SCOR News

SCOR Placed Under Court Examination for Allegations Against Former Chair Kessler

French reinsurance company SCOR said on Friday it has been placed under examination by a Paris court for facts alleged against its former chairman, Denis Kessler, in relation to Covea Group’s acquisition of PartnerRe in 2022. SCOR said it firmly …

US Property/Catastrophe Reinsurance Rates Likely to Stabilize During Midyear Renewals

Reinsurance renewal rates continued dropping during this year’s January renewals, but US property/catastrophe reinsurance pricing is likely to stabilize during the coming midyear renewals, according to a report from Moody’s Ratings. “The upcoming midyear 2025 reinsurance renewals, which focus on …

Avolon, BOC Settle Lawsuit Against Insurers Over Stranded Russian Jets

Avolon and BOC Aviation, two of the world’s largest aircraft lessors, have settled lawsuits in the Irish courts against insurers over jets stranded in Russia following Western sanctions in 2022, they said on Friday. Lessors are suing dozens of insurers …

People Moves: SCOR Taps Allianz’s Schaefer as Global Head of Casualty & EIL, Succeeding Carerras; AXIS Promotes Cucciniello to Head of Primary Casualty

This edition of International People Moves details appointments at SCOR and AXIS Capital Holdings. A summary of these new hires follows here. SCOR Taps Allianz’s Schaefer as Global Head of Casualty & EIL, Succeeding Carerras SCOR announced the appointment of …

Munich Re and Swiss Re Both Top List of 2023’s Largest Reinsurers

Munich Re tops the list of the world’s 50 largest reinsurers that use IFRS 17 reporting standards, while Swiss Re is the largest non-IFRS 17 reinsurer, according to AM Best. Among the largest IFRS 17 reporting reinsurers, Munich Re is …

Reinsurer SCOR’s Recovery Clouded by First Quarterly Loss Since 2022

SCOR SE Chief Executive Officer Thierry Leger said he’s taking over control of the company’s life and health unit after it led the firm to report its first quarterly loss since 2022. The Paris-based reinsurer posted a loss of €308 …

AM Best Puts SCOR’s Credit Ratings Under Review After L&H Reserve Announcement

AM Best has placed the credit ratings of SCOR, the Paris-based reinsurer, under review with developing implications. The ratings were placed under review as a result of SCOR’s July 15 publication of an update on its second-quarter 2024 and full-year …

People Moves: SCOR Business Solutions Taps HDI’s McDonald as CEO, Succeeding Launay; Consilium Appoints Moore From Aon for Delegated Risk Solutions Team

This edition of International People Moves details appointments at SCOR Business Solutions and the re/insurance broker Consilium. A summary of these new hires follows here. SCOR Business Solutions Taps HDI’s McDonald as CEO, Succeeding Launay Reinsurer SCOR has named Claire …

Reinsurers’ Earnings Rise on Lower Disaster Losses, Improved Investment Results: Fitch

Lower natural catastrophe losses, a better investment result and strong revenue growth in property/casualty reinsurance led to strong earnings’ increases for the four main European reinsurers in the nine month-period of 2023, according to Fitch Ratings in a new report. …

How Reinsurers Can Win in the Game of Volatility

Executive summary: Reinsurance underwriting is all about finding equilibrium between reinsurers’ reason for being—reducing the volatility of cedents earnings—and producing stable profits in their own businesses. With new laws promising to change a Florida litigation environment that was out of …