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...Scor chief executive Thierry Léger said: “His passion for reinsurance was unparalleled, and his ambition to make Scor an industry leader never left him....
...Scor said its vice-chair, Augustin de Romanet, would chair the board until a new chair was appointed....
...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...
...Scor set out new a series of climate pledges. Read more on the Net Zero Insurance Alliance here...
...Reinsurer Scor’s departure was announced by its new chief executive at Thursday’s annual meeting, alongside a set of new climate pledges....
...Share price moves in Europe today include French reinsurer Scor, Swiss luxury group Richemont and UK spirits company Diageo: Scor: The French reinsurer reported first-quarter net income of €342mn on Friday...
...Most companies said as much, with French reinsurer Scor setting new restrictions on oil and gas coverage as it departed....
...Scor’s shares were down more than 5 per cent in early trading on Friday....
...France’s CAC 40 added 0.5 per cent, led by strong earnings from French reinsurer Scor....
...Tokio Marine, Credit Suisse, Scor, and Greensill’s administrator declined to comment on the proceedings....
...Scor is cutting back. So is Axa. A capacity crunch may already be here. That’s usually the cue for capital to come flooding into the market and prices to fall again....
...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....
...Some reinsurers, including Axis Capital, Axa and Scor, have dropped or scaled back their exposure to natural catastrophes....
...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....
...Munich Re and Scor, two other big reinsurers, report over the next week....
...Scor’s shares dipped in morning trading, against a flat market for European stocks....
...It also has to pay Scor a sum of €20m and is buying a piece of Scor’s Irish life insurance business for just over $1bn....
...This is not Covea’s only attempt to break into the reinsurance world, after a fraught bid for France’s Scor in 2018....
...Legal filings show that IAG has raised a number of concerns over the ways that policies agreed by BCC were worded and extended — including that IAG and reinsurer Scor “did not approve of the wording and...
...French activist investor CIAM has been pushing for Scor to split the roles and to make it clear what would happen when Mr Kessler stepped down, arguing last year that Scor had “no established or known succession...
...Ribadeau-Dumas, a former chief of staff to France’s prime minister, most recently served as deputy chief of French reinsurer Scor....
...Take Scor, the insurer where CIAM has a stake, for example. About 44 per cent of shareholders opposed chair and chief executive Denis Kessler’s remuneration at its last annual meeting....
...In the midst of a long governance-focused campaign from CIAM, French reinsurer Scor’s chief executive Denis Kessler decided last year to step down....
...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....
...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....
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