Scor
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Varenne was previously interim CEO and group COO of Scor. -
After founder members Axa and Allianz dealt a potentially terminal blow to the Net-Zero Insurance Alliance by withdrawing, the NZIA is exploring limited options to continue.
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The reinsurer is the fifth major player to leave the organisation, following Swiss Re, Munich Re, Zurich and Hannover Re.
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Most carriers were keen to talk about how they are taking on the ongoing hard market in Q1, but some complexities partly offset their good news.
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The global P&C CEO said the carrier will deploy roughly the same capacity in the state as last year.
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The carrier continued to rebalance its portfolio towards specialty at 1.1 and 1.4.
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The reinsurer achieved rate increases of 7% across its portfolio.
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Scor’s P&C reinsurance business is expecting insurance revenue growth of up to 2% in 2023.
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Analysts find carriers have few investments in bank debt after Credit Suisse rescue.
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Kayley Stewart joins from Fidelis, and Yvonne Ledger and Kate Carrett are joining the environmental liability team.
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S&P Global Ratings has affirmed Scor’s financial strength ratings (FSR) at A+, while the French carrier’s outlook remained stable.
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The release of Swiss Re, Munich Re, Hannover Re and Scor’s year-end reports provides an update on market conditions.
