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.
Global reinsurers driving premium growth so far in 2022: Gallagher Re
30th November 2022
Premium growth in the first nine months of 2022 has been driven by global reinsurers, says reinsurance broker Gallagher Re in a new analysis. The firm said that the (re)insurers it tracked reported YOY premium growth of 13% by Q3, but the strongest increases came from global reinsurers and reached 18.2%. It ... Read the full article
SCOR completes £1.7bn longevity transaction with Balfour Beatty Pension Trust
30th November 2022
Global reinsurer SCOR has participated in a £1.7bn longevity swap transaction with Balfour Beatty Pension Pension Trust, with Zurich UK acting as an intermediary insurer, leveraging a “pass-through” structure that facilitates the risk transfer to SCOR as the reinsurance provider. This longevity swap and reinsurance deal, said the firm, will cover the ... Read the full article
SCOR expands sustainable investment offering with new fund
24th November 2022
SCOR Investment Partners, a an investor focussed on increasing its sustainability linked platform, has announced the launch of SCOR Euro Loans Natural Capital. According to the announcement, this new corporate loan fund is open to institutional investors and has secured an initial commitment of €50 million from the SCOR Group as ... Read the full article
SCOR expanding Pacific islands microinsurance scheme, after success in Fiji
23rd November 2022
SCOR has provided an update on the rollout of its parametric microinsurance cover against climate change in Fiji, and says its plans to expand into other Pacific island territories are “already underway.” The reinsurer has been involved since 2021 in the collaborative development and rollout of the Pacific region’s first parametric ... Read the full article
Industry returns driven by hard market: Goldman Sachs
23rd November 2022
A new note from Goldman Sachs says that attractive returns within the industry are being driven by a hard market. The firm said that reinsurers have historically been a low-beta and defensive sector that outperformed in terms of uncertainty. This has continued, it said, as the hard market pricing has started ... Read the full article
SCOR sees ratings downgrade from S&P
18th November 2022
S&P has downgraded SCOR SE’s long-term issuer credit and financial strength ratings to ‘A+’. In moving SCOR from its previous rating of ‘AA-‘, S&P cited weak results at this point in 2022, along with droughts in Brazil, high natural catastrophe losses, and reserve strengthening in the property and casualty segment, along ... Read the full article
European reinsurers see earnings drop in first nine months of 2022: Fitch
18th November 2022
A new report from Fitch Ratings says that the earnings of Europe’s four main reinsurers fell over the first nine months of this year, compared to the same period in 2021. The firm said that this was because of higher natural catastrophe losses, weaker investment returns, and reserve strengthening. On average, ... Read the full article
Martine Gerow joins Board of Directors of SCOR
16th November 2022
SCOR has announced that its Board of Directors has decided, upon the proposal of the Nomination Committee, to co-opt Martine Gerow, CFO of American Express Global Business Travel, as a director, replacing Kory Sorenson. Gerow, a French and American citizen, is a graduate of HEC Paris, and holds an MBA ... Read the full article
Chubb’s Bartolo appointed as Global Segment Leader for EIL at SCOR
15th November 2022
Global reinsurer SCOR has appointed Emma Bartolo as the Global Segment Leader for its Environmental Impairment Liability (EIL) insurance portfolio. Bartolo, who is based in London, will join SCOR in February 2023. She will report to Marie Biggas, Chief Underwriting Officer of SCOR UK and Active Underwriter of the SCOR Syndicate, and ... Read the full article
SCOR reports 9M net loss amid nat cat claims of €907m and strengthening of P&C reserves
9th November 2022
Global reinsurer SCOR has reported a net loss of €509 million for the first nine months of 2022, as natural catastrophe claims increased to €907 million while the firm took a number of meaningful actions on its balance sheet during the period, including strengthening its P&C reserves. The 9M 2022 P&C ... Read the full article
SCOR partners with Bowtie and Take2 on cancer screening solution
1st November 2022
Global reinsurer SCOR has partnered with Hong Kong's first virtual insurer Bowtie and Take2, a healthcare and biotech company, to develop an innovative cancer screening solution. According to the announcement, Bowtie will sponsor 1,300 of its selected life insurance customers within the age group of 40 - 60 to conduct the ... Read the full article
David Guest named Head of Crisis Management for SCOR UK & SCOR Syndicate
19th October 2022
French reinsurer SCOR has appointed David Guest as Head of Crisis Management for SCOR UK and the SCOR Syndicate. His remit will include Terrorism and Political Violence and is effective 24 October, 2022. Within this role, Guest will be based in London and he will report to Marie Biggas, Chief Underwriting Officer ... Read the full article
Moody’s affirms SCOR’s ratings, moves outlook to negative
14th October 2022
Moody’s has affirmed the Insurance Financial Strength Rating (IFSR) of SCOR SE, a P&C and Life reinsurance provider, and its key operating entities at Aa3. Moody's said it has also changed the outlook to negative from stable. According to the rating agency, the affirmation of SCOR’s ratings reflects its very strong ... Read the full article
AM Best revises outlooks on SCOR to negative
3rd October 2022
AM Best has switched its outlooks on SCOR SE and its main operating subsidiaries to negative from stable. The firm said that it had also affirmed the Financial Strength Ratings (FSR) and the Long-Term issuer credit ratings of A+ and aa-. It was from this that the firm revised the outlooks ... Read the full article
UK government-backed PI scheme for ESW1 assessors launches
26th September 2022
Acrisure partner MGAM, SCOR, Aon, and the UK’s Department for Levelling Up, Housing, and Communities (DLUHC) have said that the new government-backed PI insurance scheme for EWS1 assessors is now open for purchase. The scheme, initially announced in June 2022, is launching in response to the significant shortage of insurance ... Read the full article