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.
COVID-19 shows need for more public risk management: Denis Kessler
24th April 2020
SCOR CEO Denis Kessler has said that the coronavirus (COVID-19) pandemic has raised new questions about the role of the state and highlighted the need for more public risk management. Speaking in an interview with l’Opinion, Kessler said that after the crisis has cooled down, states will have to concentrate all ... Read the full article
SCOR achieves 6.6% pricing increase at April renewals
22nd April 2020
SCOR Global P&C has reported a 6.6% overall increase in pricing at the April 1 renewals, which saw the reinsurer restructure some of its catastrophe business in Japan. The company grew gross premiums up for renewal by 5.7% at constant exchange rates to €504 million, and generated a 5.4% growth in ... Read the full article
Denis Kessler cautions against pandemic insurance scheme
20th April 2020
SCOR CEO Denis Kessler has cautioned against the introduction of a pandemic insurance scheme to mutualise operating losses for businesses, while acknowledging that the crisis could “change the course of history.” Speaking in an interview with Le Point, Kessler questioned the advisability and feasibility of relying on systems that mutualise business ... Read the full article
SCOR names Emmanuel Joffre as Chief Human Resources Officer
7th April 2020
SCOR has announced the appointment of Emmanuel Joffre as Chief Human Resources Officer with immediate effect, reporting to Group Chief Operating Officer, Romain Launay. Based in Paris after a transition period in New York, he will be responsible for all aspects of the Group’s human resources. Joffre previously served as SCOR’s Head ... Read the full article
CIAM reiterates SCOR succession, pay concerns after AGM delay
1st April 2020
Activist investor CIAM has welcomed SCOR’s decision to postpone its annual general meeting (AGM), but has repeated its criticisms of the reinsurer’s executive pay levels, while also reiterating its call for a clear succession plan. In a letter to shareholders last week, CIAM CEO Catherine Berjal accused SCOR of ignoring ... Read the full article
SCOR’s Channel Syndicate adds Coulson as a senior underwriter
31st March 2020
SCOR’s Channel Syndicate has appointed Caroline Coulson as a senior underwriter on the political and credit risks team within SCOR Specialty Insurance. Effective immediately, Coulson started on 23 March and will report to Kade Spears, global line head of the political and credit risks team. She was previously a senior political risk ... Read the full article
SCOR postpones AGM following investor criticism
30th March 2020
French reinsurer SCOR has decided to postpone its annual general meeting (AGM) to June 30, 2019, due to concerns about the coronavirus (COVID-19) pandemic. The company had initially tried to pull its AGM much earlier this year, on April 17th, but drew sharp criticism from activist investor CIAM last week. In ... Read the full article
CIAM renews pressure on SCOR over exec pay, AGM date
27th March 2020
Activist investor CIAM has renewed pressure on SCOR over the reinsurer’s decision to move its annual general meeting (AGM) forward due to the coronavirus (COVID-19) outbreak, while restating concerns about the level of executive pay at the company. In a letter to shareholders, CIAM accused SCOR of ignoring the market practice ... Read the full article
SCOR says re/insurers have expertise to understand COVID-19 impact
19th March 2020
Global reinsurer SCOR has called for industry-wide action to be taken over the unfolding coronavirus pandemic. SCOR’s executive committee described the re/insurance industry as having the mathematical expertise to understand the potential impact of the virus. SCOR described Life re/insurance in particular as having a unique alignment with the health and well-being ... Read the full article
Venture Underwriters announces association with SCOR
2nd March 2020
Venture Underwriters, a division of Allstar Financial Group, has announced a new association with SCOR's US surplus lines company to underwrite and distribute general liability-related business. It’s hoped the association with General Security Indemnity Company of Arizona will allow Venture's brokerage clients the ability to offer their insureds optional financial strength. General ... Read the full article
Verisk, SCOR partnership targets automated life insurance underwriting
28th February 2020
Data analytics firm Verisk is partnering with SCOR on an automated life insurance underwriting platform. The new platform leverages artificial intelligence to help life insurers process electronic health records faster. It’s hoped this will reduce the time needed to obtain an attending physician statement and enable accelerated underwriting. “Electronic medical records have the ... Read the full article
SCOR reports limited exposure to social inflation
28th February 2020
SCOR Global P&C claims to have only limited exposure to social inflation due to the modest size of its casualty portfolio, as well as its small appetite for impacted business lines. The French reinsurer noted that its recently built US casualty portfolio represents approximately 12% of reserves and 11% of gross ... Read the full article
SCOR posts higher income but nat cats hit P&C result
27th February 2020
French reinsurer SCOR has reported a rise in net income for the full year 2019 to €422 million and a net combined ratio of 99%. However, a high level of natural catastrophe activity pushed its Global P&C segment to an underwriting loss in the fourth-quarter. Overall, Group net income increased by ... Read the full article
SCOR names Paul Christoff CEO of Canadian reinsurance arm
21st February 2020
French reinsurer SCOR has announced that Paul Christoff will be proposed as President and Chief Executive Officer (CEO) of SCOR Canada Reinsurance Company. He will succeed Joseph El-Sayegh, who joined SCOR in 2000 but has now decided to leave the firm to pursue other career opportunities. Following the appointment, Christoff will also ... Read the full article
SCOR targets Brazilian agriculture sector with AgroBrasil acquisition
14th February 2020
French reinsurer SCOR has announced the acquisition of Brazil's family-owned agriculture focused Managing General Agent (MGA), AgroBrasil Administração e Participações Ltda (AgroBrasil). The acquisition of a majority stake in the firm marks a significant step in the continued development of SCOR's Specialty Insurance strategy, and provides the reinsurer with access to ... Read the full article
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