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.

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

SCOR’s Channel Syndicate completes RITC transaction with RiverStone

11th February 2020

The Channel Syndicate at Lloyd’s of London, which is part of global re/insurer SCOR’s Specialty Insurance platform, has completed its reinsurance to close (RITC) transaction with legacy specialist, RiverStone. Effective January 1st, 2020 the transaction covers the 2017 and prior years of account of Syndicate 2015. First announced in November of ... Read the full article

SCOR notes 2.8% pricing increase, looks to improve reinsurance profitability

6th February 2020

French reinsurer SCOR Global P&C has announced that it secured an increase in reinsurance underwriting profitability at the January 1st, 2020 renewals, which reflects a 2.8% increase in pricing. SCOR notes that trends witnessed at the important January 2020 renewals were consistent with those seen during 2019, with the firm securing ... Read the full article

Analysts warn SCOR could exceed Q4 cat budget, lower FY19E net income

29th January 2020

French reinsurer SCOR's P&C Re segment could exceed its budgeted level for catastrophes in the fourth-quarter of 2019, leading analysts at JP Morgan to revise the firm's expected full-year 2019 net income down by 7%. After Swiss Re, SCOR becomes the second of the big four European reinsurers that JP ... Read the full article

Top reinsurers’ exposure to Wuhan coronavirus, Asia pandemic analysed

23rd January 2020

With official numbers of the Wuhan coronavirus currently standing at 585 confirmed infected and 17 dead, Morgan Stanley analysts have detailed the extent to which the top four European global reinsurers are exposed to pandemic risk in Asia. As of 2018, Munich Re wrote €2.3 billion in premiums in Asia via ... Read the full article

Against its peers, Hannover Re is the main beneficiary from P&C rate rises: MS

15th January 2020

Analysis of Europe's big four reinsurers by Morgan Stanley (MS) states that when compared with its peers, German reinsurance giant Hannover Re is the main beneficiary from improving property and casualty (P&C) rates. In a recent industry report, analysts at Morgan Stanley discuss the current rate environment following the January 1st ... Read the full article

SCOR automates financial processes with Accenture tech

15th January 2020

SCOR has improved the efficiency of its internal functions by utilising technology from professional services firm Accenture, which has enabled the reinsurer to automate financial processes, among other benefits. Previously, many of SCOR’s key processes within the finance function, including the quarterly-close process, were conducted manually, using spreadsheets, email and the ... Read the full article

SCOR successfully places $125m subordinated Tier 1 issuance

12th December 2019

Global insurer and reinsurer SCOR has announced that it's successful placed a perpetual deeply subordinated restricted Tier 1 Regulation S notes issue in the amount of $125 million. The issue price of the New Notes is 99.125% and SCOR states that it intends to use the proceeds of the issuance for ... Read the full article

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