Reinsurance News
10th September 2017
Speaking at the annual meeting of the reinsurance industry in Monte-Carlo, Denis Kessler, the Chairman and Chief Executive Officer (CEO) of SCOR, said the industry is going to be shaken up by the impacts of hurricane Harvey and hurricane Irma. After devastating parts of the Caribbean, Cuba and the Bahamas, hurricane ... Read the full article
25th August 2017
As hurricane Harvey continues its track towards the state of Texas as a Category 2 storm, expected to intensify to a Category 3 storm as it makes landfall late Friday or early Saturday, the expected loss remains uncertain. However, J.P. Morgan expects roughly 50% of the insured loss to be ... Read the full article
24th August 2017
French reinsurance firm SCOR is opening a new SCOR Global P&C SE representative office focusing on non-life reinsurance in Nairobi, Kenya. Following up on an initial approval granted in April 2016, the Insurance Regulatory Authority of Kenya (IRA) has now confirmed that it approves the opening of a SCOR Global P&C ... Read the full article
17th August 2017
With the peak of the Atlantic hurricane season approaching uncertainty remains for European reinsurers driven by the potential for large losses, but with annual catastrophe budgets being relatively high, only the most severe loss event would start a turn in the market, according to RBC Capital Markets. Based on historical data, September ... Read the full article
27th July 2017
French headquartered global reinsurance firm SCOR has reported another set of results which are largely in-line with or beat analyst expectations, while also showing that the firm continues to expand its footprint globally. At a time when many in the reinsurance market have been pulling-back, or contracting their reinsurance underwriting while ... Read the full article
20th July 2017
SCOR subsidiary, ReMark International, has named Na Jia, an industry veteran with over 20 years re/insurance experience, as its new Chief Executive Officer (CEO) and Head of Global Distribution Solutions at SCOR Global Life, working as a member of the segment's Senior Management Team. Jia’s appointment comes into effect from July ... Read the full article
17th July 2017
French reinsurance giant SCOR has announced this morning that it is to acquire the remaining shares of MutRé S.A., a reinsurer that SCOR has held a 33% stake in since 1998. MutRé S.A. is a mutual reinsurer, established to serve the social economy in France and a particularly major player in ... Read the full article
12th July 2017
Pension Insurance Corporation plc (PIC) has entered into a £1 billion (US$1.28bn) longevity reinsurance transaction with French reinsurer SCOR, meaning the insurer has now reinsured over 70% of its overall longevity risk. In a statement, PIC explains the new reinsurance agreement covers the longevity exposure of roughly 7,000 in-payment lives and ... Read the full article
3rd July 2017
Zurich Assurance has signed a longevity hedge swap with Skanska Construction Services Trustee covering £300 million of liabilities, with Mercer acting as lead advisor to the trustee on the deal. 75% of the longevity hedge was reinsured by SCOR, with Zurich retaining the rest. Jim Sykes, Chief Executive Officer (CEO) of Zurich ... Read the full article
29th June 2017
SCOR Global Life Americas has reported a series of changes to its Senior leadership, naming Von Peterson as Group Reinsurance team's Vice President of Sales and Marketing and Brian Anderson's promotion to head of Group Life & Accident product lines to succeed Mark Laulainen who is set to retire from ... Read the full article
22nd June 2017
SCOR Global Life Australia has appointed Debra Pitcher as chief underwriter and Dr John Cummins as chief medical officer as it builds its team to expand local operations, the Financial Standard reported. Pitcher will assume responsibility for the Australia and New Zealand life reinsurance underwriting strategy and focus on developing client solutions. She ... Read the full article
16th June 2017
French insurer and reinsurer SCOR's international life and health reinsurance subsidiary, SCOR Global Life, has entered the U.S. medical reinsurance market with an experienced team based in Minneapolis, U.S. Paolo De Martin, Chief Executive Officer (CEO) of SCOR Global Life, said; "We are a market leader in US life reinsurance and ... Read the full article
6th June 2017
French insurer and reinsurer SCOR has announced the appointment of seasoned longevity risk transfer executive, Wolfgang Murmann, as its new Head of Longevity for Europe, the Middle East and Africa (EMEA). The appointment of Murmann, who has a solid track record in longevity risk transfer markets and joins from asset management firm, Insight Investment, will enable ... Read the full article
30th May 2017
International financial rating agency Standard & Poor's (S&P) has placed its 'BBB+' financial strength rating of French re/insurer SCOR's Brazilian subsidiary, SCOR Brasil Resseguros S.A. (SCOR Brasil), on CreditWatch negative. The move comes in response to the rating agency placing its 'BB' long-term foreign and local currency sovereign credit ratings on ... Read the full article
16th May 2017
French reinsurance firm SCOR has announced the appointment of Graeme Scott as its EMEA Casualty Chief Underwriting Officer, hiring him from his most recent position as Head of Inwards Reinsurance at Markel International. Scott joins SCOR today and will be based in London for the reinsurer, where he will lead a ... Read the full article
