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 backs Amynta Trade Credit Solutions
17th May 2022
Insurance services company, Amynta Group, has partnered with French reinsurer SCOR on the launch of Amynta Trade Credit Solutions, a new platform designed to provide a responsive and focused approach to trade credit insurance in the U.S. The new MGA will be led by Harpreet Mann as President of Amynta Trade ... Read the full article
Fitch turns negative on SCOR
11th May 2022
Fitch Ratings has changed its outlook on SCOR from stable to negative, due to concerns that the reinsurer may not deliver a financial performance in line with its ratings over the next year to two years. At the same time, the rating agency affirmed the insurer financial strength (IFS) and long-term ... Read the full article
SCOR reports €80m loss in Q1, but premiums up with strong growth in P&C
6th May 2022
Global reinsurer SCOR has reported a net loss of €80 million for the first-quarter of 2022, as the firm's natural catastrophe ratio exceeded budget, COVID-19 continued to impact life and health (L&H), and it reserved for losses related to the war in Ukraine. The net loss compares with income of €45 ... Read the full article
SCOR collaborates with machine learning powered financial security platform
29th April 2022
Global reinsurer SCOR has announced that it is collaborating with Onuu – an all-in-one banking and insurance solution across the US. Founded by serial entrepreneurs, Felix Ortiz and Ryan Wuerch, Onuu is designed with Americans of modest means in mind, offering a personalised membership with access to life insurance, credit and ... Read the full article
SCOR makes Nicolas Berg US CEO for P&C
21st April 2022
SCOR has named Nicolas Berg as US Chief Executive Officer (CEO) for property and casualty (P&C), where he will oversee all US-based P&C activities across both specialty insurance and reinsurance. The announcement was made in a LinkedIn post that said Berg would begin in his role on 25 April. Alongside oversight of ... Read the full article
SCOR and ReMark partner with Atidot on insurance solution
20th April 2022
Global reinsurer SCOR and its subsidiary ReMark have entered a partnership agreement with Atidot on a solution designed to increase in-force business value for life insurers, which analyses policyholder behaviour and develops marketing strategies. The solution combines Atidot’s artificial intelligence and data modelling platform, with ReMark’s solid marketing expertise and consumer ... Read the full article
SCOR expects high double-digit EUR million impact from Ukraine conflict
18th April 2022
French reinsurance company SCOR warned that it anticipates booking a first-quarter charge in the "high double-digit EUR million range" for potential losses related to the Ukraine - Russia conflict and that its result for Q1 2022 may be a loss. SCOR is the first of the major global reinsurance firms to ... Read the full article
Allianz latest to rule out insuring East African Crude Oil Pipeline
11th April 2022
Allianz has become the seventh insurer to commit to not providing coverage to the East African Crude Oil Pipeline (EACOP). The pressure group #StopEACOP says that the insurer has sent it an email to confirm that they will not be ‘providing direct insurance’ to the project since ‘it neither meets our ... Read the full article
SCOR Syndicate names Marie Biggas as CUO of SCOR UK
1st April 2022
SCOR Syndicate has appointed Marie Biggas as Active Underwriter and Chief Underwriting Officer (CUO) of SCOR UK, where she will report to both Stuart McMurdo, CEO of SCOR P&C EMEA and the SCOR Syndicate and to Olivier Perraut, Global CUO Single Risks. Prior to her appointment, Biggas was Vice President, Deputy ... Read the full article
Tailored insurance solutions for climate risk are key for agriculture: SCOR
29th March 2022
In a recent report, global reinsurer SCOR has assessed the impact that climate change can have on key natural perils that affect insurers and reinsurers, saying it’s important that solutions are developed to address the evolving risk landscape. The report was released in the second part of the reinsurers technical paper ... Read the full article
Hannover Re joins top reinsurers in rejecting EACOP pipeline
28th March 2022
Global reinsurer Hannover Re is the latest insurer to reject EACOP, joining Swiss Re, Axa, Zurich and SCOR in publicly committing that they will not underwrite the pipeline. Last week, SCOR had also committed not to insuring EACOP, with Hannover Re quickly following suit, stating, “we refrain from providing reinsurance coverage ... Read the full article
SCOR postpones Investor Day amid Russia’s invasion of Ukraine
11th March 2022
Citing the geopolitical situation, humanitarian and global impacts of Russia's unprovoked invasion of Ukraine, global reinsurer SCOR has decided to postpone its March 29th, 2022, Investor Day. The reinsurer says that its Investor Day will now take place by the end of July 2022, with a date set to be announced ... Read the full article
SCOR Channel doubles UW profit, announces rebrand
10th March 2022
Lloyd’s syndicate SCOR Channel, which is part of global re/insurer SCOR’s Specialty Insurance platform, has announced improved results for 2021, including a 100% increase in its underwriting profit. SCOR Channel recorded a twofold increase in underwriting profit, which moved from £7 million to £14 million, as well as a £5 million ... Read the full article
SCOR announces 95% rise in net income despite impact of cats & COVID
24th February 2022
French reinsurer SCOR has reported an almost 95% rise in net income for 2021 to €456 million, despite above budget natural catastrophe losses pushing the property and casualty (P&C) combined ratio to 100.6%. Alongside a rise in income, SCOR has announced that across the Group, gross written premium (GWP) rose by ... Read the full article
SCOR completes its largest (£5.5bn) ever longevity reinsurance deal
15th February 2022
Global reinsurer SCOR has completed a £5.5 billion longevity reinsurance transaction, covering liabilities of more than 17,000 members of the Lloyds Bank No. 1 Pension Scheme. This landmark transaction is SCOR's largest ever longevity deal and protects the trustee of the scheme by transferring the risk that members live longer than ... Read the full article
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