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 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

SCOR Global Life eyes simpler underwriting experience with OnePath partnership

13th November 2018

SCOR Global Life, a division of the France-headquartered reinsurer, has said the Australia-based life insurance provider OnePath has succeeded in delivering customers a simpler and faster underwriting experience by utilising the behavioural economics insights and analytics it developed. SCOR Global Life says this has resulted in an improved application layout, simple ... Read the full article

SCOR could increase nat cat budget for 2019 and beyond: Victor Peignet

25th October 2018

Global insurer and reinsurer SCOR is looking at its natural catastrophe budget and could increase it when planning for 2019 and beyond, according to the Chief Executive Officer (CEO) of SCOR Global P&C, Victor Peignet. The French headquartered re/insurer yesterday announced its results for the first nine months of the ... Read the full article

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