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 well placed to handle shifting and uncertain landscape, says CEO
10th August 2022
Industry giant SCOR remains well placed to handle the current economic uncertainty, according to CEO Laurent Rousseau. Rousseau’s remarks came from the firm’s H1 2022 earnings call. Last week, the firm reported a net loss of €239m for the first half of 2022, driven by claims related to the drought ... Read the full article
“Insurers should continue embracing technological change” – SCOR CEO
1st August 2022
Insurers should continue to embrace technological change, writes Laurent Rousseau, CEO of SCOR in French newspaper Les Echos. Rousseau writes that technological innovation is the best way for reinsurers to best anticipate risks and incoming trends. He wrote: “This is what we are doing, making the best possible use of the ... Read the full article
AXA tops list of largest EU insurers ranked by GPW
1st August 2022
When ranked by gross premiums written (GPW) in 2020, AXA tops the list of the largest European insurance companies with USD 115.3 billion. The insurer also recorded USD 80 billion of capital & surplus from 2020. Based on research data from ratings agency AM Best, our directory ... Read the full article
SCOR announces key changes to its Board of Directors
28th July 2022
Global insurer and reinsurer SCOR has announced several key changes to its Board of Directors. With effect from July 28, 2022, Bruno Pfister, independent director and currently Chairman of the Risk Committee, will take up the chairmanship of the Audit Committee. Pfister succeeds Kory Sorenson, who, after many years spent as a ... Read the full article
SCOR posts H1 2022 net loss as nat cats, war in Ukraine & COVID-19 hit profitability
28th July 2022
French reinsurer SCOR has reported a net loss of €239 million for the first half of 2022, driven by claims related to the drought in Brazil, flooding in Australia and other weather events, the war in Ukraine, and further losses related to the COVID-19 pandemic. The net loss announced by SCOR ... Read the full article
SCOR to use Concirrus’ Marine Hull Market Model
20th July 2022
Global insurer and reinsurer SCOR has adopted the Marine Hull Market Model from insurtech Concirrus to improve loss ratios within its marine line of business. Concirrus’ Model - delivered via its data and analytics platform, Quest - leverages the insight of multiple data sources for a market-wide perspective on valuing an ... Read the full article
SCOR appoints Augustin Gas as CUO APAC FGM
15th July 2022
Global insurer and reinsurer SCOR has made a key appointment in the Asia Pacific region, appointing long-standing employee and former retrocession specialist Augustin Gas as Chief Underwriting Officer for APAC fast growth markets. Gas highlighted his new role as APAC, FGM Chief Underwriting Officer at SCOR on Linkedin today. In the Asia ... Read the full article
Monkeypox outbreak not a significant event for re/insurers: SCOR
15th July 2022
Global reinsurer SCOR has said it does not expect the recent monkeypox virus outbreak to cause a significant impact for re/insurers. This is due to the fact that monkeypox has relatively low mortality and morbidity rates and the existing protection among certain groups of the population, SCOR noted. People vaccinated against smallpox ... Read the full article
SCOR faces a “just below €200m” loss related to drought in Brazil
13th July 2022
SCOR has reported that the impact on its net technical results from the severe drought on the harvest in the southern part of Brazil “should be just below €200m” for H1 2022. According to the global reinsurer, this is the Group’s best estimate of the full cost of the event. SCOR is ... Read the full article
SCOR “likely to underperform peers in short-term” – Berenberg
6th July 2022
Berenberg is forecasting that, in Q2, SCOR will experience a net loss of €43m, and is likely to continue to underperform peers in the shorter term. This is driven primarily by inaccurate expert assessment of catastrophe events, as well as the ongoing impact of drought losses in ... Read the full article
MGAM and SCOR to lead Gov-backed scheme for fire assessors
29th June 2022
UK insurer MGAM, an Acrisure partner, and SCOR, in partnership with the Department for Levelling Up, Housing and Communities, will deliver a new Government backed professional indemnity insurance (PII) scheme for EWS1 assessors, according to an announcement. The external wall fire review process forms (EWS1) were developed by the Royal Institution ... Read the full article
SCOR promotes McMurdo to Reinsurance CEO as Blanc announces retirement
14th June 2022
Stuart McMurdo is set to replace Michel Blanc as Chief Executive Officer (CEO) of Reinsurance at SCOR, with the latter set to retire in January 2023 after 31 years of service. The French reinsurer notes that, effective immediately, McMurdo and Blanc will work very closely together to ensure a smooth transition ... Read the full article
Reinsurers to absorb bulk of $2bn+ Ever Given claims, says SCOR
9th June 2022
A majority share of more than $2 billion in claims is the potential sum reinsurers will absorb from the losses caused by the blocking of the Suez Canal because of the lodging of the Ever Given, according to global reinsurer SCOR. Last year, the ultra-large container ship blocked the largest man-made ... Read the full article
Appetite for underwriting property cat reinsurance business tightening
1st June 2022
Earnings pressure and ongoing uncertainty around the impact of climate change is reducing the appetite for underwriting property catastrophe reinsurance business, says the newest edition of Aon’s Reinsurance Aggregate (ARA). The study said that while the sector should be ‘applauded’ for dealing with significant volatility over the last five years and ... Read the full article
SCOR sponsors new catastrophe bond
1st June 2022
SCOR has sponsored a new catastrophe bond called Atlas Capital Reinsurance 2022 DAC. According to the firm, the new bond will provide the group with a multi-year risk transfer capacity of $240m to protect itself against named storms in the U.S. and earthquakes in the U.S. and Canada, as well as ... Read the full article
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