French market News

France to Require Insurers, Banks to Run Climate Change Stress Tests in 2020

France’s financial regulator will subject banks and insurers to climate change stress tests next year, central bank governor Francois Villeroy de Galhau said on Friday. Investors are increasingly putting pressure on companies to make concrete steps to helping implement the …

BHSI Forms Construction, Casualty Teams in France, Led by AXA XL’s Antiphon, Bonifay

Berkshire Hathaway Specialty Insurance (BHSI) announced it has commenced underwriting casualty and construction insurance in France and filled two key in-country leadership posts, naming Olivier Antiphon as head of Construction and Anne-Sophie Bonifay as head of Casualty. Antiphon comes to …

Liberty Specialty Markets Taps Brodu from AIG as Head of Financial Lines, France

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, announced the appointment of Antoine Brodu as head of Financial Lines, France, with immediate effect. Brodu joins LSM from AIG France, where he spent 13 years, most recently as client …

BHSI Gets French Insurance License, Names d’Huart from AXA XL as Country Manager

Berkshire Hathaway Specialty Insurance (BHSI) announced it has received its insurance license in France, established a new office in Paris, and appointed Fran├žois-Xavier d’Huart as country manager. Beginning immediately, BHSI is underwriting property, casualty, and executive & professional lines in …

It Was Always Going to Be Hard to Oust CEO of SCOR – and His 300% Return: Opinion

European shareholder activism has suffered a painfully public humiliation. The lesson for investors is clear: Pick your battles. Paris-based investment fund CIAM wanted to split the chairman and CEO roles at French reinsurer SCOR SE, which has been run for …

SCOR’s Shareholders Reject Attempt to Oust CEO Kessler

The shareholders of French reinsurer SCOR rejected a request by activist fund CIAM to oust chief executive Denis Kessler from the board of SCOR, although Kessler’s pay deal was only approved by a slim majority. About 54 percent of shareholders …

Liberty Specialty Markets Promotes Silvestre to Deputy Manager for France

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has promoted Emmanuel Silvestre to deputy general manager of its French operation. He reports to Richard Deguettes, general manager for France. Based in Paris, Silvestre will retain his position as …

French Activist Fund Aims to Remove SCOR CEO Kessler from Board

French activist fund CIAM will ask reinsurance company SCOR’s CEO Denis Kessler to surrender the chairmanship of the company’s board after he thwarted a takeover attempt earlier this year. CIAM, which has just under one percent of SCOR, will ask …

SCOR’s Net Profit in 2018 Rises 13% Despite Spate of Q4 Natural Disasters

French reinsurer SCOR, which was the target of a thwarted acquisition by rival Covea last year, posted a surge in overall 2018 net profits despite making a loss in the fourth quarter caused by a spate of natural disasters. Net …

Update: SCOR CEO Says Activist Fund Criticisms of Covea Tactics Constitute Slander

French reinsurer SCOR’s Chief Executive Denis Kessler promised on Tuesday to release a strategic plan that would set new targets for the company, in a move to assuage an activist fund that questioned his role in a failed takeover process. …