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Reinsurance News


“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

SCOR CEO calls for cyber ‘Richter scale’: reports

13th May 2019

The re/insurance industry must act together with the relevant authorities and design a common, global scale with which to accurately assess cyber loss events, according to Denis Kessler, the Chief Executive of French reinsurance giant SCOR. “It would be very helpful to have measurement and modeling tools,” Kessler added, suggesting something ... Read the full article

EU General Court confirms legality of French Natural Disaster scheme

7th May 2019

The General Court of the European Union (EU) has backed the natural disaster reinsurance scheme operated by the state-backed re/insurer Caisse Centrale de Réassurance (CCR), as well as the guarantee granted to CCR by the state in this capacity. French reinsurance giant SCOR had in 2016 disputed that the state aid ... Read the full article

Climate factors to be “fully integrated” into SCOR’s new strategy: Denis Kessler

30th April 2019

French reinsurer SCOR intends to “fully integrate” a range of climate risk management approaches into its next strategic plan, according to Chairman & Chief Executive Officer (CEO) Denis Kessler. Kessler’s comments came alongside the announcement of SCOR's commitment to more stringent underwriting exclusions for coal-based businesses, which climate activist group ... Read the full article

SCOR & AXA commit to more coal exclusions

26th April 2019

French re/insurers SCOR and AXA have both committed to strengthening their coal exclusion policies in an effort to limit the effects of climate change, according to environmental campaigners at Unfriend Coal. A representative from the activist group questioned the companies at their annual general meetings this week, who both claimed to ... Read the full article

SCOR says shareholders oppose destabilisation attempt by CIAM

26th April 2019

SCOR has announced that its shareholders have voted to approve all resolutions proposed by the company’s Board of Directors, upholding Denis Kessler's position as both Chairman and CEO, and maintaining his current level of remuneration. The votes, held today during SCOR’s annual general meeting (AGM), rejected the "destabilising" resolutions proposed by ... Read the full article

SCOR’s net income drops -21% in Q1, as typhoon loss creep bites

26th April 2019

French global reinsurance player SCOR has reported net income of EUR 131 million for the first-quarter of 2019, which is 21% lower than the prior year thanks to a EUR 53 million dent made by loss creep from Japanese typhoons Jebi and Trami. Loss creep looks set to become one of ... Read the full article

Covéa looking to diversify into reinsurance through M&A, reports Reuters

23rd April 2019

The Chief Executive Officer (CEO) of French insurance group Covéa, Thierry Derez, has said that the firm is eager to diversify into the reinsurance industry through acquisitions, reports Reuters. In January 2019, Covéa decided to abandon plans to pursue an acquisition of reinsurer SCOR after the firm rejected an offer ... Read the full article

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