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 places €300m subordinated Tier 2 notes to support organic growth
11th September 2020
French reinsurance company SCOR has announced that it has successfully placed a dated subordinated Tier 2 notes issue amounting to €300 million (USD 355 million). SCOR says that the proceeds of the issuance will be used for general corporate purposes, with settlement expected to occur on September 17th, 2020. The coupon is ... Read the full article
SCOR very positive on hardening P&C market as it absorbs COVID-19 impacts
9th September 2020
Global reinsurer SCOR sees current P&C market conditions as very positive and is anticipating growth with solid pricing dynamics, as the company absorbs the impacts of the COVID-19 pandemic. The French reinsurance company is the latest to note an expectation of continued rate hardening across the reinsurance sector, exacerbated by the ... Read the full article
Average combined ratio of the world’s top reinsurers declined in 2019
2nd September 2020
Analysis of the Top 50 Global Reinsurance Groups reveals that, year-on-year, combined ratios trended higher for some of the largest players in the market in 2019 as underwriting profitability dipped for the cohort. When ranked by unaffiliated gross written premiums (GWP) in 2019, the top ten remains relatively unchanged year-on-year, ... Read the full article
SCOR appoints Olivier Gay as SVP for Canadian reinsurance business
27th August 2020
Global reinsurer SCOR has announced the appointment of Olivier Gay as Senior Vice President for SCOR Canada Reinsurance Company. Gay, who has held roles of increasing responsibility since first joining the company in 2010, most recently served as Deputy Chief Financial Officer with SCOR in Singapore for the Asia Pacific region. Prior ... Read the full article
European reinsurers top tier globally by business profile: Fitch
24th August 2020
The four major European reinsurers - Munich Re, Swiss Re, Hannover Re and SCOR SE are among the top tier of global reinsurers by business profile, Fitch Ratings says. Large franchises and a high degree of diversification underpin Fitch's assessment of very strong business profile for each group. The capital adequacy of ... Read the full article
Governments should “overhaul” risk management after virus failures: Denis Kessler
17th August 2020
SCOR’s Chief Executive Officer (CEO), Denis Kessler, has suggested that governments should “overhaul” their risk management policies after failing to respond effectively to the outbreak of the coronavirus. Speaking in an interview with l’Express magazine, Kessler said that the pandemic and the way it has been managed have revealed a steady ... Read the full article
COVID-19’s impact on Europe’s top reinsurers considerable, varied: Fitch
14th August 2020
Despite the H120 results from the four major European reinsurers - Munich Re, Swiss Re, Hannover Re and SCOR - revealing considerable pandemic-related claims, the impact of the pandemic on the four reinsurers varied significantly. This is in part due to differences in exposure to lines of business affected by the ... Read the full article
SCOR partners with Verisk to help streamline US life underwriting process
11th August 2020
SCOR has partnered with Verisk, a leading data analytics provider, to develop a new tool designed to help life insurers fast track applications, by using data from consumer-authorized electronic health records (EHRs). The EHR Triage Engine streamlines the manual underwriting workflow – reducing decision time from weeks to minutes. The tool bypasses ... Read the full article
SCOR selectively grows reinsurance book at mid-year renewals
24th July 2020
Global insurer and reinsurer SCOR's gross reinsurance premiums grew 1.3% from €708 million to €717 million at the mid-year renewals, as the company took advantage of continued market hardening. The re/insurer notes "strong price growth momentum," reporting overall 8.2% price increases across its renewal book at the mid-year, with improvements materialising ... Read the full article
SCOR reports Q2 net loss amid COVID-19 impacts of €456mn
23rd July 2020
Global insurer and reinsurer SCOR has reported a net loss of €136 million for the second-quarter of 2020 and net income of €26 million for the first half of the year, as the estimated cost of the COVID-19 pandemic booked in Q2 reached €456 million. In Q2 2020, COVID-19 pandemic impacts ... Read the full article
Regulator presses SCOR to separate Chairman & CEO roles
16th July 2020
The French financial regulator has told re/insurers in the country to separate the roles of Chairman and Chief Executive Officer (CEO) to improve governance practices. In particular, the move will put pressure on Denis Kessler, who holds both roles at French reinsurer SCOR, and on Thierry Derez, who holds similar positions ... Read the full article
Kessler’s age targeted in fresh calls for SCOR succession clarity
16th June 2020
Activist investor CIAM has renewed its attacks against SCOR’s management, once again calling on the reinsurer to provide clarity on its succession plans and to separate the roles of Chairman and CEO, both of which are currently held by Denis Kessler. This time, a letter penned by CIAM CEO Catherine Berjal ... Read the full article
SCOR Channel names Heads of Underwriting Insight & Terrorism
11th June 2020
SCOR Channel, part of SCOR’s Specialty Insurance platform, has announced the appointments of Christian Stanley as Head of Underwriting Insight and Christianna Vandoorne as Head of Terrorism and Political Violence. Stanley was previously the Casualty Executive of Lloyd’s’ underwriting performance management directorate. In this role, he was responsible for the oversight of ... Read the full article
Higher margins may offset fading investment income for major reinsurers: Fitch
29th May 2020
The financial earnings of the big four European reinsurers will be affected negatively by the COVID-19 pandemic in the short-term, but moving forward, improved technical pricing could largely offset fading investment returns, according to Fitch Ratings. As evidenced by first-quarter 2020 results, the financial impact of the COVID-19 pandemic for the ... Read the full article
SCOR signs up to UN carbon neutral investment pledge
28th May 2020
SCOR has signed up to the Net-Zero Asset Owner Alliance, an international group of institutional investors that have committed to decarbonise their portfolios to net-zero emissions by 2050. Convened by the United Nations (UN), the Alliance aims to help avoid a global temperature increase above the 1.5°C Paris target, and already ... Read the full article