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 continued expansion in 2017, but catastrophes eroded profit
22nd February 2018
Global reinsurance firm SCOR reported positive results for 2017, although dented by the impacts of severe catastrophes, a year in which the reinsurer continued the expansion of its underwriting book. SCOR reported that for the full-year 2017 its group net income came in at €286 million, down from €603 million in ... Read the full article
SCOR grows book at renewals, with focus on U.S. and UK
8th February 2018
French reinsurance company SCOR has increased the size of its underwriting book by 3.7% at the January renewals, with premium growth largely driven by the United States and the United Kingdom, with U.S. catastrophe risk a factor. SCOR grew its P&C reinsurance renewal premiums by 3.7% at the January 2018 renewals, ... Read the full article
SCOR completes acquisition of mutual life/health reinsurer MutRé
3rd January 2018
French reinsurance firm SCOR has said today it has successfully completed its 100% acquisition of MutRé S.A., a reinsurer that SCOR has held a 33% stake in since 1998. SCOR has now acquired 100% of the outstanding shares in MutRé S.A., a mutual reinsurer, established to serve the social economy in ... Read the full article
SCOR to reinsure block of Aegon’s life reinsurance business
28th December 2017
Aegon has announced an agreement to divest a block of life reinsurance business to French reinsurer SCOR, and also revealed that it is to dissolve a related captive insurance firm. Under the agreement, Aegon's Transamerica life subsidiaries will reinsure $750 million of liabilities to SCOR, which covers roughly 50% of the ... Read the full article
IranianRe in negotiations with SCOR, PartnerRe & Nasco Insurance
13th December 2017
IranianRe leadership has met key executives at SCOR, PartnerRe, and Nasco Insurance Group to negotiate potential partnerships, as Iran's biggest reinsurer follows a strategy of transferring risk to foreign reinsurers, according to the Financial Tribune. IranianRe Chief Executive Officer (CEO) and Deputy Chairman of the Board, Seyyed Mohammad Asoudeh, said ... Read the full article
SCOR adopts Credence Analytics’ iDEAL Funds solution
23rd November 2017
Global insurer and reinsurer SCOR has selected Credence Analytics' iDEAL Funds platform to automate its investment management solution. Credence is a global software solution provider that boasts a reputable client base across Asia, the Middle East and African markets, and has announced a new agreement with re/insurer SCOR's Indian operations. SCOR ... Read the full article
Europe’s big four hit with record Q3 losses but capitalisation remains strong: Fitch
16th November 2017
The capitalisation of Europe's big four reinsurers remains strong, despite a heavy hit to earnings after significant claims from hurricanes Harvey, Irma and Maria (HIM), the Mexico earthquakes and the California wildfires could make Q3 a record year for reinsurers' catastrophe losses. Rating agency Fitch said that while all four reported significant ... Read the full article
Roughly 40% of SCOR’s gross Q3 cat losses covered by retro
26th October 2017
France domiciled insurer and reinsurer, SCOR, made use of efficient retrocession protection to mitigate the impacts of high catastrophe losses in the third-quarter of 2017, however, the firm still recorded a pre-tax net loss of €598 million for the period. Global insurers and reinsurers have started to reveal their third-quarter and ... Read the full article
SCOR reaches excess of loss reinsurance agreement with Iran’s Mellat Insurance
24th October 2017
France domiciled reinsurer, SCOR, has reached an agreement with Iranian insurer, Mellat Insurance, an affiliation of Bank Mellat, to provide the company with excess of loss reinsurance protection, according to reports. According to reports on Iranian online publication, Financial Tribune, SCOR will cover catastrophe losses related to Mellat Insurance's fire policies, ... Read the full article
“Disruption doesn’t bring opportunities, we have to earn them” – James Nash
23rd October 2017
“I believe there is substantial value creation potential in the future,” said Guy Carpenter's James Nash, at the Baden-Baden Reinsurance Symposium, “however, disruption does not automatically bring opportunities, we have to earn them. "We won't be able to capture this potential without transforming our industry and without extending our business models, ... Read the full article
SCOR puts Harvey, Irma, Maria, Mexico quake loss at EUR 430m
9th October 2017
French reinsurance company SCOR has estimated that its costs from recent hurricanes Harvey, Irma and Maria, as well as the earthquakes in Mexico, will come to EUR 430 million after retrocession and tax. SCOR had previously said that it believed that despite recent third-quarter 2017 catastrophe losses, it was still ... Read the full article
SCOR enters into catastrophe reinsurance agreement for Iran
2nd October 2017
Global reinsurer SCOR has reached an agreement with the Central Insurance of Iran (CII) to provide catastrophe excess of loss reinsurance protection in the country, a move that supports the development of the country's insurance and reinsurance industry. Since the lifting of sanctions in Iran in January, 2016, the CII has ... Read the full article
Data & knowledge is the re/insurance sector’s opportunity: SCOR’s Peignet
27th September 2017
During the annual meeting of the reinsurance industry in Monte-Carlo, Reinsurance News met with the Chief Executive Officer (CEO) of SCOR Global P&C, Victor Peignet, to discuss some burning industry topics. Regarding the potential but very uncertain impact of hurricane Irma, Peignet underlined how a fragmented market made it difficult to ... Read the full article
SCOR maintains targets despite recent catastrophe events
26th September 2017
In spite of hurricanes Harvey, Irma, and Maria, global French reinsurer, SCOR, remains on track to meet its "Vision in Action" targets, and the company doesn't expect to experience any financial ratings impact. The impacts of hurricanes Harvey and Irma is expected to be an earnings event for the global reinsurer, ... Read the full article
Recent events will see reinsurance industry “shaken up,” says SCOR’s Kessler
10th September 2017
Speaking at the annual meeting of the reinsurance industry in Monte-Carlo, Denis Kessler, the Chairman and Chief Executive Officer (CEO) of SCOR, said the industry is going to be shaken up by the impacts of hurricane Harvey and hurricane Irma. After devastating parts of the Caribbean, Cuba and the Bahamas, hurricane ... Read the full article
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