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Francine is expected to make landfall in Louisiana tomorrow.
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The estimate from the Perils-owned company does not include any losses from Hurricane Debby.
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The underwriting venture, Florida Re, will target both US and LatAm markets.
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This publication reported earlier that French mutual Covéa has engaged Scor in M&A talks.
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Current head of specialty Paul Upton will move to become chairman of the division.
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Colin Dutkiewicz has held senior roles at Aon and Swiss Re.
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A roundup of all the news you need today, including London company treaty business growth in 2023.
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Envelop Risk Solutions will provide technical assistance and advisory services.
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The mutual’s approach comes as Scor continues efforts to fight back from performance issues including a flare-up in L&H.
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Phil Taylor joins from Everest Re, where he was global head of specialty reinsurance.
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The move follows the recent appointment of Aon’s Brad Melvin as US president and CEO.
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Rachel Cohn joins from Gen Re, where she was senior international casualty facultative underwriter.