Scor
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The 1 January renewal will be a battle for the biggest slice of post-Covid upside. -
Denis Kessler argued that solvent companies should be able to manage their capital base freely.
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A stable Covid-19 claims assessment within P&C and a better-than-forecast trajectory in life buoy the stock.
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The carrier adds just EUR8mn to its running Covid-19 claims tally, which now stands at EUR256mn.
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The new capacity will be welcomed by brokers and clients as conditions continue to harden.
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The changes move away from a management structure built around types of business.
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The new hires join as CFO and COO under recently arrived CEO Juan Andrade.
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The (re)insurer would, however, consider a culturally compatible merger if the opportunity arose, the chairman and CEO said.
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The carrier said it was benefitting from “exceptional market conditions in a low yield environment”.
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The executive says a time lag for start-ups to achieve profitability would favour incumbents.
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Deputy CEO Laurent Rousseau tells investors the “pruning is over” as the shares rise 11%.
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The carrier reports lower-than-expected life claims linked to the pandemic.
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