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 merges L&H APAC divisions into unified entity and appoints new Head
19th August 2024
French reinsurer SCOR plans to centralise its operations in the Asia-Pacific (APAC) region by merging its existing Life and Health (L&H) divisions—L&H Fast Growth Markets APAC and L&H Mature Markets APAC—into a single entity, SCOR L&H APAC. Additionally, SCOR has appointed Chloe Wang as the Head of SCOR L&H APAC. Thierry Léger, ... Read the full article
Analysts suggest SCOR might buy more retro to protect itself from further downside
5th August 2024
French reinsurer SCOR is considering to buy more retrocession reinsurance to protect solvency, but dividends remain at risk, as interest rates and an active hurricane season add pressure to its balance sheet, according to Berenberg analysts. SCOR’s Q2 2024 results revealed further risks that are causing analysts to turn even ... Read the full article
P&C reinsurance market will remain broadly where it is today: SCOR’s Conoscente
30th July 2024
For the foreseeable future, SCOR's Global P&C CEO, Jean-Paul Conoscente, expects the property and casualty (P&C) reinsurance market to remain broadly where it is today after the renewals of 2024, absent any major events. SCOR reported its second-quarter results today, including updates on the June and July 2024 reinsurance renewals. ... Read the full article
SCOR reports Q2’24 net loss as L&H assumption review more than offsets solid P&C result
30th July 2024
French reinsurer SCOR has fallen to a net loss of €308 million for the second quarter of 2024 as a result of the previously announced Life & Health (L&H) assumption review, which more than offset a solid performance in its Property & Casualty (P&C) business. SCOR warned in mid-July that ... Read the full article
AM Best places credit ratings of SCOR under review following L&H update
25th July 2024
AM Best has placed the credit ratings of SCOR and its main subsidiaries under review with developing implications following the French reinsurer's publication of an update on its Q2 2024 and full-year 2024 results. In the update, SCOR announced that it has decided to accelerate its life & health (L&H) ... Read the full article
S&P affirms SCOR’s ‘A+’ ratings with stable outlook despite L&H profit warning
24th July 2024
Despite profit warning and a drop in capitalisation, S&P Global Ratings has affirmed its 'A+' long-term insurer financial strength and issuer credit ratings on SCOR SE and related core subsidiaries. The outlook remains stable. The rating agency restated its expectations on capital and earnings as a result of SCOR’s decision to ... Read the full article
SCOR accelerates L&H reserving review after negative experience variance in Q1’24
16th July 2024
Following the negative experience variance in Q1 2024, French reinsurer SCOR has accelerated its annual L&H reserving assumptions review, and revealed that its Life & Health (L&H) insurance service result (ISR) in 2024 is now expected to be significantly less than the predicted €500 million outlined in its first quarter ... Read the full article
SCOR appoints AIG’s Helen Croft as Head of UK & Ireland, Life & Health
15th July 2024
French reinsurer SCOR has announced the appointment of Helen Croft as its new Head of UK & Ireland, Life & Health. In her new role, Croft will oversee the underwriting of life reinsurance for SCOR clients across the UK and Ireland region. Gavin Maguire, Head of UK & Ireland, Life & Health ... Read the full article
AXA tops list of largest European insurers ranked by GPW
9th July 2024
When ranked by gross premiums written (GPW) in 2022, global insurer AXA tops the list of the largest European insurance companies with US$106.1 billion. AXA also recorded $42.3 billion in capital & surplus from the same year. Based on data from ratings agency AM Best, our directory of ... Read the full article
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
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