Scor

Scor seeks to claim no. 7 US reinsurance ranking

French reinsurer Scor is aiming to become the 7th largest US P&C player in volume terms over the next two years as it makes continued growth in the fertile North American market a key component of its corporate strategy.

Lloyd’s should be an “épicerie fine” rather than a supermarket: Scor’s Kessler

Since Denis Kessler took the helm of Scor in 2002, the former academic and economist has taken the French reinsurer to new heights, cementing Scor’s place as one of the industry’s most powerful carriers.

Scor to make Eur250mn investment in new strategic plan; targets 4-7% GWP growth

French reinsurer Scor has pledged to invest Eur250mn ($274.7mn) in its new strategic plan – “Quantum Leap” – as it looks to grow its top line by between 4 and 7 percent every year.

Swiss Re dips but Europe’s reinsurers hold firm as Dorian approaches

Shares in the “big four” European reinsurers — Munich Re, Swiss Re, Hannover Re, and Scor — broadly held firm on Friday, despite current projections that Hurricane Dorian is set to make landfall in Florida as a potential cat four hurricane late this weekend.

Scor profits slip to Eur480mn in H1 as top line swells

French reinsurance powerhouse Scor reported an operating result of Eur480mn ($534mn) in the first half of the year, down nearly 6 percent from the Eur508mn it posted in the same period in 2018.

Scor confirms Kessler remuneration as activist battle continues

French reinsurer Scor has taken the unusual step of verifying the results of its 2019 AGM vote to approve the pay of its CEO and chairman Denus Kessler as part of its ongoing battle with activist group CIAM.

Scor expands ILS arm with Coriolis Capital acquisition; takes AuM to $2.1bn

French reinsurance powerhouse Scor has acquired Coriolis Capital – a fund manager specializing in ILS – taking its assets under management to $2.1bn.

Scor names Jenkins CEO of Americas P&C reinsurance

Scor has made a series of internal management changes that include the appointment of John Jenkins as CEO of its P&C reinsurance operations in the Americas.

CIAM vows to keep fighting after Scor shareholder defeat

CIAM has said it will continue its campaign to reform Scor’s governance following the French reinsurer’s shareholders rejecting the activist investor’s proposals to change Denis Kessler’s remuneration and split his chairman and CEO roles.

Scor shareholders reject CIAM proposal to split Kessler’s roles

Scor’s shareholders have rejected calls from activist investment fund CIAM to oust chief executive Denis Kessler from the French reinsurer’s board, although Kessler’s pay deal was only approved by a slim majority of shareholders.

Scor P&C Q1 profit flat while top line balloons 16%

French powerhouse Scor saw gross written premiums climb to Eur1.72bn ($1.92bn) in its P&C division in the first quarter of the year – up 16.1 percent at current exchange rates – driven by a “very positive” January renewal period and portfolio growth, particularly in the US.

Covéa seeks new reinsurance acquisitions

French co-operative Covéa said its sights are set on acquisitions as it remains interested in diversifying into reinsurance despite dropping plans to buy reinsurer Scor earlier this year.

Proxy advisory firms split on removing Kessler as Scor chair

Investor advisory bodies ISS and Glass Lewis have supported CIAM’s opposition to Denis Kessler’s compensation at Scor, but ISS opposed a recommendation to split the CEO and chairman roles at the French reinsurer.

Scor activist continues war of words with claim Kessler remuneration “too high”

CIAM, the European activist fund, has continued its war of words with Scor after public hostilities resumed earlier this week.

Scor board battles back against activist CIAM

Scor has fought back against an attempt by activist shareholder CIAM to have group CEO Denis Kessler removed from his chairman role at the Paris-based reinsurer.

Scor activist group lobbying to remove Kessler as chairman

European activist group CIAM is once again putting pressure on Paris-headquartered Scor by lobbying the reinsurer’s shareholders to support a resolution to remove Group CEO Denis Kessler from also being chairman of the company.

Scor’s Blanc named reinsurance CEO in executive shake up

French reinsurer Scor has promoted Michel Blanc to CEO of reinsurance, in a swathe of executive promotions across the group.

Insurance shareholder activism to rise in 2019: Ursano

The number of activist shareholders targeting insurance companies is tipped to increase even further from the recent uptick in activity.

Scor P&C swings to Eur83mn Q4 loss

French reinsurer Scor fell into the red in its property and casualty business in the fourth quarter of 2018, reporting an operating loss of Eur83mn ($94.2mn).

Scor’s Global P&C CEO Peignet retires as Conoscente takes the helm

Scor’s chief executive officer of Global P&C Victor Peignet is to retire from the French reinsurance giant with Jean-Paul Conoscente taking up the role following his departure.

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