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.
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
SCOR cancels dividend, reduces Kessler’s compensation
26th May 2020
Global insurer and reinsurer SCOR has announced that its Board of Directors has proposed that no dividend be distributed for the 2019 fiscal year, while Chairman and Chief Executive Officer (CEO) Denis Kessler has proposed that his annual variable compensation for the year be reduced by 30%. Following SCOR's performance in ... Read the full article
Speculation returns that Covéa could bid again for SCOR
13th May 2020
Following French insurer Covéa's decision to pull out of its previously-agreed deal to purchase PartnerRe from Exor, speculation around a potential renewed bid for SCOR has resurfaced. As we reported earlier today, the acquisition of reinsurer PartnerRe by Covéa has been cancelled, after owner EXOR declined to renegotiate the price ... Read the full article
COVID-19 concerns see Moody’s turn negative on SCOR
8th May 2020
Moody's Investors Service has affirmed SCOR’s Aa3 insurance financial strength rating as well as its debt ratings and the ratings of its subsidiaries. The outlook has been changed to negative from stable because Moody's believes the group is more vulnerable than other Aa3 peers in a stress scenario of higher mortality ... Read the full article
SCOR taps capital markets for $200mn of multi-year reinsurance capacity
5th May 2020
Global insurer and reinsurer SCOR has successfully sponsored a new catastrophe bond transaction, providing the Group with $200 million of multi-year risk transfer capacity from the capital markets, to protect against storms in the U.S. and earthquakes in the U.S. and Canada. SCOR has returned to the catastrophe bond market with ... Read the full article
SCOR reports immaterial COVID-19 impact as net income rises in Q1
29th April 2020
Global insurer and reinsurer SCOR has reported a 23.7% rise in net income to €162 million for the first-quarter of 2020 and a P&C combined ratio of 94.5%, as the company reports a limited impact from the COVID-19 pandemic during the period. The French reinsurer states that although its Q1 results ... Read the full article
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