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.
Nat cats a key consideration for Europe’s big four reinsurers in H2, says Moody’s
30th August 2022
Natural catastrophes have weakened Europe’s big four reinsurers' results in H1, and with the peak North Atlantic hurricane season still to come, there is a risk that they might do so again in H2, says a Moody’s investors service report. The four reinsurers reported combined net profits of €1.9bn in the ... Read the full article
Europe’s big four see P&C reinsurance underwriting performance deteriorate: Moody’s
26th August 2022
Europe’s big four average net combined ratio from property and casualty (P&C) reinsurance deteriorated to 98.9% from 95.5% a year earlier, with only Munich Re reporting a stronger P&C combined ratio, says Moody’s. The report suggests that the group's weaker P&C underwriting performance partly reflects several small to mid-sized natural catastrophe ... Read the full article
SCOR to combine P&C and L&H mandates under Ventures 2.5
19th August 2022
French reinsurance firm SCOR has announced the next phase of its Venture activities, with ‘Ventures 2.5’. Going forward, the P&C Ventures and L&H Ventures mandates will be combined into a single practice. The unified team will lead investments and partnerships with early-stage companies, working on solving problems across all (re)insurance lines of ... Read the full article
Munich Re remains the world’s largest reinsurance company
17th August 2022
After taking the top spot last year, global reinsurer Munich Re remains the world's largest reinsurance company, with gross life & non-life reinsurance premiums written of more than $46.8 billion in 2021, as shown by our directory of the Top 50 Global Reinsurance Groups. The directory is ... Read the full article
Neyme promoted to Head of Alternative Solutions for the Americas, SCOR
15th August 2022
Global insurer and reinsurer SCOR has promoted Cyril Neyme to Senior Underwriter – Head of Alternative Solutions for the Americas. Within this role, he will continue to based in New York. Most recently, Neyme served as SCOR’s Vice President for its US Casualty Treaty division. He first joined SCOR in 2014, where he ... Read the full article
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
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