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Reinsurance News


SCOR hires Graeme Scott from Markel as EMEA Casualty CUO

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

Low cat losses but Ogden rate and reserve release impacts hit SCOR in Q1

27th April 2017

Global French insurer and reinsurer SCOR saw its net income decline in the first-quarter as it took a €116 million (US$126.4mn) pre-tax hit as a result of the Ogden rate cut in the UK, although this was somewhat offset by reserve releases and lower-than-expected catastrophe losses in the quarter. The ... Read the full article

SCOR establishes EMEA Hub led by Malcolm Newman

27th April 2017

France headquartered reinsurance company SCOR has announced the launch of a new EMEA Hub, covering Europe, the Middle East and Africa, a further step in its efficiency drive. The EMEA Hub will bring together SCOR's existing Paris-London and Zurich-Cologne Hubs, providing a much more simplified structure to the reinsurance group across ... Read the full article

Quota shares most efficient reinsurance option under Solvency II: Scor

12th April 2017

Scor has underlined quota shares as the most efficient form of reinsurance for insurer’s capital optimisation under Solvency II - as the industry continues to adapt to the regime's regulatory requirements since its implementation last year. In a recent report on capital optimisation, Scor analysts contrasted the three capital drivers of ... Read the full article

SCOR approved to open Japanese life & health reinsurance branch

3rd April 2017

French headquartered global reinsurance player SCOR has received approval to open a Japanese branch office for life and health reinsurance operations under its SCOR Global Life SE brand. The Financial Services Agency of Japan (FSA) has approved SCOR Global Life SE's application to open a branch office in Tokyo as of ... Read the full article

SCOR’s Isa Ennadifi joins XL Catlin’s Structured Risk Solutions team

28th March 2017

Insurer and reinsurer XL Catlin has announced that Isa Ennadifi has joined its insurance division from re/insurer SCOR, as Senior Underwriter, Structured Risk Solutions (SRS), effective March 28th, 2017. Ennadifi will be based in XL Catlin's London office, tasked with underwriting non-traditional solutions for captive and corporate clients. She joins XL Catlin's insurance ... Read the full article

European reinsurers disciplined in a tough market: Fitch

17th March 2017

Large European reinsurers continued to show discipline in a very challenging marketplace and broader economic environment in 2016, as reserve releases declined and companies reported a reduction in renewed business, according to the latest European reinsurance market report from Fitch Ratings. The profitability of European reinsurers remained pressured throughout 2016, with Fitch ... Read the full article

Major reinsurers combined ratios over 100% on normalised basis: Fitch

16th March 2017

On a normalised basis major European reinsurers combined ratios were over 100% last year, but industry players benefitted from unusually favourable circumstances with lower-than-expected major losses and large prior year reserve releases meaning carriers maintained resilience in a tough market, according to Fitch. This normalised combined ratio rate of over 100% means under ... Read the full article

SCOR targets move into Iran with reinsurance negotiations

8th March 2017

SCOR’s Global P&C CEO Victor Peignet, met the President and Head of High Council of Insurance of Bimeh Markazi Iran Central Insurance, Abdolnaser Hemmati last Sunday in Tehran, to negotiate potential for collaboration. The meeting follows the removal of sanctions against Iranian companies, which has seen world-leading re/insurers move in to ... Read the full article

SCOR expects to save up to EUR 200m from consolidation of legal entities

28th February 2017

One of the steps taken by French reinsurance firm SCOR to optimise its business in the new Solvency II world is a rationalisation, consolidation and reorganisation of its various legal entities, which once completed could save the company around EUR 200 million. As part of SCOR's latest strategic plan the firm ... Read the full article

SCOR grows longevity reinsurance business in 2016

27th February 2017

French insurer and reinsurer SCOR reported growth in its longevity business during 2016 driven by a strong fourth-quarter for the segment, with the company highlighting growth potential with life business in the UK and elsewhere. The majority of insurance and reinsurance companies have now reported their results for the fourth-quarter and ... Read the full article

SCOR makes changes to retrocession reinsurance leadership

24th February 2017

Global insurer and reinsurer SCOR has announced leadership changes within its retrocession reinsurance business, revealing that Emmanuel Fierens is to replace Augustin Gas and take charge of SCOR's retrocession reinsurance operations. Emmanuel Fierens is leaving his role as Head of SCOR Business Solutions to take on the role of Deputy Head ... Read the full article

SCOR appoints Rachel Conran to Head of Business Solutions

23rd February 2017

Reinsurance firm SCOR Global P&C has appointed Rachel Conran as its new Head of SCOR Business Solutions - the business unit dedicated to large corporate risks. In her new role, Conran will report to Benjamin Gentsch, Deputy CEO of SCOR Global P&C and Head of Specialty Lines, she succeeds Emmanuel Fierens, ... Read the full article

SCOR ready to leverage “positive prospects” in reinsurance

22nd February 2017

French reinsurance company SCOR has delivered another strong result this morning despite the softened state of the reinsurance market, reporting EUR 603 million of net income and a return on equity of 9.5% for 2016. Those figures are down slightly on 2015, but that is to be expected given the state ... Read the full article

SCOR makes senior promotions across Global Life business

14th February 2017

French reinsurance firm SCOR has announced a number of senior appointments in its Global Life reinsurance business unit, as it promotes a number of staff from within. Paolo De Martin, Chief Executive Officer of SCOR Global Life, commented; "With today's promotions we continue to optimally position SCOR Global Life for the ... Read the full article

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