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.
AM Best downgrades Credit Ratings of SCOR
10th March 2023
AM Best has downgraded the Credit Ratings of SCOR, noting that the decision reflects deterioration in the French reinsurer's operating performance, which is no longer considered supportive of AM Best’s previous strong assessment. The rating agency has downgraded the Financial Strength Rating (FSR) to A (Excellent) from A+ (Superior) and the ... Read the full article
SCOR posts FY net loss as nat cats, war & economic pressures cuff profitability
2nd March 2023
French reinsurer SCOR has reported a net loss of €301 million for the full year 2022, citing natural catastrophes such as Hurricane Ian and the hailstorms in France, as well as the war in Ukraine and ongoing macroeconomic pressures as key driving points. This net loss reported by SCOR compares with ... Read the full article
SCOR appoints Yves Goldschild Group Head of Human Resources
21st February 2023
Global re/insurer SCOR has named Yves Goldschild, previously Head of Compensation and Benefits, the new Group Head of Human Resources. He will report to Claire Le Gall-Robinson, SCOR’s General Secretary and Group Chief Sustainability Officer. Before joining SCOR in 2020, Goldschild was in charge of Compensation and Benefits at TechnipFMC, first for ... Read the full article
SCOR promotes Lomeli to LatAm CUO, Grieve to retire
20th February 2023
Global reinsurer SCOR has appointed senior reinsurance professional Alfredo Lomeli as P&C Reinsurance Chief Underwriting Officer (CUO) for Latin America & Caribbean. He will be taking over the role from James Grieve, who will be retiring this year after having worked at SCOR for over seventeen years. Pierre Favennec, CUO for MEA ... Read the full article
SCOR expands partnership with insurtech Concirrus
14th February 2023
SCOR has announced an expansion of its partnership with Concirrus, which will see the insurtech replace SCOR's existing data model, enabling the French re/insurer to more accurately price future risks within its marine line of business. The two firms first announced their working relationship in 2022 when SCOR began harnessing ... Read the full article
SCOR’s ILS fund Atropos surpasses $2bn of assets under management
8th February 2023
SCOR Investment Partners has announced that its flagship Insurance-Linked Securities fund Atropos has surpassed $2 billion of assets under management. The firm's ILS platform, led by Sidney Rostan, also manages a second flagship fund alongside Atropos, the SCOR ILS Fund - Atropos Catbond Fund, which invests solely in catastrophe bonds and ... Read the full article
Less remedial action expected at upcoming renewals: SCOR’s Conoscente
8th February 2023
Jean-Paul Conoscente, P&C Chief Executive Officer (CEO) at SCOR, has said there “may not be as much remediation needed” at the upcoming April and mid-year renewals, when compared to the actions that were required during the January period. SCOR saw an overall decline in estimated gross premium income (EGPI) of ... Read the full article
SCOR shrinks in P&C by 20% at Jan renewals as it targets better technical profitability
7th February 2023
Insurer and reinsurer SCOR saw an overall decline in estimated gross premium income (EGPI) of -12% for renewed business at the January 1st, 2023, reinsurance renewals, as the firm further reduced its exposure to natural catastrophe risks, and looked to optimise capital allocation by line and client. SCOR notes a renewal ... Read the full article
Moody’s downgrades SCOR’s IFSR to A1, changes outlook to stable
6th February 2023
Moody's Investors Service has downgraded the Insurance Financial Strength Rating (IFSR) of SCOR SE and its key operating entities to A1 from Aa3, citing a weakening of the firm's profitability. The rating agency writes that the downgrade also reflects Moody's expectation that SCOR's senior management will likely be faced with a ... Read the full article
Analysts see Thierry Léger appointment as positive for SCOR, negative for Swiss Re
27th January 2023
Analysts at JP Morgan see the recent appointment of Thierry Léger as Chief Executive Officer (CEO) as a positive for SCOR in light of his strong track record of fixing issues, although the loss of his capabilities as Chief Underwriting Officer (CUO) is seen as a negative for Swiss Re. Read the full article
SCOR hires Swiss Re CUO Léger as its new CEO
26th January 2023
Thierry Léger, who has served as the Group Chief Underwriting Officer (CUO) of global reinsurer Swiss Re since 2020, has been named as the new Chief Executive Officer (CEO) of French reinsurer SCOR, effective May 1st, 2023. Léger has been with Swiss Re, one of the world's largest reinsurers, for 25 ... Read the full article
SCOR names Head of Business Model Development
16th January 2023
Lorcán Hall has been appointed as Head of Business Model Development & Corporate Foresight at French reinsurer SCOR. In this Zurich-based role, he will work to pilot and scale internal innovations and work with non-traditional partners to co-create risk and resilience solutions. These solutions will aim to deliver commercial and social benefits ... Read the full article
SCOR appoints Fanny Rosset as Deputy CUO of Alternative Solutions
3rd January 2023
Global reinsurer SCOR has appointed Fanny Rosset as Deputy Chief Underwriting Officer of Alternative Solutions. Rosset joined the firm's Alternative Solutions team at the beginning of the year. Throughout her16 year tenure at SCOR, Rosset has held a variety of different roles, including Pricing Actuary for five years, Agriculture Underwriter for 11 ... Read the full article
Reinsurance a “key part” of successful wind projects, says SCOR partner
3rd January 2023
Insurance and reinsurance are a “key part” of allowing renewable energy companies such as SSE Renewables to develop wind and other clean energy projects successfully, according to a senior figure at the SCOR partner. SSE Renewables has developed a partnership with SCOR over the past few years to provide coverage for ... Read the full article
SCOR renews €300mn catastrophe / mortality contingent capital facility
19th December 2022
Global reinsurance giant SCOR, has announced the renewal for three years, of a contingent capital facility that will provide the firm with additional capital of up to €300 million of coverage against extreme natural catastrophes or life events impacting mortality. The facility takes the form of a contingent equity line, and ... Read the full article