SCOR News

Reinsurer SCOR Reports H1 Loss of €239M Blamed on Ukraine War, Natural Disasters

Reinsurer SCOR reported a first half loss attributed to the war in Ukraine, natural catastrophes and the severe drought in Brazil. The H1 loss of €239 million (US$242.6 million), compares with net income of €380 million (US$385.8 million) reported during …

People Moves: McMurdo to Succeed Blanc as SCOR’s CEO of Reinsurance; HDI Global Promotes Hullin to Lead Industrial Lines Division After Wohlthat Retires

This edition of International People Moves details appointments at SCOR and HDI Global. A summary of these new hires follows here. McMurdo to Succeed Blanc as SCOR’s CEO of Reinsurance SCOR announced that its CEO of Reinsurance Michel Blanc will …

World’s Biggest Re/Insurers Expanding in Africa, but Climate Change Could Hit Profits

The world’s biggest insurers are expanding in Africa, looking to tap growth promised by a rising population and middle class, but climate change could complicate their quest for profits. With Western markets overcrowded, the continent provides a rare chance to …

Natural Disasters, Ukraine War Weigh on Q1 Results of Europe’s Major Reinsurers

Three out of four of the major European reinsurers reported their profits were negatively affected as a result of elevated natural catastrophe claims and a first round of claims reserves from the Russia-Ukraine war, according to Fitch Ratings in a …

SCOR Warns of Ukraine Conflict Impact on Q1 2022 Results

Paris-based reinsurer SCOR said the company expects a first-quarter 2022 charge in the high double-digit million euros range for potential claims related to the Russia-Ukraine conflict across both treaty reinsurance and specialty insurance. “As the conflict continues, this estimate will …

SCOR Reports 19% Premium Growth in January Renewals, Average Price Hikes of 4.9%

SCOR reported 19.0% premium growth during the January property/casualty (P/C) reinsurance renewals and an overall average P/C price increase of 4.9%. SCOR said the 19% premium growth figure includes a large structured transaction in Europe on a non-catastrophe-exposed and well-balanced …

Global Life Insurers Adapt Pandemic Risk Models After Unexpected Jump in Claims

A coronavirus pandemic which lasts five years, another pandemic in a decade, and ever more transmissible variants are among the scenarios life insurers are predicting after COVID-19 claims jumped more than expected in 2021. The global life insurance industry was …

People Moves: SiriusPoint Promotes Chester for U.S./Canada Reinsurance; Banyan Risk Names Ascot’s Horrobin as Co-Founder, Co-CEO; SCOR Reinforces Sustainability Teams

This edition of International People Moves details appointments at re/insurer SiriusPoint, specialty MGA Banyan Risk and reinsurer SCOR. A summary of these new hires follows here. SiriusPoint Ltd., the Bermuda-based global specialty insurer and reinsurer, has appointed Ari Chester as …

People Moves: Definity’s Board Appoints Former Swiss Re Exec Schmid; SCOR Promotes Mumme-Young for Political & Credit Risk; Cathay Pacific’s Howell to Marsh Aviation

This edition of International People Moves details appointments at Definity Financial Corp., SCOR and Marsh. A summary of these new hires follows here. Definity Appoints Former Swiss Re Exec Schmid to Board of Directors Definity Financial Corp., the Waterloo, Ontario-based …

Leading Marine Re/Insurers Join Push to Decarbonize Global Shipping

Leading companies in the marine insurance industry have joined an initiative linking their underwriting activities with the cutting of carbon emissions from global shipping as pressure builds on the sector to go fully green. Last month countries including the United …