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.
SCOR sees ratings downgrade from S&P
18th November 2022
S&P has downgraded SCOR SE’s long-term issuer credit and financial strength ratings to ‘A+’. In moving SCOR from its previous rating of ‘AA-‘, S&P cited weak results at this point in 2022, along with droughts in Brazil, high natural catastrophe losses, and reserve strengthening in the property and casualty segment, along ... Read the full article
European reinsurers see earnings drop in first nine months of 2022: Fitch
18th November 2022
A new report from Fitch Ratings says that the earnings of Europe’s four main reinsurers fell over the first nine months of this year, compared to the same period in 2021. The firm said that this was because of higher natural catastrophe losses, weaker investment returns, and reserve strengthening. On average, ... Read the full article
Martine Gerow joins Board of Directors of SCOR
16th November 2022
SCOR has announced that its Board of Directors has decided, upon the proposal of the Nomination Committee, to co-opt Martine Gerow, CFO of American Express Global Business Travel, as a director, replacing Kory Sorenson. Gerow, a French and American citizen, is a graduate of HEC Paris, and holds an MBA ... Read the full article
Chubb’s Bartolo appointed as Global Segment Leader for EIL at SCOR
15th November 2022
Global reinsurer SCOR has appointed Emma Bartolo as the Global Segment Leader for its Environmental Impairment Liability (EIL) insurance portfolio. Bartolo, who is based in London, will join SCOR in February 2023. She will report to Marie Biggas, Chief Underwriting Officer of SCOR UK and Active Underwriter of the SCOR Syndicate, and ... Read the full article
SCOR reports 9M net loss amid nat cat claims of €907m and strengthening of P&C reserves
9th November 2022
Global reinsurer SCOR has reported a net loss of €509 million for the first nine months of 2022, as natural catastrophe claims increased to €907 million while the firm took a number of meaningful actions on its balance sheet during the period, including strengthening its P&C reserves. The 9M 2022 P&C ... Read the full article
SCOR partners with Bowtie and Take2 on cancer screening solution
1st November 2022
Global reinsurer SCOR has partnered with Hong Kong's first virtual insurer Bowtie and Take2, a healthcare and biotech company, to develop an innovative cancer screening solution. According to the announcement, Bowtie will sponsor 1,300 of its selected life insurance customers within the age group of 40 - 60 to conduct the ... Read the full article
David Guest named Head of Crisis Management for SCOR UK & SCOR Syndicate
19th October 2022
French reinsurer SCOR has appointed David Guest as Head of Crisis Management for SCOR UK and the SCOR Syndicate. His remit will include Terrorism and Political Violence and is effective 24 October, 2022. Within this role, Guest will be based in London and he will report to Marie Biggas, Chief Underwriting Officer ... Read the full article
Moody’s affirms SCOR’s ratings, moves outlook to negative
14th October 2022
Moody’s has affirmed the Insurance Financial Strength Rating (IFSR) of SCOR SE, a P&C and Life reinsurance provider, and its key operating entities at Aa3. Moody's said it has also changed the outlook to negative from stable. According to the rating agency, the affirmation of SCOR’s ratings reflects its very strong ... Read the full article
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
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