Scor

Scor’s Conoscente eyes continued specialty growth in “best market in decades”

Market dynamics witnessed in 2021 are expected to continue into next year, leading to further hardening across all geographies and segments, Scor Global P&C CEO Jean-Paul Conoscente has said.

Scor XoL retro renewal out to market as eyes similar structure to 2021

Global reinsurer Scor’s excess of loss renewal has gone out to market in what will be once again closely watched as a bellwether for the state of the wider retro markets ahead of 1 January, The Insurer can reveal.

Sasria raises South Africa riot loss estimate to $1.34bn

South African state-backed political violence insurer Sasria has said it now anticipates the bill for claims from civil unrest and rioting in the country in July could reach as much as $1.34bn, almost three times its best-case estimate in the immediate aftermath of the events.

Moody’s: Nat cats to weigh on Big Four’s profits in H2

Claims related to heavy flooding in Europe and China, civil unrest in South Africa, and the risk of an active hurricane season, will pressure the operating performance of Europe’s ‘Big Four’ reinsurers in the second half of 2021, Moody’s Investor Service has warned.

Scor’s shares show modest decline following CR miss in Q2

Scor’s share price has seen a modest decline in early morning trading following a second-quarter results announcement which saw the group’s non-life combined ratio miss analyst consensus after unexpected Covid-19 reserve strengthening.

Swiss Re to pick up lion’s share of South Africa PV reinsurance losses

Swiss Re has the biggest share of South African state-backed political violence insurer Sasria’s Aon-brokered reinsurance program and is expected to bear the brunt of the losses handed to reinsurers following recent civil unrest in the country, The Insurer understands.

CIAM renews call for independent chairman to replace Kessler at Scor

Activist investor CIAM has reiterated its call for an independent chairman at Scor and said minority shareholders had sent a “strong message to the board” in the vote over Denis Kessler’s remuneration at today’s annual general meeting (AGM).

Scor shareholder vote clears path for Rousseau to take over as CEO

Scor has secured shareholder approval for the separation of the roles of chairman and CEO with effect from today.

Scor settles High Court dispute with Barclays

Scor has settled its dispute with Barclays before the High Court in London on “mutually acceptable terms”.

A good deal for Covéa, a great deal for Scor

Denis Kessler’s 19-year reign at the helm of Scor has seen a major turnaround in the fortunes of the Paris-based group, which has grown to become the world’s fourth largest reinsurer.

Activist CIAM continues Scor conflict despite Covéa peace deal

Activist investor CIAM said it remains “very vigilant” on Scor’s governance following the settlement agreement between the reinsurer and French mutual Covéa.

Scor shares climb after Covéa peace deal

Scor’s share price was up 5.5 percent in early trading following yesterday evening’s settlement with Covéa, which “restore[s] peaceful relations” between the two French carriers and ends all legal actions related to the mutual’s attempt to acquire the reinsurer in 2018.

CIAM calls for Scor outsider as chair after “chaotic” succession planning

In an interview with The Insurer, CIAM’s leadership team – CEO Catherine Berjal, deputy CEO Anne-Sophie d’Andlau and head of corporate governance Véronique Bresson – discuss what they claim to be the “chaotic” succession planning at Scor.

CIAM calls for vote against re-election of Kessler to Scor board at upcoming AGM

Activist investor CIAM has called for a formal commitment from Scor that Denis Kessler will only remain as chairman for a transitional period up until the group’s 2022 annual general meeting.

Scor appoints Gay as Canada CEO

Scor has appointed Olivier Gay as CEO for its Canadian reinsurance operations, replacing Paul Christoff.

French authority says no evidence of Covéa’s Kessler market abuse claims

Scor has welcomed comments from the French financial markets authority that information it has gathered does not support Covéa’s allegations of market abuse undertaken by the French reinsurer’s chairman and CEO Denis Kessler.

CIAM questions Rousseau’s independence as Kessler’s successor

Activist investor CIAM has raised concerns over the “operational autonomy” of Laurent Rousseau as the successor to Denis Kessler as the chief executive of Scor.

Scor trades up as investors welcome Rousseau as Kessler’s successor

Shares in reinsurance powerhouse Scor closed up 3.5 percent yesterday as investors reacted to news that Laurent Rousseau is set to replace Denis Kessler as CEO in the summer.

Scor: an insider over the polymath…

If Eton and Oxford are the charmed gateway to advancement in England then the French equivalent is the École Polytechnique followed by École nationale d’administration (or ENA, for short).

Change of plan brings Kessler’s move to a new phase forward

Following Scor’s dramatic volte-face on Benoît Ribadeau-Dumas yesterday, with Laurent Rousseau instead set to take over as CEO and Denis Kessler stepping down a year earlier (but remaining as chairman), we thought it would be useful to revisit Kessler’s interview last month with The Insurer TV.

Region

Topics

Events & Conferences

Content Types