Scor

French regulator orders Covéa to change governance model: report

The Bank of France’s Prudential Supervision and Resolution Authority (ACPR) has told Covéa’s directors to open an investigation into their governance and report back to the watchdog on findings and next steps.

Scor cuts reinsurance premium by 4.7% as prices climb at 1.1

French reinsurance powerhouse Scor cut reinsurance premiums by 4.7 percent while reporting a 2.8 percent premium rate increase on reinsurance business renewing at the 1 January.

Scor welcomes UK High Court decision against Barclays in Covéa battle

Scor has welcomed a London High Court judgment dismissing attempts by Barclays to stay the UK proceedings for breach of confidence and trade secrets against the bank relating to Covéa’s unsolicited takeover proposal for the French reinsurer.

Scor claims legal win against Barclays in Covea court battle

A judge has refused to halt a High Court action brought by French reinsurance powerhouse Scor against Barclays Bank in connection with the carrier’s failed takeover bid from rival Covea.

Swiss Re faces $1.3bn in losses from Japanese typhoons and Chilean riots

Swiss Re faces a combined $1.3bn loss from 2019’s Japanese typhoons and the Chilean riots, according to equity analyst Jefferies, which has warned over the reinsurer’s continued “outsized exposure” to the most cat-exposed regions.

Scor completes 1.1 XoL retro programme as market clearing continues

Scor has completed the delayed placement of the aggregate layers of its 2020 RenaissanceRe-led retro programme with an average rate increase in the region of 20 percent, The Insurer understands.

Scor issues 3-year Eur300mn contingent capital facility

Scor has launched a three-year contingent capital facility in the form of a contingent equity line arranged by JP Morgan providing Eur300mn ($330mn) coverage against extreme natural catastrophe or life events impacting mortality.

Channel Syndicate stamp capacity falls for 2020

Scor’s stamp capacity on its Lloyd’s subsidiary Channel Syndicate 2015 will be lower next year but may still write a similar level of income as 2019, The Insurer can reveal.

Scor places 1.1 per occurrence XoL retro program; agg negotiations continue

Tier one reinsurer Scor has renewed the $175mn per occurrence layer of its 1.1 XoL retro program as negotiations continue with traditional retro markets and ILS funds over its larger aggregate covers, The Insurer can reveal.

Scor joins Lloyd’s in being removed from Covéa’s XoL treaty

Paris-headquartered Scor will be removed from fellow French firm Covéa’s Eur1.6bn ($1.8bn) excess of loss (XoL) property cat treaty program when it renews at 1.1, The Insurer can reveal.

Channel Syndicate inks 2017 and prior years RITC

Scor-owned Channel Syndicate has agreed a reinsurance to close deal for its 2017 and prior years of account, subject to regulatory approval.

Scor share price rallies after Q3 profit

Shares in French reinsurer Scor rose by as much as 4.17 percent this afternoon, following the publication of its third quarter results revealing growth in the (re)insurance powerhouse’s top and bottom line, despite significant Dorian and Faxai losses.

Scor top and bottom line swell in Q3 despite Dorian and Faxai losses

French reinsurance powerhouse Scor has reported an uplift in gross written premium and operating profit in the third quarter of 2019, despite suffering losses of Eur181mn ($201.5mn) in the period stemming from Hurricane Dorian and Typhoon Faxai.

CIAM reignites battle with Scor

Activist investor CIAM has broken a short-lived truce with French reinsurance powerhouse Scor, reiterating claims that CEO Denis Kessler prioritised his own interests over those of shareholders in takeover negotiations with mutual Covéa.

Sompo International looks to Scor’s Leitner for aviation expansion

Sompo International has hired Scor’s Christina Leitner to its aviation division, in the latest turn of the sector’s merry-go-round, The Insurer can reveal.

Scor completes Coriolis acquisition

Scor Investment Partners has completed the acquisition of 100 percent of the capital of ILS fund manager Coriolis Capital Limited.

How climate change is influencing reinsurance buying patterns

Scor’s head of cat research, Junaid Seria, spoke to The Insurer about the importance of assessing cat risk tolerances in light of the impact of climate change on extreme weather events.

Widening the talent pool

Don’t be put off by the scare stories, insurtech remains a vibrant space according to Scor’s Adrian Jones.

Scor looks at alternatives to aggregate cover in tighter retro market

Scor is seeking alternative structures to replace all or part of the expiring aggregate covers that form part of its P&C retro programme, The Insurer can reveal.