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 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
SCOR sees P&C combined ratio improvement as FY23 income hits record €812m
6th March 2024
French reinsurer SCOR has reported net income of €162 million for the fourth quarter and a record €812 million for the full year 2023, as the P&C combined ratio strengthened in both periods on the back of lower catastrophe losses. Net income for the quarter and the full year compares with ... Read the full article
SCOR confirms departure of reinsurance CEO Stuart McMurdo
4th March 2024
SCOR, one of Europe's big four reinsurers, has confirmed that Stuart McMurdo, Chief Executive Officer (CEO) of its reinsurance segment, is to leave the company. McMurdo joined SCOR in 2018 as CEO of SCOR UK and the SCOR Syndicate, later becoming Regional CEO for EMEA. In 2022, it was announced that ... Read the full article
European reinsurers’ 1/1 renewals outcome suggests underwriting margins close to peaking: Fitch
29th February 2024
Analysis by Fitch Ratings on the outcome of the key January 1st, 2024, renewals for European reinsurers claims that underwriting margins are close to peaking as supply and demand exhibits greater equilibrium. Earlier this year, Fitch warned that reinsurers’ underwriting margins are likely to peak in 2024, as the rating ... Read the full article
SCOR Korea partners with Lydia AI to enhance VUS and future risks
22nd February 2024
Global reinsurer SCOR's South Korean branch has strategically partnered with Lydia AI, a health AI start-up, to augment SCOR's Virtual Underwriting Solution (VUS) with point-of-underwriting predictive health analytics to create holistic end-to-end underwriting solutions. Rho Donghyun, Chief Executive Officer, SCOR Korea, commented, "Health and life insurers are challenged by the aging ... Read the full article
SCOR backs AIMCOR’s next-gen digital term life insurance product
21st February 2024
French reinsurer SCOR has joined forces with AIMCOR Group to usher in a new era of efficiency and accessibility in the term life insurance landscape. The new product, AIMCOR QuickLife, is powered by Techficient's Dynamic Platform, and is underwritten by Ameritas and reinsured by SCOR. By harnessing predictive data modeling and cutting-edge ... Read the full article
There will be pressure on cat pricing at the April renewals: SCOR P&C CEO
6th February 2024
Jean-Paul Conoscente, the Chief Executive Officer (CEO) of property & casualty (P&C) at French reinsurer SCOR, has said that it is likely that there will be pressure on pricing catastrophe programmes for the April renewals. Speaking during a conference call earlier today, Conoscente explained that SCOR is expecting to see positive ... Read the full article
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