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Activist investor CIAM condemns “destructive” governance at SCOR

27th September 2019

Activist investor CIAM has addressed a new letter to the management at SCOR, accusing it of ignoring shareholder interests by pursuing “destructive” governance strategies in its negotiations with Covéa last year. Catherine Berjal, CEO of CIAM, renewed her public condemnation of Denis Kessler’s conduct today in an appeal to Augustin de ... Read the full article

Evidence for rapid climate change “absolutely compelling”, says Kessler

10th September 2019

Denis Kessler, the Chairman and Chief Executive Officer of French reinsurer SCOR, has described the evidence for rapid climate change as “absolutely compelling” and called on the industry to share expertise. His comments, delivered at a conference this morning at the international rendez-vous of insurance and reinsurance, detailed the extent of ... Read the full article

SCOR needs more pricing improvements to be sustainable, warn execs

9th September 2019

The property and casualty (P&C) reinsurance market has seen some “useful” price firming in 2019, but further increases will be required to put SCOR back on track for sustainable profitability, according to its management. Speaking at the Reinsurance Rendezvous event in Monte Carlo, Chief Executive Officer (CEO) Denis Kessler said that ... Read the full article

Reinsurance an attractive industry with positive perspectives, says SCOR

5th September 2019

Global reinsurer SCOR has underscored its positive outlook for the reinsurance industry, describing it as benefiting from long-term growth drivers and solid foundations. SCOR this week announced the launch of its new ‘Quantum Leap’ strategy, a two-and-a-half year plan which emphasises the integration of technology, as the company looks to ... Read the full article

SCOR to invest €250m in tech-focused ‘Quantum Leap’ strategy

4th September 2019

Global reinsurer SCOR has launched its new 'Quantum Leap' strategy, a two-and-a-half year plan which emphasises the integration of technology, as the company looks to create the "reinsurance company of tomorrow.” This new strategy is SCOR’s seventh since 2002, and follows the ‘Vision in Action’ plan implemented in 2016. Over the period ... Read the full article

First project to utilise SCOR-backed solar energy cover announced

22nd August 2019

Venture-backed Managing General Underwriter Energetic Insurance has named the first solar energy project to use its EneRate Credit Cover. With initial capacity provided by SCOR Global P&C back in April, the product covers default risk for payments made by businesses, without a public credit rating, that purchase electricity through long-term power ... Read the full article

Uzbek insurer KAFOLAT secures reinsurance from SCOR & Canopius

20th August 2019

KAFOLAT Insurance Company JSC, an insurance company based in Uzbekistan, has secured reinsurance from companies including SCOR, Canopius Lloyd’s syndicate 4444, and Polish Re. The insurer believes that the backing of these reinsurance partners will help to keep its solvency at a high level, by sharing risks and eliminating potential threats ... Read the full article

“Radical” shift in market environment to persist into 2020, says SCOR’s Kessler

29th July 2019

The Chairman and Chief Executive Officer (CEO) of French reinsurer SCOR, Denis Kessler, expects market firming on both the primary and reinsurance side, particularly in the U.S., to continue into 2020. The global insurer and reinsurer recently announced strong and profitable growth for the opening six-months of 2019, supported by ... Read the full article

SCOR announces solid H1 performance on the back of strong renewals

25th July 2019

Global insurer and reinsurer SCOR has reported strong and profitable growth for the first six months of the year, supported by continued growth in Global P&C on the back of strong renewals. Group net income increased by 9.2% for the first-half of the year to €286 million, as the reinsurer recorded ... Read the full article

SCOR quashes CEO pay challenge with vote recount

20th June 2019

French reinsurer SCOR has verified the results of a recent shareholder vote on the level of remuneration received by its Chairman and Chief Executive Officer (CEO), Denis Kessler. The vote was originally held at SCOR’s AGM in April 2019, and was initiated by investment management firm and activist investor CIAM, ... Read the full article

SCOR Global Life strengthens in France with three promotions

12th June 2019

SCOR Global Life, a division of global insurer and reinsurer SCOR, has announced a number of promotions in France, strengthening its position in the country. Formerly the Head of Client Solutions for SCOR Global Life, Barthélemy Philippe has been promoted to Director of the French Market. In this role, Philippe will work closely ... Read the full article

SCOR launches second UK cat bond, securing $250mn of protection

3rd June 2019

French reinsurer SCOR has returned to the UK market for the launch of a second catastrophe bond, securing multi-year risk transfer capacity of $250 million to protect against named storms in the U.S, earthquakes in the U.S and Canada, and windstorms in Europe. Atlas Capital UK 2019 PLC will run from ... Read the full article

French regulator advises SCOR and Covéa to reconcile

29th May 2019

The French Prudential Supervision and Resolution Authority (ACPR) has advised that re/insurers SCOR and Covéa end their conflict in order to avoid financial instability, according to reports from Reuters. The two companies have been involved in a protracted dispute since SCOR rejected an €8.2 billion takeover bid from Covéa in ... Read the full article

SCOR grows ILS business with Coriolis Capital acquisition

23rd May 2019

SCOR Investment Partners, the SCOR group’s portfolio management company, has agreed to acquire 100% of the capital of Coriolis Capital Limited, an asset manager specialising in insurance-linked securities (ILS). Whilst SCOR has been active in the alternative capital space for 19 years, having issued its first catastrophe bond in 2000, the ... Read the full article

SCOR makes senior changes, promotes Jenkins to lead P&C reinsurance in Americas

16th May 2019

French reinsurance firm SCOR has announced a number of senior changes, including the promotion of John Jenkins to the position of Chief Executive Officer for P&C Reinsurance Operations in the Americas. Jenkins, who previously served as Chief Underwriting Officer, P&C Treaty for the Americas, will report to Jean-Paul Conoscente, CEO of ... Read the full article

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