report to both Stuart McMurdo, CEO of SCOR P&C EMEA and the SCOR Syndicate and to Olivier Perraut, Global CUO Single Risks. Prior to her appointment, Biggas was Vice President, Deputy ... Read the full article
Tailored insurance solutions for climate risk are key for agriculture: SCOR
29th March 2022
In a recent report, global reinsurer SCOR has assessed the impact that climate change can have on key natural perils that affect insurers and reinsurers, saying it’s important that solutions are developed to address the evolving risk landscape. The report was released in the second part of the reinsurers technical paper ... Read the full article
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