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.
AM Best revises outlooks on SCOR to negative
3rd October 2022
AM Best has switched its outlooks on SCOR SE and its main operating subsidiaries to negative from stable. The firm said that it had also affirmed the Financial Strength Ratings (FSR) and the Long-Term issuer credit ratings of A+ and aa-. It was from this that the firm revised the outlooks ... Read the full article
UK government-backed PI scheme for ESW1 assessors launches
26th September 2022
Acrisure partner MGAM, SCOR, Aon, and the UK’s Department for Levelling Up, Housing, and Communities (DLUHC) have said that the new government-backed PI insurance scheme for EWS1 assessors is now open for purchase. The scheme, initially announced in June 2022, is launching in response to the significant shortage of insurance ... Read the full article
Reinsurer nat cat experience year-to-date has been mixed, says JP Morgan
15th September 2022
According to a report from JP Morgan, Europe's big four reinsurers had mixed natural catastrophe experiences during the first half of 2022. It notes Munich Re is the only company to see losses below expectations at ~60% of the H1 budget, with only ~30% of the full-year budget utilized so far. ... Read the full article
Chris Beazley named CEO of SCOR UK & the SCOR Syndicate
12th September 2022
French reinsurer SCOR has announced that Chris Beazley, formerly of MS Amlin AG (now known as MS Reinsurance), has joined the firm as the new Chief Executive Officer (CEO) of both SCOR UK and the SCOR Syndicate, effective September 20th, 2022. Subject to regulatory approval, Beazley takes over from Stuart McMurdo, ... Read the full article
SCOR is a risk taker, not a risk trader: Laurent Rousseau
11th September 2022
In the face of challenging macroeconomic headwinds, SCOR is sticking to its governing principles and keeping hold of the risks that it chooses to underwrite, says Chief Executive Officer (CEO) Laurent Rousseau. Speaking during a press briefing at the RVS 2022 event in Monte Carlo today, Rousseau laid out the factors ... Read the full article
Cyber supply chain risk reveals re/insurance market challenges: SCOR
2nd September 2022
In a recent report, French reinsurance firm SCOR has addressed the potential challenges for the market amidst the growing concern of cyber-attacks on digital supply chains. SCOR states that cyber-attacks have been a growing anxiety over the last 18 months as traditional and IT supply chains are becoming increasingly entangled to ... Read the full article
Capital adequacy remains a key strength for Europe’s big four: Moody’s
31st August 2022
According to a Moody’s Investors Service report, falling bond and equity prices resulted in a significant decline in reported shareholders' equity, though capital adequacy remains a key strength for Europe’s big four reinsurers, confirming the cohort's capacity to absorb future shocks. Rising rates were positive for the sector’s regulatory Solvency II ... Read the full article
Nat cats a key consideration for Europe’s big four reinsurers in H2, says Moody’s
30th August 2022
Natural catastrophes have weakened Europe’s big four reinsurers' results in H1, and with the peak North Atlantic hurricane season still to come, there is a risk that they might do so again in H2, says a Moody’s investors service report. The four reinsurers reported combined net profits of €1.9bn in the ... Read the full article
Europe’s big four see P&C reinsurance underwriting performance deteriorate: Moody’s
26th August 2022
Europe’s big four average net combined ratio from property and casualty (P&C) reinsurance deteriorated to 98.9% from 95.5% a year earlier, with only Munich Re reporting a stronger P&C combined ratio, says Moody’s. The report suggests that the group's weaker P&C underwriting performance partly reflects several small to mid-sized natural catastrophe ... Read the full article
SCOR to combine P&C and L&H mandates under Ventures 2.5
19th August 2022
French reinsurance firm SCOR has announced the next phase of its Venture activities, with ‘Ventures 2.5’. Going forward, the P&C Ventures and L&H Ventures mandates will be combined into a single practice. The unified team will lead investments and partnerships with early-stage companies, working on solving problems across all (re)insurance lines of ... Read the full article
Munich Re remains the world’s largest reinsurance company
17th August 2022
After taking the top spot last year, global reinsurer Munich Re remains the world's largest reinsurance company, with gross life & non-life reinsurance premiums written of more than $46.8 billion in 2021, as shown by our directory of the Top 50 Global Reinsurance Groups. The directory is ... Read the full article
Neyme promoted to Head of Alternative Solutions for the Americas, SCOR
15th August 2022
Global insurer and reinsurer SCOR has promoted Cyril Neyme to Senior Underwriter – Head of Alternative Solutions for the Americas. Within this role, he will continue to based in New York. Most recently, Neyme served as SCOR’s Vice President for its US Casualty Treaty division. He first joined SCOR in 2014, where he ... Read the full article
SCOR well placed to handle shifting and uncertain landscape, says CEO
10th August 2022
Industry giant SCOR remains well placed to handle the current economic uncertainty, according to CEO Laurent Rousseau. Rousseau’s remarks came from the firm’s H1 2022 earnings call. Last week, the firm reported a net loss of €239m for the first half of 2022, driven by claims related to the drought ... Read the full article
“Insurers should continue embracing technological change” – SCOR CEO
1st August 2022
Insurers should continue to embrace technological change, writes Laurent Rousseau, CEO of SCOR in French newspaper Les Echos. Rousseau writes that technological innovation is the best way for reinsurers to best anticipate risks and incoming trends. He wrote: “This is what we are doing, making the best possible use of the ... Read the full article
AXA tops list of largest EU insurers ranked by GPW
1st August 2022
When ranked by gross premiums written (GPW) in 2020, AXA tops the list of the largest European insurance companies with USD 115.3 billion. The insurer also recorded USD 80 billion of capital & surplus from 2020. Based on research data from ratings agency AM Best, our directory ... Read the full article
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