Reinsurance 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.
21st September 2020
Risk management and insurance company, NationsBuilders Insurance Services, Inc. (NBIS), has announced a new partnership with member companies of SCOR to support its insurance solutions for the Specialised Transportation/Heavy Haul Industry. Coverage lines provided for the program offered exclusively by NBIS and the SCOR member companies include admitted and non-admitted Commercial ... Read the full article
17th September 2020
For the most part, pandemic had historically been viewed as a life catastrophe exposure, but the COVID-19 outbreak has shone a light on the potential impacts of a pandemic on the global property & casualty (P&C) sector. In a keynote held this morning as part of insurer and reinsurer SCOR's virtual ... Read the full article
15th September 2020
Senior executive officers from SCOR have said they are expecting to see increased demand for insurance as the market heads into the 2021 renewals, with primary players also looking to secure more reinsurance to protect their capital. Last week, SCOR said that it viewed current P&C market conditions as very ... Read the full article
11th September 2020
French reinsurance company SCOR has announced that it has successfully placed a dated subordinated Tier 2 notes issue amounting to €300 million (USD 355 million). SCOR says that the proceeds of the issuance will be used for general corporate purposes, with settlement expected to occur on September 17th, 2020. The coupon is ... Read the full article
9th September 2020
Global reinsurer SCOR sees current P&C market conditions as very positive and is anticipating growth with solid pricing dynamics, as the company absorbs the impacts of the COVID-19 pandemic. The French reinsurance company is the latest to note an expectation of continued rate hardening across the reinsurance sector, exacerbated by the ... Read the full article
2nd September 2020
Analysis of the Top 50 Global Reinsurance Groups reveals that, year-on-year, combined ratios trended higher for some of the largest players in the market in 2019 as underwriting profitability dipped for the cohort. When ranked by unaffiliated gross written premiums (GWP) in 2019, the top ten remains relatively unchanged year-on-year, ... Read the full article
27th August 2020
Global reinsurer SCOR has announced the appointment of Olivier Gay as Senior Vice President for SCOR Canada Reinsurance Company. Gay, who has held roles of increasing responsibility since first joining the company in 2010, most recently served as Deputy Chief Financial Officer with SCOR in Singapore for the Asia Pacific region. Prior ... Read the full article
24th August 2020
The four major European reinsurers - Munich Re, Swiss Re, Hannover Re and SCOR SE are among the top tier of global reinsurers by business profile, Fitch Ratings says. Large franchises and a high degree of diversification underpin Fitch's assessment of very strong business profile for each group. The capital adequacy of ... Read the full article
17th August 2020
SCOR’s Chief Executive Officer (CEO), Denis Kessler, has suggested that governments should “overhaul” their risk management policies after failing to respond effectively to the outbreak of the coronavirus. Speaking in an interview with l’Express magazine, Kessler said that the pandemic and the way it has been managed have revealed a steady ... Read the full article
14th August 2020
Despite the H120 results from the four major European reinsurers - Munich Re, Swiss Re, Hannover Re and SCOR - revealing considerable pandemic-related claims, the impact of the pandemic on the four reinsurers varied significantly. This is in part due to differences in exposure to lines of business affected by the ... Read the full article
11th August 2020
SCOR has partnered with Verisk, a leading data analytics provider, to develop a new tool designed to help life insurers fast track applications, by using data from consumer-authorized electronic health records (EHRs). The EHR Triage Engine streamlines the manual underwriting workflow – reducing decision time from weeks to minutes. The tool bypasses ... Read the full article
24th July 2020
Global insurer and reinsurer SCOR's gross reinsurance premiums grew 1.3% from €708 million to €717 million at the mid-year renewals, as the company took advantage of continued market hardening. The re/insurer notes "strong price growth momentum," reporting overall 8.2% price increases across its renewal book at the mid-year, with improvements materialising ... Read the full article
23rd July 2020
Global insurer and reinsurer SCOR has reported a net loss of €136 million for the second-quarter of 2020 and net income of €26 million for the first half of the year, as the estimated cost of the COVID-19 pandemic booked in Q2 reached €456 million. In Q2 2020, COVID-19 pandemic impacts ... Read the full article
16th July 2020
The French financial regulator has told re/insurers in the country to separate the roles of Chairman and Chief Executive Officer (CEO) to improve governance practices. In particular, the move will put pressure on Denis Kessler, who holds both roles at French reinsurer SCOR, and on Thierry Derez, who holds similar positions ... Read the full article
16th June 2020
Activist investor CIAM has renewed its attacks against SCOR’s management, once again calling on the reinsurer to provide clarity on its succession plans and to separate the roles of Chairman and CEO, both of which are currently held by Denis Kessler. This time, a letter penned by CIAM CEO Catherine Berjal ... Read the full article
