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 never had discussions with PartnerRe, affirms CEO Kessler

12th February 2019

Denis Kessler, Chief Executive Officer (CEO) of French reinsurer SCOR, has reaffirmed that the company has never had discussions with Bermudian reinsurer PartnerRe regarding a potential merger scenario. Rumours about a possible combination between the two companies have circulated since SCOR rejected an €8.2 billion takeover bid from Covéa last year ... Read the full article

Channel Syndicate 2015 adds Nick Forti as active underwriter

8th February 2019

SCOR-backed Channel Syndicate 2015 (Channel) at the specialist Lloyd's of London re/insurance marketplace, has announced the appointment of Nick Forti as Active Underwriter, effective March 19. He joins from Brit syndicate 2988, where he also served as an Active Underwriter, and will report to the Chief Executive Officer of Channel, Stuart ... Read the full article

SCOR ties up sale of Rehalto to Workplace Options

8th February 2019

Following negotiations first announced last September, French reinsurance giant SCOR has finalised the sale of its employee wellness solutions subsidiary, Rehalto, to employee support services provider Workplace Options. Rehalto benefits, along with its clients and employees, from Workplace Options’ global infrastructure, which covers 58 million lives and more than 90,000 organisations ... Read the full article

SCOR-PartnerRe combo could produce top-three reinsurer, say analysts

8th February 2019

A potential merger deal between French reinsurer SCOR and Bermuda-based PartnerRe would make strategic sense for both firms and could produce a combined entity that ranks in the top-three global reinsurers, according to analysts at AlphaValue. Rumours about a potential deal between the companies have been circulating since SCOR rejected an ... Read the full article

SCOR expands its P&C reinsurance book by almost 10% at renewals

7th February 2019

SCOR, the France headquartered reinsurance firm and one of the top-four reinsurers globally, grew its property and casualty book by almost 10% during the key January renewal season. SCOR said that at constant exchange rates the P&C reinsurance book was renewed at EUR 3.2 billion, up from EUR 2.9 billion, an ... Read the full article

SCOR’s Kessler defends legal actions against Covéa

5th February 2019

Denis Kessler, Chief Executive Officer (CEO) of French reinsurer SCOR, has defended the company’s decision to initiate criminal actions against Covéa and its CEO, Thierry Derez, following the rejection of an €8.2 billion takeover bid last year. The SCOR boss addressed criticism from investors such as Catherine Berjal, CEO of ... Read the full article

Investors question SCOR’s “aggressive” legal dispute with Covéa

4th February 2019

French reinsurer SCOR has faced criticism from activist investors just days after the company announced it intends to initiate criminal actions against Covéa and its CEO, Thierry Derez, following the rejection of an €8.2 billion takeover bid last year. Catherine Berjal, CEO of investment management firm CIAM, penned a letter ... Read the full article

Covéa board firmly rejects “groundless” SCOR accusations

31st January 2019

After a statement from Covéa this week put an official end to its hopes of successfully navigating a takeover of SCOR, prompting the latter to pursue legal action, the company’s board of directors have firmly rejected what they describe as groundless acquisitions and reaffirmed its unanimous support for ... Read the full article

SCOR announces one-off bonus to eligible employees

30th January 2019

Global insurer and reinsurer SCOR, has announced a decision to award a one-off bonus of €1,000 to all of its employees in France who are on a salary that is less than 1.5 times the minimum wage. A bonus of €500 will be awarded to employees in France with a ... Read the full article

SCOR seeks prosecution of Covéa & Thierry Derez

29th January 2019

French reinsurance giant SCOR has announced that it plans to initiate criminal actions against Covéa and its Chief Executive Officer (CEO) Thierry Derez following the rejection of an €8.2 billion takeover bid in August 2018. The acquisition offer from Covéa, which is currently SCOR’s largest shareholder, was labelled as “hostile ... Read the full article

Covéa scraps plans to pursue SCOR deal

29th January 2019

French insurance group Covéa has announced that it has abandoned its plans to pursue an acquisition deal targeting reinsurance giant SCOR. “Covéa takes note of SCOR’s refusal to enter into any discussions in relation to Covéa’s proposed friendly transaction offer addressed on 24 August 2018,” the company said in a statement. “The ... Read the full article

$872m of premium accepted by foreign reinsurers between 2017-18: IRDA

21st January 2019

The International Regulatory and Development Authority of India (IRDA) says a total of $872 million in reinsurance premium was accepted by foreign reinsurance branches in 2017-18, with Swiss Re taking the largest share at $287 million. Munich Re and SCOR reported $183 million and $166 million, respectively. In the same time period, ... Read the full article

SCOR and PIC complete £1.2bn longevity reinsurance deal

11th December 2018

SCOR has completed a reinsurance deal with Pension Insurance Corporation plc (PIC), a specialist insurer of defined benefit pension funds, that relates to £1.2 billion of longevity risks. The agreement covers the longevity risk of around 8,000 in-payment lives across six separate defined benefit pension schemes. It also marks the second such ... Read the full article

SCOR sets up P&C specialty insurance unit in Paris to ensure Brexit continuity

22nd November 2018

French reinsurance major SCOR has established SCOR Europe SE, a new Paris-based P&C specialty insurance company which the firm says will ensure continuity for its clients after Brexit. SCOR Europe SE has been approved by the French supervisory authority, the ACPR (Autorité de Contrôle Prudentiel et de Résolution), gaining a license ... Read the full article

Covéa CEO resigns from SCOR board following takeover attempt

14th November 2018

Thierry Derez, the Chief Executive Officer of French insurer Covéa, has resigned from his position on SCOR’s board following the rejection of an €8.2 billion (US $9.6 billion) takeover attempt in September. SCOR had recently released a statement reaffirming its rejection of Covéa’s “hostile and unfriendly” acquisition offer and called ... Read the full article