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’s 9M net income rises to €339mn despite impacts of nat cats & COVID
27th October 2021
French reinsurer SCOR has reported net income of €339 million in the first nine months of 2021, which represents a year-on-year improvement of more than 151% despite pre-tax natural catastrophe losses of €708 million, net of reinsurance. Alongside the growth in net income, SCOR has reported 10.1% growth in gross written ... Read the full article
Denis Kessler rejoins the Reinsurance Advisory Board as Chairman
20th October 2021
The Reinsurance Advisory Board (RAB), a specialist representative body for the European reinsurance industry, has appointed SCOR's Denis Kessler as Chairman. The RAB is represented by seven of the largest European reinsurers. Collectively they represent more than 50% of total reinsurance premium income worldwide. Kessler served in the Chairman role between 2009 and ... Read the full article
SCOR backs WTW’s Climate Transition Pathway solution
18th October 2021
SCOR has signed up to align capacity to support the Climate Transition Pathway (CTP) solution, developed by Willis Towers Watson. CTP is an accreditation framework that provides insurance companies and financial institutions with a consistent approach to identifying businesses with robust low carbon transition plans aligned to the Paris Agreement. SCOR is the ... Read the full article
MS&AD, SCOR back Energetic Insurance Series A funding round
8th October 2021
Energetic Insurance has completed a Series A funding round which totalled $7 million, led by Schneider Electric Ventures with participation from MS&AD Ventures, MCJ Collective, and Atlantic Global Risk. The startup’s existing investors Congruent Ventures, SCOR P&C Ventures, MUUS Asset Management, Powerhouse Ventures, and Clean Energy Venture Group also participated in ... Read the full article
SCOR hires Adrian Poxon as CUO, Marine & Energy
23rd September 2021
SCOR has appointed Adrian Poxon to its P&C Reinsurance division as Chief Underwriting Officer for the Global Lines Marine & Energy, including Energy upstream and downstream, Aviation & Space and Engineering. Poxon spent the first half of his career in the London market, starting out in Aviation insurance before changing direction ... Read the full article
Somerset Re hires SCOR’s Christopher Smith as Head of Structured Reinsurance
23rd September 2021
Bermuda domiciled reinsurer Somerset Reinsurance has appointed Christopher Smith as Head of Structured Reinsurance. Smith will be based in Bermuda, and report to Jeff Burt, Chairman and Chief Executive Officer of Somerset. He will be responsible for setting client strategy for the structured reinsurance line and lead Somerset's efforts in reserve and ... Read the full article
SCOR’s Rousseau notes “disconcerting” imbalance between losses and capacity
17th September 2021
SCOR CEO Laurent Rousseau has pointed to a “disconcerting imbalance” between rising loss trends and the supply of capital into the re/insurance market. Speaking during the company’s recent RVS event, which discussed lessons to be learnt from the COVID-19 pandemic, Rousseau acknowledged that the past few years have been “extremely costly” ... Read the full article
Reinsurance environment “most attractive in a decade”: SCOR’s Launay
10th September 2021
The reinsurance market environment is “probably the most attractive market in a decade,” according to Romain Launay, Deputy Chief Executive Officer (CEO) of SCOR Global P&C. During SCOR’s 2021 Investor Day, Launay discussed the impact of several market conditions on reinsurance rate momentum, against the backdrop of the COVID-19 pandemic. With the ... Read the full article
SCOR unveils ambitious growth targets for 2022
8th September 2021
SCOR has unveiled a new set of ambitious growth targets as part of its strategic plans for 2022, which include a significant boost to premiums within its P&C business, as well as an increased focus on natural catastrophe lines of business. Alongside its Investor Day 2021, the reinsurer said it plans ... Read the full article
SCOR shuffles Group Executive Committee
3rd September 2021
Global reinsurer SCOR has announced a number changes to its Group Executive Committee, proposed by Laurent Rousseau, Chief Executive Officer (CEO) of SCOR and supported by the Nominations Committee of the Board of Directors and approved by the entirety of the Board. SCOR says that the changes reflect the importance of ... Read the full article
Europe’s major reinsurers grew 11% at mid-year 2021 renewals: Litmus Analysis
2nd September 2021
Europe's four major reinsurers renewed roughly €12 billion of treaty premium at the mid-year 2021 reinsurance renewals, with an average risk-adjusted price increase of 2.1%, according to research from Litmus Analysis. The €12 billon of renewed treaty premium represents growth of 11%, which is an improvement on the 5% growth recorded ... Read the full article
SCOR’s net income rises to €380m; COVID BI claims return
28th July 2021
Global reinsurer SCOR has reported net income of €380 million for the first-half of 2021 and gross written premiums (GWP) of €8.44 billion, representing growth of more than 9% at constant exchange rates. Net income of €380 million is a huge improvement from the income of €26 million posted for the ... Read the full article
Shareholder vote shows “discontent” with SCOR governance, says CIAM
30th June 2021
Activist investor CIAM has argued that the recent shareholder vote on SCOR’s remuneration policy shows “discontent” with governance practices at the reinsurer. At SCOR’s Annual General Meeting (AGM) held earlier today, 44.4% of shareholders opposed Denis Kessler’s remuneration for 2020 and 36.8% opposed his remuneration policy for 2021. CIAM further noted that ... Read the full article
SCOR gains shareholder approval for CEO changeover
30th June 2021
SCOR received shareholder approval for all resolutions submitted at its General Meeting today, including for the separation of the roles of Chairman and CEO as Denis Kessler hands over his executive role to Laurent Rousseau. The renewal of the director mandates of Denis Kessler, Bruno Pfister et Claude Tendil were ... Read the full article
SCOR and Barclays settle dispute
14th June 2021
The dispute between global re/insurer SCOR and British multinational universal bank, Barclays, has reached an end as the pair settled their dispute before the High Court in London on mutually beneficial terms. SCOR was seeking to sue Barclays in London for breach of confidence when the bank advised the re/insurer's largest ... Read the full article
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