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.
Europe’s big four reinsurers well placed for a strong 2024: Fitch
2nd April 2024
Large European reinsurers posted very strong financial results for 2023, enabling them to bolster reserves and balance sheets and this will support ratings in 2024, according to analysis by Fitch Ratings. The ratings agency feels that Europe's big four reinsurers, Munich Re, Swiss Re, Hannover Re, and SCOR are well placed ... Read the full article
Europe’s big four reinsurers doubled combined earnings in 2023, says Moody’s
27th March 2024
Analysts at Moody’s Investors Service report that the four largest European reinsurers—Munich Re, Swiss Re, Hannover Re, and SCOR — achieved a combined earning of €10.2 billion in 2023, more than double their earnings in 2022, attributed to higher prices and improved investment returns. Moody’s report underscores that all four companies ... Read the full article
SCOR unveils simpler & more effective business structure
11th March 2024
French reinsurer SCOR has announced new structures within its Property & Casualty (P&C) and Life & Health (L&H) segments as the firm looks to become "a simpler and more effective organization", enabling more immediate client access and decision-making. SCOR has decided to simplify the structures within P&C and L&H, which for ... Read the full article
SCOR to pursue a more regional approach to casualty underwriting: CEO
6th March 2024
SCOR CEO Thierry Léger has revealed that the firm will stop underwriting US General Liability and Professional Indemnity single-risk business from Europe, deciding to only write it locally from the US in the future. Léger disclosed this information in SCOR's Q4 earnings call, noting that the decision will be effective for ... Read the full article
SCOR sees P&C combined ratio improvement as FY23 income hits record €812m
6th March 2024
French reinsurer SCOR has reported net income of €162 million for the fourth quarter and a record €812 million for the full year 2023, as the P&C combined ratio strengthened in both periods on the back of lower catastrophe losses. Net income for the quarter and the full year compares with ... Read the full article
SCOR confirms departure of reinsurance CEO Stuart McMurdo
4th March 2024
SCOR, one of Europe's big four reinsurers, has confirmed that Stuart McMurdo, Chief Executive Officer (CEO) of its reinsurance segment, is to leave the company. McMurdo joined SCOR in 2018 as CEO of SCOR UK and the SCOR Syndicate, later becoming Regional CEO for EMEA. In 2022, it was announced that ... Read the full article
European reinsurers’ 1/1 renewals outcome suggests underwriting margins close to peaking: Fitch
29th February 2024
Analysis by Fitch Ratings on the outcome of the key January 1st, 2024, renewals for European reinsurers claims that underwriting margins are close to peaking as supply and demand exhibits greater equilibrium. Earlier this year, Fitch warned that reinsurers’ underwriting margins are likely to peak in 2024, as the rating ... Read the full article
SCOR Korea partners with Lydia AI to enhance VUS and future risks
22nd February 2024
Global reinsurer SCOR's South Korean branch has strategically partnered with Lydia AI, a health AI start-up, to augment SCOR's Virtual Underwriting Solution (VUS) with point-of-underwriting predictive health analytics to create holistic end-to-end underwriting solutions. Rho Donghyun, Chief Executive Officer, SCOR Korea, commented, "Health and life insurers are challenged by the aging ... Read the full article
SCOR backs AIMCOR’s next-gen digital term life insurance product
21st February 2024
French reinsurer SCOR has joined forces with AIMCOR Group to usher in a new era of efficiency and accessibility in the term life insurance landscape. The new product, AIMCOR QuickLife, is powered by Techficient's Dynamic Platform, and is underwritten by Ameritas and reinsured by SCOR. By harnessing predictive data modeling and cutting-edge ... Read the full article
There will be pressure on cat pricing at the April renewals: SCOR P&C CEO
6th February 2024
Jean-Paul Conoscente, the Chief Executive Officer (CEO) of property & casualty (P&C) at French reinsurer SCOR, has said that it is likely that there will be pressure on pricing catastrophe programmes for the April renewals. Speaking during a conference call earlier today, Conoscente explained that SCOR is expecting to see positive ... Read the full article
SCOR grows P&C portfolio 13.6% at Jan reinsurance renewals
6th February 2024
Global reinsurer SCOR saw a rise in estimated gross premium income (EGPI) of 13.6% for P&C business at the January 1st, 2024, reinsurance renewals, above the average Forward 2026 strategic plan assumptions. SCOR notes that in line with its Forward 2026 strategic plan announced in September 2023, the reinsurer grew ... Read the full article
SCOR expands offshore renewable energy commitment with $180m consortium launch
1st February 2024
In a strategic move to bolster its presence in the offshore renewable energy sector, SCOR has officially launched a new consortium, instantly elevating its total deployable capacity to $180 million. The consortium, effective immediately, underscores SCOR's commitment to sustainability and its proactive role in supporting the global energy transition. With a focus ... Read the full article
Rose named Deputy Global Line Head, Cyber & Head of Cyber, Americas at SCOR
1st February 2024
Margaret Rose has been appointed to the role of Deputy Global Line Head - Cyber and Head of Cyber, Americas, at French reinsurer, SCOR. Based in New York, Rose has been with SCOR since 2016. When she joined the firm, she took on the role of Senior Underwriter within Professional Lines & ... Read the full article
Howden unveils carbon capture and storage insurance facility led by SCOR’s Lloyd’s syndicate
29th January 2024
Global insurance broker Howden's carbon capture and storage insurance facility aims to unlock crucial investment to support the global transition to net zero and is the second innovative solution from the firm designed to support the growth of the carbon market. This first-of-its-kind insurance facility provides cover for the sudden or ... Read the full article
SCOR to relocate London office to 8 Bishopsgate
12th January 2024
Global re/insurer SCOR has signed a 15-year lease for around 50,000 sq. ft office space with Mitsubishi Estate London and Stanhope. SCOR will take up over two and a half floors at one of London’s most sought-after office buildings, 8 Bishopsgate. Knight Frank and Newmark BH2 acted on behalf of Stanhope and ... Read the full article