Scor
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The executive will also serve as a member of Scor’s executive committee.
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Hard-won profitability has given carriers room to salt away reserves.
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Five regional leaders have been appointed for P&C and life and health.
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The firm reallocated from short-tail lines amid social inflation concerns.
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The company proposed a dividend of EUR1.8 per share for 2023.
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Dejung spent 13 years at Scor, most recently as cyber CUO.
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Opportunities for profitable growth remain in 2024, the agency said.
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The executive has over two decades’ experience in the market.
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The carrier also set out detail on its alternative solutions offering.
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EGPI growth at the firm’s Alternative Solutions unit soared 191%.
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Scor partnered with Acrisure Re to build the consortium.
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Anderson first joined Scor in 2017 as a senior cyber and technology underwriter.
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The segment has bounced back from its mid-2022 nadir, but its current zenith is not that much to shout home about.
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Tokio Marine HCC restructured its marine, energy and renewables division earlier this year.
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Cat losses were within budgets despite high levels of minor events.
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Global P&C CEO Jean-Paul Conoscente, acknowledging a "heavy" quarter for attritional losses, said the carrier had taken action that should lead to ratio improvements over time.
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The French carrier's operating result was EUR257mn, an increase of more than 130% on the prior-year period.
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With new leadership at some of the largest continentals, there will be close attention to how their tactics in changing lines of business will evolve.
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Speakers at the Guy Carpenter Baden-Baden symposium said the industry must improve its prospects as an investment opportunity.
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The transaction was a partial exercise of an agreement signed by the companies in June 2021.
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Our virtual roundtable polled industry leaders on critical questions for the reinsurance market. Today, we explore how the industry can collaborate on net-zero objectives after insurers exited the Net-Zero Insurance Alliance (NZIA) in droves.
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Our virtual roundtable polled senior industry figures on the biggest questions facing the reinsurance industry. Today, we look ahead to the influences steering M&A market conditions.
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The reinsurer’s new CEO said demand is to outstrip supply as cedants grow and exposures expand.
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The French reinsurer said continued price increases, particularly on cat and US casualty, remain necessary.
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The reinsurer has announced a detailed plan to diversify its P&C reinsurance book as part of a new strategic plan.
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This is the first multi-year plan led by the new CEO.
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Downstream underwriters have been pushing for rate this year following high claims activity in 2022.
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Swiss, Munich, Hannover and Scor all delivered optimistic messages on pricing for next year.
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The new CEO said the carrier must remain focused on pricing for geopolitical uncertainty.
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The carrier also reported 9% rate increases at the summer renewals.
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The underwriter has worked at Swiss Re, Ironshore and Alize during his insurance career.
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After three years as a company director, Brégier received a unanimous recommendation from the nomination committee.
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The executive has worked for the French carrier for almost four decades in various roles in Toronto, Paris and Milan.
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The underwriter joined Scor in 2020 having previously led the cargo and specie operation at Starstone.
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The long-serving executive turned around the fortunes of the French reinsurer in a two-decade stint as leader.
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Varenne was previously interim CEO and group COO of Scor.
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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.
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