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Reinsurance News


SCOR successfully places $125m subordinated Tier 1 issuance

12th December 2019

Global insurer and reinsurer SCOR has announced that it's successful placed a perpetual deeply subordinated restricted Tier 1 Regulation S notes issue in the amount of $125 million. The issue price of the New Notes is 99.125% and SCOR states that it intends to use the proceeds of the issuance for ... Read the full article

SCOR renews €300mn catastrophe & mortality contingent capital facility

4th December 2019

Global reinsurance giant SCOR has announced the launch of a new three-year, €300 million contingent capital facility, providing the firm with protection against extreme natural catastrophes or life events impacting mortality. The facility takes the form of a contingent equity line, and is the fourth launched by SCOR, replacing as of ... Read the full article

Reinsurance sector is uniquely placed but can’t do it alone, say SCOR execs

2nd December 2019

The global reinsurance industry is well placed to help protect both societies and the economy, but it's important that the private sector works with governments amid the growing frequency and severity of disasters, according to a recent blog post by SCOR's Vincent Foucart and Eric Le Mercier. The need to improve ... Read the full article

SCOR’s Channel Syndicate agrees reinsurance to close transaction

11th November 2019

The Channel Syndicate at Lloyd's of London, which is part of global insurer and reinsurer SCOR's Specialty Insurance platform, has agreed a reinsurance to close (RITC) deal for its 2017 and prior years of account, subject to regulatory approval. In 2018, SCOR announced plans to consolidate its specialty insurance operations ... Read the full article

SCOR partners with tech firm Garmin to offer practical health solutions

5th November 2019

SCOR Global Life has collaborated with Garmin International, Inc. on a first-of-its-kind initiative that leverages an exclusive algorithm designed to motivate users to lead healthier lives. The collaboration with Garmin International, a subsidiary of US-based multinational technology company, Garmin Ltd., supports an initial launch of reinsurer SCOR's enhanced Biological Age Model ... Read the full article

SCOR confident it can “recoup” on Dorian & Faxai losses

25th October 2019

SCOR executives have said they are confident that the reinsurer will be able to "recoup" on its losses in the Caribbean and Japan due to the relatively short payback periods in both regions. The company released its financial results for the third quarter of 2019 yesterday, which saw “heavy loss ... Read the full article

SCOR beats target, as P&C expansion continues but reserve release helps

24th October 2019

SCOR, the French headquartered global reinsurance firm, reported its third-quarter results this morning, revealing that its targets continue to be exceeded in terms of returns, while growth in property & casualty lines continues apace. However, the reinsurer's P&C business almost fell to a technical underwriting loss in Q3 due to higher ... Read the full article

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

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