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 quashes CEO pay challenge with vote recount
20th June 2019
French reinsurer SCOR has verified the results of a recent shareholder vote on the level of remuneration received by its Chairman and Chief Executive Officer (CEO), Denis Kessler. The vote was originally held at SCOR’s AGM in April 2019, and was initiated by investment management firm and activist investor CIAM, ... Read the full article
SCOR Global Life strengthens in France with three promotions
12th June 2019
SCOR Global Life, a division of global insurer and reinsurer SCOR, has announced a number of promotions in France, strengthening its position in the country. Formerly the Head of Client Solutions for SCOR Global Life, Barthélemy Philippe has been promoted to Director of the French Market. In this role, Philippe will work closely ... Read the full article
SCOR launches second UK cat bond, securing $250mn of protection
3rd June 2019
French reinsurer SCOR has returned to the UK market for the launch of a second catastrophe bond, securing multi-year risk transfer capacity of $250 million to protect against named storms in the U.S, earthquakes in the U.S and Canada, and windstorms in Europe. Atlas Capital UK 2019 PLC will run from ... Read the full article
French regulator advises SCOR and Covéa to reconcile
29th May 2019
The French Prudential Supervision and Resolution Authority (ACPR) has advised that re/insurers SCOR and Covéa end their conflict in order to avoid financial instability, according to reports from Reuters. The two companies have been involved in a protracted dispute since SCOR rejected an €8.2 billion takeover bid from Covéa in ... Read the full article
SCOR grows ILS business with Coriolis Capital acquisition
23rd May 2019
SCOR Investment Partners, the SCOR group’s portfolio management company, has agreed to acquire 100% of the capital of Coriolis Capital Limited, an asset manager specialising in insurance-linked securities (ILS). Whilst SCOR has been active in the alternative capital space for 19 years, having issued its first catastrophe bond in 2000, the ... Read the full article
SCOR makes senior changes, promotes Jenkins to lead P&C reinsurance in Americas
16th May 2019
French reinsurance firm SCOR has announced a number of senior changes, including the promotion of John Jenkins to the position of Chief Executive Officer for P&C Reinsurance Operations in the Americas. Jenkins, who previously served as Chief Underwriting Officer, P&C Treaty for the Americas, will report to Jean-Paul Conoscente, CEO of ... Read the full article
SCOR CEO calls for cyber ‘Richter scale’: reports
13th May 2019
The re/insurance industry must act together with the relevant authorities and design a common, global scale with which to accurately assess cyber loss events, according to Denis Kessler, the Chief Executive of French reinsurance giant SCOR. “It would be very helpful to have measurement and modeling tools,” Kessler added, suggesting something ... Read the full article
EU General Court confirms legality of French Natural Disaster scheme
7th May 2019
The General Court of the European Union (EU) has backed the natural disaster reinsurance scheme operated by the state-backed re/insurer Caisse Centrale de Réassurance (CCR), as well as the guarantee granted to CCR by the state in this capacity. French reinsurance giant SCOR had in 2016 disputed that the state aid ... Read the full article
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
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