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 on target despite higher than expected Q3 cat losses
24th October 2018
French headquartered global reinsurance firm SCOR remains on track to achieve its Vision in Action plan targets after the first nine months of the year, despite a lower than expected third-quarter net income due to the impact of recent catastrophes. SCOR, like many other reinsurance firms, was always expected to take ... Read the full article
Scientific progress is expanding the ‘sphere of insurability’: SCOR’s Denis Kessler
19th October 2018
The development of new technologies and scientific research are the key factors driving the growth and transformation of the risk universe, and have required re/insurers to significantly expand their “sphere of insurable risks,” according to Denis Kessler, Chief Executive Officer (CEO) of SCOR. In his opening presentation at SCOR’s 2018 Annual ... Read the full article
SCOR’s portfolio pricing “back at the 2014 level,” says P&C CEO Victor Peignet
15th October 2018
SCOR’s overall portfolio pricing is “now almost back at the 2014 level” in terms of technical ratio, and at the 2015 level for the return on risk-adjusted capital, according to Victor Peignet, Chief Executive Officer (CEO) of SCOR Global P&C. Speaking in an interview with Reinsurance News, Peignet said that SCOR ... Read the full article
SCOR shares rise 19% as deal anticipation builds: J.P. Morgan
9th October 2018
SCOR shares have risen 19% since French insurance group Covéa first revealed its interest in acquiring the reinsurer, and are now approaching the €43 share price offered by Covéa’s initial €8.2 billion (US $9.6 billion) bid, according to J.P. Morgan. Analysts at the firm believe this continued strong price action ... Read the full article
SCOR may pursue PartnerRe deal following Covéa offer, says Berenberg
2nd October 2018
Analysts at investment bank Berenberg have said that French reinsurance giant SCOR may pursue a merger deal with Bermudian reinsurer PartnerRe as a defence strategy following the rejection of what SCOR considered to be a “hostile and unfriendly” €8.2 billion (US $9.6 billion) takeover bid from Covéa last month. SCOR ... Read the full article
SCOR should not accept offer below €50 per share, says Amber Capital investor
1st October 2018
Joseph Oughourlian, Founder and Managing Partner of long-time SCOR investor Amber Capital, has told the Financial Times that he believes SCOR was right to reject Covéa’s €8.2 billion (US $9.6 billion) acquisition bid, which valued SCOR’s shares at €43 per share. Oughourlian, whose company has been an investor in Scor ... Read the full article
SCOR reaffirms rejection of ‘hostile’ Covéa takeover
28th September 2018
French reinsurance giant SCOR has released a statement reaffirming its rejection of Covéa’s “hostile and unfriendly” acquisition offer of €8.2 billion (US $9.6 billion), and has called for Thierry Derez, Chief Executive Officer (CEO) of Covéa, to permanently resign from SCOR’s Board of Directors. SCOR said that a meeting of ... Read the full article
Covéa CEO temporarily steps down from SCOR’s Board
27th September 2018
Thierry Derez, Chairman and Chief Executive Officer (CEO) of Covéa, is to temporarily step down from SCOR’s Board of Directors following the rejection of an €8.2 billion (US $9.6 billion) acquisition offer made by Covéa last month. Covéa said that Derez would withdraw from the Board until the 2019 annual shareholders’ ... Read the full article
SCOR CEO Denis Kessler responds to growing investor pressure
24th September 2018
Denis Kessler, Chairman and Chief Executive Officer (CEO) of SCOR, has responded to a letter from activist investor CIAM, which urged the company’s management to continue negotiations with French insurance group Covéa following SCOR's rejection of a €8.2 billion (US $9.6 billion) acquisition offer. Catherine Berjal, President of CIAM, suggested ... Read the full article
SCOR commits to value creation following Covéa offer
19th September 2018
SCOR has reiterated its commitment to continue creating value for its long-term shareholders following an €8.2 billion (US $9.6 billion) acquisition offer from French insurance group Covéa, which was rejected unanimously by SCOR’s Board of Directors. The reinsurer recently came under fire from shareholders such as French investment fund ... Read the full article
SCOR’s Channel Syndicate partners with InsurTech start-up on invoice protection
19th September 2018
SCOR Global P&C’s Channel Syndicate has partnered with InsurTech start-up Hokodo to provide an invoice protection product to small and medium sized businesses. The partnership will see the Channel Syndicate and SCOR Global P&C develop a range of insurance products which will then be underwritten and distributed using Hokodo’s innovative distribution ... Read the full article
SCOR & Covéa rumours continue, as activist investors mobilise
19th September 2018
French insurance group Covéa is continuing to examine new approaches to a potential acquisition of SCOR after its offer of €8.2 billion (US $9.6 billion) was rejected last month, while pressure mounts for SCOR as activist investors urge CEO Denis Kessler to engage in talks. Sources at Reuters said that ... Read the full article
SCOR negotiating sale of Rehalto subsidiary to Workplace Options
17th September 2018
French reinsurance giant SCOR has announced that it is in exclusive negotiations with the employee support services provider Workplace Options concerning a worldwide distribution partnership agreement and the sale of SCOR Global Life’s employee wellness solutions subsidiary, Rehalto. A partnership with Workplace Options would enhance SCOR Global Life’s global offering of ... Read the full article
SCOR showing strong progress across key growth areas: Laurent Rousseau
12th September 2018
SCOR has made strong progress over H1 2018 in all four of its core growth areas; the U.S, international (including Lloyd’s), SCOR Business Solutions big ticket insurance business, and its MGA business, according to Laurent Rousseau, Deputy Chief Executive Officer (CEO) of SCOR Global P&C. Speaking with Reinsurance News, Rousseau outlined ... Read the full article
The cycle has “disappeared,” says SCOR’s Denis Kessler
11th September 2018
Denis Kessler, Chairman and Chief Executive Officer (CEO) of French reinsurance giant SCOR, has said that it is his “strong conviction” that the reinsurance pricing cycle has “disappeared” and is unlikely to return. Speaking during a debate on the third day of the Reinsurance Rendezvous event in Monte Carlo, Kessler acknowledged ... Read the full article
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