Scor
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Plus, the latest people moves and all the top news of the week. -
Opportunities for profitable growth in cat will be hard to predict, the executive said.
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The French reinsurer improved its P&C combined ratio by 7.4 points to 80.9%.
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Continental composite carriers aim to smooth volatility with new initiatives.
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CEO Thierry Léger also stressed his intention to repair the carrier’s relations with Covea.
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The mid-year renewals point to mounting pressure on reinsurance pricing.
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Covea had requested a stay in the proceedings.
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The underwriter left Navium Marine last year and before that worked at Atrium.
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Scor's CEO said the P&C market had experienced a “competitive” first half.
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The P&C segment posted an 82.5% combined ratio for the quarter.
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Hannover Re’s CEO is lowest paid among peers, despite their pay growing 77% since 2015.
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P&C combined ratios were higher than Q1 2024, and wildfires impacted Hannover Re most.
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Plus, the latest people moves and all the top news of the week.
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The CEO expects overall P&C pricing to be “stable” through 2025.
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The carrier booked LA wildfire losses of EUR148mn.
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The carrier announced a major writedown in its L&H book last year.
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London-based US excess casualty writers are increasingly looking to attach lower in the tower.
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The reinsurer said the probe concerns the alleged involvement of its former chairman.
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Chapman exited from Scor following a 13-year tenure with the carrier.
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Plus, the latest people moves and all the top news of the week.
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Sources warned some property XoL books are already running 50% loss ratios.
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Some of the Big Four are slowing growth as the market softens.
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Tim Chapman also holds the role of EMEA head of construction at Scor.
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Plus, the latest people moves and all the top news of the week.
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The reinsurer pegged the market loss at $40bn.
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The carrier pegged its LA wildfire losses at EUR140mn.
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EGPI growth at the carrier’s Alternative Solutions unit jumped 29.6%.
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Arta Nasradini joins from AIG, where she led the DACH aerospace team.
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The reinsurer has made improvements to its life and health segment, it said.
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The executive has also been made Syndicate 2015 active underwriter.
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The political violence market is in a competitive stage thanks to an influx of capacity.
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Julia Willberg joins from Hannover Re, where she has held several senior roles.
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Adrian Poxon also had oversight of engineering, aviation and space at Scor.
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The carrier said its P&C and L&H reserves have been confirmed by independent reviewers.
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Nat cat pricing is expected to be more or less flat, with rises on loss-affected programmes.
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The carrier has also completed a review of its L&H unit.
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The denial followed this publication’s report that Covéa had renewed its intentions to buy the reinsurer.
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This publication reported earlier that French mutual Covéa has engaged Scor in M&A talks.
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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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CEO Thierry Léger claims the “insurability” of global risk is becoming “challenged”.
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Scor is also limiting its exposure in political risk and cyber.
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Plus the latest people moves and all the top news of the week.
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Scor disclosed L&H troubles while Swiss Re continued reserving for US casualty.
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Léger confirmed that his move to lead the L&H unit will not be permanent.
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The P&C segment posted an 86.9% combined ratio for the quarter.
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Scor guided to a EUR400mn insurance result loss earlier this month.
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