Scor

Léger: Reinsurers can alleviate insurability challenge through data and accumulation control

Scor CEO Thierry Léger has called on the reinsurance industry to “accept the challenge of insurability” as the interconnected risk landscape exacerbates the protection gap across nat cat business, calling exclusions “a last resort”.

Scor’s Nudo: Reinsurers not being compensated for heightened US liability risk

A deteriorating US tort environment, loss trend inflation, prior year development and flattening or reducing primary rates are all taking their toll on the US casualty market.

Scor’s Conoscente: (Re)insurance industry must increase rates to ensure pricing sustainability

While reinsurance will slightly better its cost of capital in 2023, further rate increases are necessary to match rising risk exposures and ensure the future sustainability of (re)insurance pricing, according to Jean-Paul Conoscente, CEO of Scor P&C.

Scor: Nat cat and other lines hold promise, but T&Cs and P&C portfolio balance remain key

While industry concerns mount over the increased frequency and severity of natural catastrophe events, Scor says that property catastrophe and other business lines continue to hold promise so long as the right conditions are met, and an appropriate balance can be struck across its entire P&C portfolio.

Scor targets marine, intl casualty and engineering reinsurance as its cuts back agriculture and commits to cat

Scor has provided a bullish outlook for a continuation of the hard market through the three-year period covered by its new strategic plan, with the Paris-based reinsurer planning to maintain its treaty cat XL position as it looks to take advantage of the hardening conditions.

Citi’s Shuck: Scor’s strategic plan provides reassurance on earnings

Scor’s new 2024-2026 strategic plan, Forward 2026, has provided reassurance on its path to more dependable earnings supported by a stronger balance sheet, according to Citi analyst James Shuck.

Scor reveals new targets for clean energy coverage under Forward 2026

Scor has unveiled a set of new interim targets for its business and operations relating to the energy transition, including a pledge to multiply insurance and facultative reinsurance coverage for low-carbon energy by 3.5 by the end of the decade.

Scor shares rise as investors welcome new CEO Léger’s three-year strategy

Scor has targeted a P&C net combined ratio of below 87 percent over the period from 2024-2026 amid the “best market conditions over the last two decades”, according to CEO Thierry Léger.

Europe’s big four reinsurers report ~6% price increase in 2023 renewals: Moody’s

P&C reinsurance renewals over 2023 saw continued positive pricing momentum which, combined with more favourable terms and conditions, supported stronger earnings for Europe’s big four reinsurers which are expected to continue into 2024, according to analysis by Moody’s.

Fitch: Big four reinsurers report average P&C combined ratio of 89.2% in H1

Europe’s big four reinsurers – Munich Re, Swiss Re, Hannover Re and Scor – reported an average P&C combined ratio of 89.2 percent in the first half as they benefited from better pricing and more favourable terms and conditions, according to analysis by Fitch Ratings.

Munich Re is best-placed European reinsurer to withstand major hurricane loss: Berenberg

Munich Re and Scor are the best-placed European reinsurers to withstand an active hurricane season, according to investment bank Berenberg, with Conduit Re and Beazley best positioned among London-listed carriers.

Further margin improvements ahead for European reinsurers amid shift away from lower layers

A key trend among reinsurers during 2023 renewals has been the desire to move up programs away from lower-attaching layers in favour of covers with more remote return periods.

Léger “not satisfied” with P&C attritional ratio following cautious reserving

Newly incumbent Scor CEO Thierry Léger has said he is “not satisfied” with the French reinsurer’s attritional loss ratio across its P&C business unit in the second quarter of 2023, driven by claims on French riots and further prudence on selected P&C reserves.

Scor shares fall despite Q2 88.5% P&C combined ratio

Scor has posted a P&C combined ratio of 88.5 percent for Q2 and group net income of €192mn ($213.1mn).

Scor adds marine reinsurance specialist Callaghan from Alize

Scor has brought in David Callaghan from Bermuda-based Alize with the new recruit tasked with leading the company’s book of marine and energy business in the US.

Scor unveils Brégier as new chairman

Scor has appointed Fabrice Brégier as non-executive chairman with immediate effect following a meeting of its board of directors on 25 June.

Scor’s long serving deputy global P&C reinsurance CEO Gavazzi to retire

Scor veteran Umberto Gavazzi is retiring after 37 years with the reinsurer, with the French firm turning to Manuela Colombo to succeed him as its new legal representative for its Italian branch.

Cyber insurtech Measured reveals Canopius and Scor capacity partnerships

AI-powered insurtech Measured Analytics and Insurance has announced a new capacity partnership with Canopius to offer cyber insurance and cybersecurity solutions to small and midsize US businesses, joining long-standing capacity provider Scor.

Scor mourns passing of Denis Kessler at 71

Denis Kessler, the industry titan and chairman of French reinsurance powerhouse Scor, has passed away at the age of 71. Kessler led Scor for more than 20 years and was credited with taking the company from the brink of insolvency to become a global reinsurance powerhouse.

Scor names de Varenne group CFO and deputy CEO

Paris-headquartered reinsurer Scor has appointed François de Varenne as group chief financial officer and deputy CEO.

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