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.
Marsh’s Chestiperova joins SCOR’s Alternative Solutions Reinsurance team
20th June 2024
Olga Chestiperova has joined SCOR’s Alternative Solutions Reinsurance team as a Senior Underwriter, based in the company's Paris office. The addition of Chestiperova further bolsters a team that has been expanding in recent months. Chestiperova joins the French reinsurer with a background in structured solutions consulting at Marsh France, where she worked ... Read the full article
SCOR backs new collaborative solution for cross-border e-commerce trade
18th June 2024
Hong Kong Export Credit Insurance Corporation (HKECIC) has introduced a new trade credit insurance solution based on SCOR's alternative data underwriting engine, SCOR Smart Credit, aimed at supporting cross-border e-commerce trade. This new product provides protection for trade loans granted by FundPark to merchants registered in Hong Kong. Its aim is ... Read the full article
SCOR promotes Benoît Liot to Head of Risk Partnerships
17th June 2024
French reinsurer SCOR has announced the appointment of longstanding retrocession and third-party capital partnerships executive Benoît Liot as Head of Risk Partnerships. SCOR has highlighted the relevance of this appointment as “an important step toward delivering on its Forward 2026 strategic plan.” In order to cater to its expanding clients’ risk ... Read the full article
SCOR’s Léger & Lloyd’s Neal to lead Insurance Europe’s RAB
14th June 2024
SCOR's CEO Thierry Léger and Lloyd’s CEO John Neal have been appointed chair and vice-chair of Insurance Europe’s Reinsurance Advisory Board (RAB) respectively. Thierry Léger takes over from Gen Re’s Charlie Shamieh, who has held the RAB chairmanship since June 2023. A well-known figure in the reinsurance industry, Léger has 25 years ... Read the full article
MGA Nirvana renews MTC binding authority
6th June 2024
Specialty managing general agent (MGA) Nirvana has announced the renewal of its Media/Technology Errors & Omissions and Cyber (MTC) binding authority with an increased £10mn Media Liability line. It has also expanded authority in Technology and Cyber lines, including new coverage for the financial software industry. Additionally, Nirvana MTC has expanded SCOR’s ... Read the full article
SCOR secures $175m of retro with latest cat bond
31st May 2024
French reinsurer SCOR has successfully sponsored a new catastrophe bond, Atlas Capital DAC Series 2024-1, providing it with a multi-year risk transfer capacity of $175 million against named storms in the US and earthquakes in the US and Canada. Atlas Capital DAC Series 2024-1 is an aggregate, index-based trigger cat bond ... Read the full article
SCOR announces further enhancements to Group’s sustainability strategy
21st May 2024
French reinsurer SCOR aims to achieve a reduction of 23% in the intensity of its greenhouse gases (GHG) emissions by 2030 versus the end of 2022, CEO Thierry Léger announced during the Group’s General Meeting. This is the reinsurer’s first interim target relating to companies having their headquarters in Europe for ... Read the full article
SCOR reports Q1’24 net income of €196m amid solid P&C performance
17th May 2024
French reinsurer SCOR has announced net income of €196 million for the first quarter of 2024 and a P&C re/insurance combined ratio of 87.1%, which includes a nat cat ratio of 7.2%, mainly impacted by the update of the market loss related to the Q3 2023 Italian hailstorm. Within P&C, SCOR ... Read the full article
SCOR to “massively” boost investments in the Chinese market
7th May 2024
In an interview with China Daily, Thierry Leger, Chief Executive Officer (CEO) of French reinsurer SCOR, stated that the company will "massively" boost investments in the Chinese market to capture the country's long-term growth prospects. He added that he "disagrees strongly" with the arguments that China's economic development has peaked because ... Read the full article
SCOR names HDI’s Claire McDonald as CEO of Business Solutions unit
29th April 2024
French reinsurer SCOR has appointed Claire McDonald as Chief Executive Officer (CEO) of SCOR Business Solutions (SBS), the firm's large corporate risks insurance unit which was previously known as SCOR Specialty Insurance. Effective September 1st, 2024, McDonald joins from HDI Global SE, and takes over from Romain Launay, who is leaving ... Read the full article
SCOR promotes Lily Song to Head of P&C China
22nd April 2024
French insurer and reinsurer SCOR has made Lily Song, previously the Chief Underwriting Officer (CUO) of China Reinsurance, the new Head of Property and Casualty (P&C) for China. Song took on her new Beijing, China based role in April 2024, having previously served as China Reinsurance CUO from January 2020 to ... Read the full article
Europe’s big four reinsurers well placed for a strong 2024: Fitch
2nd April 2024
Large European reinsurers posted very strong financial results for 2023, enabling them to bolster reserves and balance sheets and this will support ratings in 2024, according to analysis by Fitch Ratings. The ratings agency feels that Europe's big four reinsurers, Munich Re, Swiss Re, Hannover Re, and SCOR are well placed ... Read the full article
Europe’s big four reinsurers doubled combined earnings in 2023, says Moody’s
27th March 2024
Analysts at Moody’s Investors Service report that the four largest European reinsurers—Munich Re, Swiss Re, Hannover Re, and SCOR — achieved a combined earning of €10.2 billion in 2023, more than double their earnings in 2022, attributed to higher prices and improved investment returns. Moody’s report underscores that all four companies ... Read the full article
SCOR unveils simpler & more effective business structure
11th March 2024
French reinsurer SCOR has announced new structures within its Property & Casualty (P&C) and Life & Health (L&H) segments as the firm looks to become "a simpler and more effective organization", enabling more immediate client access and decision-making. SCOR has decided to simplify the structures within P&C and L&H, which for ... Read the full article
SCOR to pursue a more regional approach to casualty underwriting: CEO
6th March 2024
SCOR CEO Thierry Léger has revealed that the firm will stop underwriting US General Liability and Professional Indemnity single-risk business from Europe, deciding to only write it locally from the US in the future. Léger disclosed this information in SCOR's Q4 earnings call, noting that the decision will be effective for ... Read the full article
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