Reinsurance News
21st January 2019
The International Regulatory and Development Authority of India (IRDA) says a total of $872 million in reinsurance premium was accepted by foreign reinsurance branches in 2017-18, with Swiss Re taking the largest share at $287 million. Munich Re and SCOR reported $183 million and $166 million, respectively. In the same time period, ... Read the full article
11th December 2018
SCOR has completed a reinsurance deal with Pension Insurance Corporation plc (PIC), a specialist insurer of defined benefit pension funds, that relates to £1.2 billion of longevity risks. The agreement covers the longevity risk of around 8,000 in-payment lives across six separate defined benefit pension schemes. It also marks the second such ... Read the full article
22nd November 2018
French reinsurance major SCOR has established SCOR Europe SE, a new Paris-based P&C specialty insurance company which the firm says will ensure continuity for its clients after Brexit. SCOR Europe SE has been approved by the French supervisory authority, the ACPR (Autorité de Contrôle Prudentiel et de Résolution), gaining a license ... Read the full article
14th November 2018
Thierry Derez, the Chief Executive Officer of French insurer Covéa, has resigned from his position on SCOR’s board following the rejection of an €8.2 billion (US $9.6 billion) takeover attempt in September. SCOR had recently released a statement reaffirming its rejection of Covéa’s “hostile and unfriendly” acquisition offer and called ... Read the full article
13th November 2018
SCOR Global Life, a division of the France-headquartered reinsurer, has said the Australia-based life insurance provider OnePath has succeeded in delivering customers a simpler and faster underwriting experience by utilising the behavioural economics insights and analytics it developed. SCOR Global Life says this has resulted in an improved application layout, simple ... Read the full article
25th October 2018
Global insurer and reinsurer SCOR is looking at its natural catastrophe budget and could increase it when planning for 2019 and beyond, according to the Chief Executive Officer (CEO) of SCOR Global P&C, Victor Peignet. The French headquartered re/insurer yesterday announced its results for the first nine months of the ... Read the full article
24th October 2018
French headquartered global reinsurance firm SCOR remains on track to achieve its Vision in Action plan targets after the first nine months of the year, despite a lower than expected third-quarter net income due to the impact of recent catastrophes. SCOR, like many other reinsurance firms, was always expected to take ... Read the full article
19th October 2018
The development of new technologies and scientific research are the key factors driving the growth and transformation of the risk universe, and have required re/insurers to significantly expand their “sphere of insurable risks,” according to Denis Kessler, Chief Executive Officer (CEO) of SCOR. In his opening presentation at SCOR’s 2018 Annual ... Read the full article
15th October 2018
SCOR’s overall portfolio pricing is “now almost back at the 2014 level” in terms of technical ratio, and at the 2015 level for the return on risk-adjusted capital, according to Victor Peignet, Chief Executive Officer (CEO) of SCOR Global P&C. Speaking in an interview with Reinsurance News, Peignet said that SCOR ... Read the full article
9th October 2018
SCOR shares have risen 19% since French insurance group Covéa first revealed its interest in acquiring the reinsurer, and are now approaching the €43 share price offered by Covéa’s initial €8.2 billion (US $9.6 billion) bid, according to J.P. Morgan. Analysts at the firm believe this continued strong price action ... Read the full article
2nd October 2018
Analysts at investment bank Berenberg have said that French reinsurance giant SCOR may pursue a merger deal with Bermudian reinsurer PartnerRe as a defence strategy following the rejection of what SCOR considered to be a “hostile and unfriendly” €8.2 billion (US $9.6 billion) takeover bid from Covéa last month. SCOR ... Read the full article
1st October 2018
Joseph Oughourlian, Founder and Managing Partner of long-time SCOR investor Amber Capital, has told the Financial Times that he believes SCOR was right to reject Covéa’s €8.2 billion (US $9.6 billion) acquisition bid, which valued SCOR’s shares at €43 per share. Oughourlian, whose company has been an investor in Scor ... Read the full article
28th September 2018
French reinsurance giant SCOR has released a statement reaffirming its rejection of Covéa’s “hostile and unfriendly” acquisition offer of €8.2 billion (US $9.6 billion), and has called for Thierry Derez, Chief Executive Officer (CEO) of Covéa, to permanently resign from SCOR’s Board of Directors. SCOR said that a meeting of ... Read the full article
27th September 2018
Thierry Derez, Chairman and Chief Executive Officer (CEO) of Covéa, is to temporarily step down from SCOR’s Board of Directors following the rejection of an €8.2 billion (US $9.6 billion) acquisition offer made by Covéa last month. Covéa said that Derez would withdraw from the Board until the 2019 annual shareholders’ ... Read the full article
24th September 2018
Denis Kessler, Chairman and Chief Executive Officer (CEO) of SCOR, has responded to a letter from activist investor CIAM, which urged the company’s management to continue negotiations with French insurance group Covéa following SCOR's rejection of a €8.2 billion (US $9.6 billion) acquisition offer. Catherine Berjal, President of CIAM, suggested ... Read the full article
