Scor

Another outsider…

After two decades at the helm, the board of Scor yesterday confirmed that Denis Kessler will step down from the top role in 2022.

Jones leaves Scor P&C Ventures with Thorne taking over leadership

Adrian Jones has announced he is leaving Scor P&C Ventures, with Will Thorne taking over leadership of the unit.

Scor names Ribadeau-Dumas to succeed Kessler as CEO

Scor has named Benoît Ribadeau-Dumas its next CEO, succeeding long serving Denis Kessler.

FOTs issued on Scor’s new 1.1 reinsurance tower

Firm order terms (FOTs) have now been issued on Scor’s new specialty/property direct and facultative (D&F) tower, which the carrier has introduced for its 1 January outwards renewal, The Insurer can reveal.

Investors’ ILS interest to rise amid low interest rate environment: Scor’s Rossary

Investor interest and associated capital inflows in the insurance-linked securities (ILS) market are expected to increase over the coming months against the backdrop of the continued low interest rate environment, according to Scor Investment Partners’ chief investment officer Fabrice Rossary.

Scor completes restructured 1.1 retro programme with rates up, reduced agg and new tower

Scor has completed the placement of its restructured retro excess of loss (XoL) programme for 2021 which includes a reduction of aggregate limit, a new reinsurance tower and the division of its per event coverage towers into peak and non-peak zones, The Insurer can reveal.

Scor to separate CEO and chairman roles following Kessler’s departure

Scor will separate the roles of chief executive and chairman when long-serving Denis Kessler retires next year.

Zurich and Scor deny liability in Experian legal cost suit

Two carriers have hit back at a legal suit from Experian by arguing they are not liable to pay the credit reporting firm’s $18mn legal fees because the litigation stems from deliberate data erasure by staff at the company.

Channel Syndicate 2015 grows capacity to £193mn for 2021

Scor-owned Channel Syndicate 2015 has received the green light from Lloyd’s to up its stamp capacity by over 6 percent for the 2021 year of account.

Experian sues Zurich and Scor over data breach and privacy losses

Credit reporting firm Experian is suing insurer Zurich and a subsidiary of French (re)insurer Scor to recover legal costs of more than $18mn, incurred in dealing with the fall out of multiple sets of civil proceedings and regulatory investigations in the US and UK.

Covéa and CEO Derez to appeal Paris Court Scor ruling

Covéa and its chairman and CEO Thierry Derez are to appeal the ruling handed down by the Paris Commercial Court in regard to the French mutual’s 2018 takeover bid for Scor.

European reinsurers bear brunt of Beirut losses in Q3 reporting

As carriers reveal their exposures to August’s Beirut port explosion during third-quarter reporting, European reinsurers have been booking the lion’s share of losses for the event.

IBNR uncertainty continues as Europe’s big four Covid-19 P&C reserves rise to $5.2bn

More than $5.2bn of P&C Covid-19 reinsurance reserves have now been booked by Europe’s big four reinsurers, with the total still dominated by incurred but not reported (IBNR) claims following nine-month earnings disclosures.

European reinsurance stocks continue to climb on vaccine hopes

Shares in Europe’s big four reinsurers continue to trade at a significant discount to their December 2019 close despite this week’s huge gains following the discovery of a Covid-19 vaccine forecast to be 90 percent successful.

Covéa and CEO Derez ordered to pay Scor €20mn by Paris Commercial Court

The Paris Commercial Court has ruled that Covéa’s chairman and CEO Thierry Derez breached his fiduciary duties as a non-executive director of Scor by disclosing confidential information about the carrier to Covéa in its takeover bid, ordering him and the French mutual to pay €19.6mn ($23.6mn) in damages plus interest.

Scor Global P&C names Axa’s Moufakkir head of business transformation

French (re)insurer Scor has named Myriam Moufakkir as chief business transformation officer of Scor Global P&C.

Markets Review: Global P&C stocks leap on vaccine breakthrough

Global P&C equities surged on Monday after Pfizer and BioNTech revealed a breakthrough in the race to find a vaccine for Covid-19.

Scor adds Macif’s Couret to board

French reinsurer Scor has added Macif Group CEO Adrien Couret to its board of directors.

Scor share price rises 6% after earnings beat

Scor’s share price was up 6 percent in early trading after the French reinsurer delivered a Q3 result “materially ahead” of analysts’ consensus

Scor Specialty Insurance adds specie underwriter Morris to marine unit

Scor Specialty Insurance, which houses the Channel Syndicate and Scor’s business solutions arm, has added StarStone’s Richard Morris to complete its marine specialty product set.

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