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.
Climate factors to be “fully integrated” into SCOR’s new strategy: Denis Kessler
30th April 2019
French reinsurer SCOR intends to “fully integrate” a range of climate risk management approaches into its next strategic plan, according to Chairman & Chief Executive Officer (CEO) Denis Kessler. Kessler’s comments came alongside the announcement of SCOR's commitment to more stringent underwriting exclusions for coal-based businesses, which climate activist group ... Read the full article
SCOR & AXA commit to more coal exclusions
26th April 2019
French re/insurers SCOR and AXA have both committed to strengthening their coal exclusion policies in an effort to limit the effects of climate change, according to environmental campaigners at Unfriend Coal. A representative from the activist group questioned the companies at their annual general meetings this week, who both claimed to ... Read the full article
SCOR says shareholders oppose destabilisation attempt by CIAM
26th April 2019
SCOR has announced that its shareholders have voted to approve all resolutions proposed by the company’s Board of Directors, upholding Denis Kessler's position as both Chairman and CEO, and maintaining his current level of remuneration. The votes, held today during SCOR’s annual general meeting (AGM), rejected the "destabilising" resolutions proposed by ... Read the full article
SCOR’s net income drops -21% in Q1, as typhoon loss creep bites
26th April 2019
French global reinsurance player SCOR has reported net income of EUR 131 million for the first-quarter of 2019, which is 21% lower than the prior year thanks to a EUR 53 million dent made by loss creep from Japanese typhoons Jebi and Trami. Loss creep looks set to become one of ... Read the full article
Covéa looking to diversify into reinsurance through M&A, reports Reuters
23rd April 2019
The Chief Executive Officer (CEO) of French insurance group Covéa, Thierry Derez, has said that the firm is eager to diversify into the reinsurance industry through acquisitions, reports Reuters. In January 2019, Covéa decided to abandon plans to pursue an acquisition of reinsurer SCOR after the firm rejected an offer ... Read the full article
SCOR Global P&C grows premiums by 9.6% at April renewals
18th April 2019
SCOR Global P&C, a division of the French reinsurance company, has announced that it grew its reinsurance premiums at the April renewals by 9.6% at constant exchange rates to €548 million. The reinsurer said that it benefitted from “broadly improving market conditions,” with catastrophe reinsurance treaties responding “rationally” in the aftermath ... Read the full article
Proxy advisors weigh in on CIAM proposals for SCOR & Kessler
16th April 2019
Proxy advisory firms Glass Lewis and ISS have voiced their support for recommendations to oppose the level of compensation of SCOR CEO Denis Kessler at the next annual general meeting (AGM), although they were split on further proposals to separate the functions of Chairman and CEO. Last month, investment management ... Read the full article
SCOR expands global P&C ventures team
15th April 2019
French reinsurance firm SCOR has expanded its Global P&C ventures team with four new appointments. Paris-based Adrian Jones, who until recently was Head of Strategy & Business Development, is now fully focused on leading Ventures & Strategic Partnerships in the P&C division. Will Thorne is now leading P&C Ventures in EMEA at ... Read the full article
SCOR consolidates Global Life, P&C units into SCOR SE
1st April 2019
French reinsurance firm SCOR has announced that it has completed the merger of SCOR Global Life SE and SCOR Global P&C SE into SCOR SE as part of its plan to optimise its operational and legal structure and its level of regulatory capital. The units were merged on March 31, 2019 ... Read the full article
CIAM labels SCOR criticism “nonsensical”
27th March 2019
French investment management firm CIAM has defended its call for Denis Kessler to step down as Chairman after SCOR derided the request as an attempt to destabilise the company. CIAM in a statement released today says SCOR’s accusation is nonsensical given the 0.94% stake they hold in the company. “We have ... Read the full article
SCOR rejects “unfounded” calls for Kessler to leave Board
26th March 2019
French reinsurer SCOR has called on its shareholders to reject a draft resolution that was presented by investment management firm CIAM yesterday, which recommended that Denis Kessler be removed from the Board of SCOR. CIAM contended that Kessler should step down from his role as Chairman of SCOR and continue as ... Read the full article
Investors call for Denis Kessler to step down from SCOR Board
25th March 2019
French investment management firm CIAM has called on Denis Kessler to step down from his role as Chairman of SCOR and continue as CEO without a Board position. CIAM, which holds less than a 1% stake in the reinsurer, levelled several criticisms against SCOR and Kessler after its management ... Read the full article
SCOR Global P&C names Reinsurance CEO, reshuffles leadership team
20th March 2019
French reinsurance firm SCOR has made a number of senior appointments within its Global P&C division. Effective April 1, Michel Blanc is promoted to Chief Executive Officer of Reinsurance and replaces Jean-Paul Conoscente after having been appointed to lead the division earlier this year. Also effective April 1, Christoph Spichtig is promoted ... Read the full article
SCOR sues Barclays, demands access to Covéa acquisition docs
25th February 2019
French reinsurer SCOR has gone through with it’s plans to prosecute Barclays, who acted as the financial advisor and financing bank to Covéa during its failed attempt to acquire SCOR in 2018, according to reports from the Financial Times. SCOR previously announced that it intended to sue Covéa and its ... Read the full article
SCOR reports solid 2018 growth and profit despite nat cats
20th February 2019
Global insurer and reinsurer SCOR's gross written premiums (GWP) surpassed €15 billion for the first time in 2018, while full-year net income improved to €322 million despite the impacts of catastrophe losses in the third and fourth-quarter. The French re/insurer has reported GWP of €15.3 billion for the full-year 2018, up ... Read the full article
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