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...Global reinsurers Munich Re, Swiss Re and Scor declined to comment, while Hannover Re said in a statement that it had taken a “bespoke and differentiated approach by [insurance] client depending on the underlying...
...Zurich, an insurance group, and Hannover Re, another reinsurer, left in April. Reinsurer Swiss Re also left earlier this week....
...Most companies said as much, with French reinsurer Scor setting new restrictions on oil and gas coverage as it departed....
...He has been replaced by Thierry Léger, former chief underwriting officer at rival Swiss Re. Scor’s shares were down more than 5 per cent in early trading on Friday....
...Insurers and reinsurers Swiss Re, Hannover Re, Scor, Axa XL, Mapfre, Italy’s Generali and Fidelis have all introduced restrictions on reinsuring oil, and in some cases gas, since June last year....
...Axis Re has stopped writing new property and catastrophe reinsurance business altogether. Scor is cutting back. So is Axa. A capacity crunch may already be here....
...Some reinsurers, including Axis Capital, Axa and Scor, have dropped or scaled back their exposure to natural catastrophes....
...The rest of the exposure is held by a group of eight reinsurers including Germany’s Munich Re, France’s Scor and Berkshire Hathaway in the US....
...Munich Re and Scor, two other big reinsurers, report over the next week....
...Among the biggest reinsurance groups are the four major European players, Munich Re, Swiss Re, Hannover Re and Scor, as well as the Lloyd’s of London market and Warren Buffett’s Berkshire Hathaway....
...“We know we’re not going to get 100 per cent back but how much is very difficult to work out.”...
...Although Scor is smaller than European rivals such as Swiss Re and Munich Re, Mr Kessler is one of the most prominent names in the industry....
...The Net-Zero Insurance Alliance will be chaired by Axa and includes peers Allianz, Aviva and Zurich and reinsurers Munich Re, Scor and Swiss Re. It will launch in November the UN climate summit....
...In March Covéa agreed to buy Partner Re, a reinsurer, from Italy’s Exor for $9bn....
...Scarcity value helps explain the 1.3 times book value originally offered for the Bermuda based reinsurer, a one-fifth premium to listed rivals such as Swiss Re....
...We upgrade Scor to Buy (from Neutral). . . ....
...Shares in Swiss Re and Munich Re rose gradually through the second half of 2019, while Covéa has paid far more for PartnerRe than the $6.9bn paid by Exor, the investment company controlled by the Agnelli...
...France-based reinsurer Scor said on Thursday that it faced €442m of claims due to the pandemic, mostly from credit risks and property business interruption policies....
...Share prices of companies such as Swiss Re, Munich Re and Scor — all rivals to privately held Partner Re — have been rising since the middle of last year....
...But the mooted price for PartnerRe looks more than reasonable: at about 1.3 times last June’s book value, it is roughly a fifth higher than the multiple of rivals Swiss Re or Scor....
...Activist investor Elliott Management was targeting spirits company Pernod Ricard, Amber Capital was pushing for change at Lagardère, and Ciam at insurer Scor....
...Adrian Jones of France-based reinsurer SCOR told the publication that there were likely to be fewer deals and smaller investments....
...Its balance sheet is around two-thirds the size of the next largest, Hannover Re — and a sixth of the size of Munich Re’s. Does Scor need to bulk up to improve performance?...
...Last year, Scor considered a potential combination with Partner Re, a Bermuda-based reinsurance company, in a move that would have given it added scale....
...raised to “buy” at Commerzbank; Scor raised to “buy” at Commerzbank; Shop Apotheke rated new “overweight” at Barclays; Tritax Big Box rated new “hold” at Peel Hunt; UCB raised to “buy” at Citigroup; Unibail...
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