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-PartnerRe combo could produce top-three reinsurer, say analysts
8th February 2019
A potential merger deal between French reinsurer SCOR and Bermuda-based PartnerRe would make strategic sense for both firms and could produce a combined entity that ranks in the top-three global reinsurers, according to analysts at AlphaValue. Rumours about a potential deal between the companies have been circulating since SCOR rejected an ... Read the full article
SCOR expands its P&C reinsurance book by almost 10% at renewals
7th February 2019
SCOR, the France headquartered reinsurance firm and one of the top-four reinsurers globally, grew its property and casualty book by almost 10% during the key January renewal season. SCOR said that at constant exchange rates the P&C reinsurance book was renewed at EUR 3.2 billion, up from EUR 2.9 billion, an ... Read the full article
SCOR’s Kessler defends legal actions against Covéa
5th February 2019
Denis Kessler, Chief Executive Officer (CEO) of French reinsurer SCOR, has defended the company’s decision to initiate criminal actions against Covéa and its CEO, Thierry Derez, following the rejection of an €8.2 billion takeover bid last year. The SCOR boss addressed criticism from investors such as Catherine Berjal, CEO of ... Read the full article
Investors question SCOR’s “aggressive” legal dispute with Covéa
4th February 2019
French reinsurer SCOR has faced criticism from activist investors just days after the company announced it intends to initiate criminal actions against Covéa and its CEO, Thierry Derez, following the rejection of an €8.2 billion takeover bid last year. Catherine Berjal, CEO of investment management firm CIAM, penned a letter ... Read the full article
Covéa board firmly rejects “groundless” SCOR accusations
31st January 2019
After a statement from Covéa this week put an official end to its hopes of successfully navigating a takeover of SCOR, prompting the latter to pursue legal action, the company’s board of directors have firmly rejected what they describe as groundless acquisitions and reaffirmed its unanimous support for ... Read the full article
SCOR announces one-off bonus to eligible employees
30th January 2019
Global insurer and reinsurer SCOR, has announced a decision to award a one-off bonus of €1,000 to all of its employees in France who are on a salary that is less than 1.5 times the minimum wage. A bonus of €500 will be awarded to employees in France with a ... Read the full article
SCOR seeks prosecution of Covéa & Thierry Derez
29th January 2019
French reinsurance giant SCOR has announced that it plans to initiate criminal actions against Covéa and its Chief Executive Officer (CEO) Thierry Derez following the rejection of an €8.2 billion takeover bid in August 2018. The acquisition offer from Covéa, which is currently SCOR’s largest shareholder, was labelled as “hostile ... Read the full article
Covéa scraps plans to pursue SCOR deal
29th January 2019
French insurance group Covéa has announced that it has abandoned its plans to pursue an acquisition deal targeting reinsurance giant SCOR. “Covéa takes note of SCOR’s refusal to enter into any discussions in relation to Covéa’s proposed friendly transaction offer addressed on 24 August 2018,” the company said in a statement. “The ... Read the full article
$872m of premium accepted by foreign reinsurers between 2017-18: IRDA
21st January 2019
The International Regulatory and Development Authority of India (IRDA) says a total of $872 million in reinsurance premium was accepted by foreign reinsurance branches in 2017-18, with Swiss Re taking the largest share at $287 million. Munich Re and SCOR reported $183 million and $166 million, respectively. In the same time period, ... Read the full article
SCOR and PIC complete £1.2bn longevity reinsurance deal
11th December 2018
SCOR has completed a reinsurance deal with Pension Insurance Corporation plc (PIC), a specialist insurer of defined benefit pension funds, that relates to £1.2 billion of longevity risks. The agreement covers the longevity risk of around 8,000 in-payment lives across six separate defined benefit pension schemes. It also marks the second such ... Read the full article
SCOR sets up P&C specialty insurance unit in Paris to ensure Brexit continuity
22nd November 2018
French reinsurance major SCOR has established SCOR Europe SE, a new Paris-based P&C specialty insurance company which the firm says will ensure continuity for its clients after Brexit. SCOR Europe SE has been approved by the French supervisory authority, the ACPR (Autorité de Contrôle Prudentiel et de Résolution), gaining a license ... Read the full article
Covéa CEO resigns from SCOR board following takeover attempt
14th November 2018
Thierry Derez, the Chief Executive Officer of French insurer Covéa, has resigned from his position on SCOR’s board following the rejection of an €8.2 billion (US $9.6 billion) takeover attempt in September. SCOR had recently released a statement reaffirming its rejection of Covéa’s “hostile and unfriendly” acquisition offer and called ... Read the full article
SCOR Global Life eyes simpler underwriting experience with OnePath partnership
13th November 2018
SCOR Global Life, a division of the France-headquartered reinsurer, has said the Australia-based life insurance provider OnePath has succeeded in delivering customers a simpler and faster underwriting experience by utilising the behavioural economics insights and analytics it developed. SCOR Global Life says this has resulted in an improved application layout, simple ... Read the full article
SCOR could increase nat cat budget for 2019 and beyond: Victor Peignet
25th October 2018
Global insurer and reinsurer SCOR is looking at its natural catastrophe budget and could increase it when planning for 2019 and beyond, according to the Chief Executive Officer (CEO) of SCOR Global P&C, Victor Peignet. The French headquartered re/insurer yesterday announced its results for the first nine months of the ... Read the full article
SCOR on target despite higher than expected Q3 cat losses
24th October 2018
French headquartered global reinsurance firm SCOR remains on track to achieve its Vision in Action plan targets after the first nine months of the year, despite a lower than expected third-quarter net income due to the impact of recent catastrophes. SCOR, like many other reinsurance firms, was always expected to take ... Read the full article
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