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 and ReMark partner with Atidot on insurance solution
20th April 2022
Global reinsurer SCOR and its subsidiary ReMark have entered a partnership agreement with Atidot on a solution designed to increase in-force business value for life insurers, which analyses policyholder behaviour and develops marketing strategies. The solution combines Atidot’s artificial intelligence and data modelling platform, with ReMark’s solid marketing expertise and consumer ... Read the full article
SCOR expects high double-digit EUR million impact from Ukraine conflict
18th April 2022
French reinsurance company SCOR warned that it anticipates booking a first-quarter charge in the "high double-digit EUR million range" for potential losses related to the Ukraine - Russia conflict and that its result for Q1 2022 may be a loss. SCOR is the first of the major global reinsurance firms to ... Read the full article
Allianz latest to rule out insuring East African Crude Oil Pipeline
11th April 2022
Allianz has become the seventh insurer to commit to not providing coverage to the East African Crude Oil Pipeline (EACOP). The pressure group #StopEACOP says that the insurer has sent it an email to confirm that they will not be ‘providing direct insurance’ to the project since ‘it neither meets our ... Read the full article
SCOR Syndicate names Marie Biggas as CUO of SCOR UK
1st April 2022
SCOR Syndicate has appointed Marie Biggas as Active Underwriter and Chief Underwriting Officer (CUO) of SCOR UK, where she will report to both Stuart McMurdo, CEO of SCOR P&C EMEA and the SCOR Syndicate and to Olivier Perraut, Global CUO Single Risks. Prior to her appointment, Biggas was Vice President, Deputy ... Read the full article
Tailored insurance solutions for climate risk are key for agriculture: SCOR
29th March 2022
In a recent report, global reinsurer SCOR has assessed the impact that climate change can have on key natural perils that affect insurers and reinsurers, saying it’s important that solutions are developed to address the evolving risk landscape. The report was released in the second part of the reinsurers technical paper ... Read the full article
Hannover Re joins top reinsurers in rejecting EACOP pipeline
28th March 2022
Global reinsurer Hannover Re is the latest insurer to reject EACOP, joining Swiss Re, Axa, Zurich and SCOR in publicly committing that they will not underwrite the pipeline. Last week, SCOR had also committed not to insuring EACOP, with Hannover Re quickly following suit, stating, “we refrain from providing reinsurance coverage ... Read the full article
SCOR postpones Investor Day amid Russia’s invasion of Ukraine
11th March 2022
Citing the geopolitical situation, humanitarian and global impacts of Russia's unprovoked invasion of Ukraine, global reinsurer SCOR has decided to postpone its March 29th, 2022, Investor Day. The reinsurer says that its Investor Day will now take place by the end of July 2022, with a date set to be announced ... Read the full article
SCOR Channel doubles UW profit, announces rebrand
10th March 2022
Lloyd’s syndicate SCOR Channel, which is part of global re/insurer SCOR’s Specialty Insurance platform, has announced improved results for 2021, including a 100% increase in its underwriting profit. SCOR Channel recorded a twofold increase in underwriting profit, which moved from £7 million to £14 million, as well as a £5 million ... Read the full article
SCOR announces 95% rise in net income despite impact of cats & COVID
24th February 2022
French reinsurer SCOR has reported an almost 95% rise in net income for 2021 to €456 million, despite above budget natural catastrophe losses pushing the property and casualty (P&C) combined ratio to 100.6%. Alongside a rise in income, SCOR has announced that across the Group, gross written premium (GWP) rose by ... Read the full article
SCOR completes its largest (£5.5bn) ever longevity reinsurance deal
15th February 2022
Global reinsurer SCOR has completed a £5.5 billion longevity reinsurance transaction, covering liabilities of more than 17,000 members of the Lloyds Bank No. 1 Pension Scheme. This landmark transaction is SCOR's largest ever longevity deal and protects the trustee of the scheme by transferring the risk that members live longer than ... Read the full article
Hannover Re and SCOR differ in retro cost strategy: Jefferies
10th February 2022
According to analysts at Jefferies, the industry has been redirected from rapidly rising rates to surging retrocession costs amidst the 1/1 renewal results, resulting in a divergence in strategy between reinsurance giants, Hannover Re and SCOR. During the report, Jefferies analysts highlighted that Hannover Re’s retrocession program shrank considerably at ... Read the full article
SCOR Investment Partners exceeds $3bn in ILS assets
9th February 2022
French reinsurer SCOR's asset management company, SCOR Investment Partners, has exceeded $3 billion in Insurance linked Securities (ILS) assets under management at the end of 2021. The amount was mainly driven by the inflows into its two flagship funds, Atropos and Atropos Catbond, launched in 2011 and 2013 respectively. Last year, Atropos' ... Read the full article
SCOR’s lower cat exposure driven by climate change not retro pricing, says Conoscente
8th February 2022
The 11% reduction of catastrophe exposures on SCOR's P&C in-force portfolio for 2022 was driven by the reinsurer's adjusted view of risk due to climate change, as the price rises achieved on the cat portfolio offset higher retrocession rates, according to Jean-Paul Conoscente, Chief Executive Officer (CEO) of SCOR Global ... Read the full article
SCOR grows P&C premiums by 19% at ‘complex’ Jan reinsurance renewals
8th February 2022
French reinsurer SCOR has reported premium growth of 19% and an overall average price increase of +4.9% in P&C reinsurance at a "complex" and "prolonged" January 1st, 2022 renewals. SCOR notes that 1/1 "evidence the continuing hardening of the P&C treaty reinsurance market," driven by heightened losses from natural catastrophes, attritional ... Read the full article
Munich Re US names SCOR’s Haynes Head of Casualty Underwriting
1st February 2022
Global reinsurer Munich Re has appointed Maura Haynes as Head of Casualty Underwriting in the U.S., Reinsurance Division, where she will be based in New Jersey. Haynes previously worked for SCOR for just under six years, holding numerous leadership roles, most recently as US Casualty Team Leader. During her time there, she ... Read the full article