Scor
ILS taskforce meets government for the first time
The industry task force established to work with government to investigate ways in which more Insurance Linked Security business could be attracted to London met with representatives from HM Treasury for the first time on Friday (5 June).
Reinsurance pricing pressure to continue in 2015
Ratings agency AM Best is forecasting reinsurance pricing to remain under pressure in 2015 given continued pressure from alternative capital and the lack of a price-changing event in the past few years.
Sompo acquires 7.8% stake in Scor
Sompo Japan Nipponkoa Insurance has acquired a 7.8% stake in French reinsurer Scor.
Cedants less likely to transfer business to reinsurers, says AM Best
Europe’s 20 largest cedants are benefitting from lower reinsurance rates and stronger bargaining power according to ratings agency AM Best.
Insurers support mooted stress working party amid fears of claims surge
The creation of a working party to co-ordinate and develop management of workplace stress has been backed by insurers, following warnings the industry is in danger of “sleep-walking into an increasing flood of claims”.
Entry opportunities available as reinsurance market continues to soften
A softening reinsurance market is expected to continue to impact the reinsurance and Lloyd’s subsectors in 2015, according to a note published by Berenberg, which states that previous underperformance presents opportunities.
Aviva safeguards staff pensions with record longevity deal
Aviva has moved to protect its UK staff pensions with a record breaking £5bn longevity transaction.
DIMA appoints new board members at AGM
Dublin International Insurance & Management Association, the representative body for Ireland domiciled reinsurers, elected five directors to its board at its AGM last week.
Marsh’s Hodgins elected to DIMA board
Dublin International Insurance & Management Association, the representative body for the international reinsurance industry in Ireland, has elected five directors to its board.
Scor GWP rises 3.9% in Q1
French reinsurer Scor posted net income of €111m in the first quarter 2013, up 7% on the same period in 2012.
Cunningham COO among senior trio exit
Loss adjuster Cunningham Lindsey has confirmed that three of its most senior executives have left the company.
CNC conducted ‘incomplete economic analysis’ of cartel insurers
Improper economic analysis by Spain’s competition commission led it to wrongly find eight insurers guilty of price fixing, according to legal experts.
Scor sees 48% growth in Asian treaty business at January renewals
During the January renewals, Scor Global P&C has reported a 9% increase in gross written premiums (to Euro 2.507bn) with an expected 1.3% improvement in technical profitability for total contracts renewed and a price rise of 1.9% net of general inflation.
Cunningham Lindsey director Jonathan Clark departs to join Scor
Cunningham Lindsey UK technical director Jonathan Clark has left the recently recapitalized loss adjuster to join French reinsurance group Scor.
R&Q launches first-party Lloyd's syndicate
Scor and XL have backed new £77m capacity Lloyd's syndicate launched by Randall & Quilter that will begin underwriting on 1 January.
Scor attributes £5.7bn GWP to a 'robust' business approach
Global reinsurer Scor delivered a 13% jump in gross written premiums to €7.2bn (£5.7bn) in the first nine months of the year owing to "increased visibility in the industry".
Editor's comment: Testing our mettle
US voters were still heading to the polls as Post went to press. But with many north eastern states operating makeshift polling stations and still without electricity a week after superstorm Sandy made landfall, the closely fought election was shaping up…
Scor catastrophe bond to protect against European perils
As part of a strategy to diversify its capital protection tools, Scor has launched a multi-million pound catastrophe bond to provide protection against European windstorms, US hurricanes and earthquakes.
Scor places catastrophe bond against Europe and US perils
Scor has launched a multi-million pound catastrophe bond to provide protection against US hurricanes and earthquakes and European windstorms as part of a strategy to diversify its capital protection tools.
Scor hails renewals success with 24% premium increase
French insurer Scor Global P&C delivered a strong 24% premium increase at constant exchange rates to €462m during the June-July renewals.
Interest in India’s domestic market wanes amid rising costs
Several prospective entrants to India’s domestic insurance market have put plans on hold due to rising costs as a result of new guidelines from the Insurance Regulatory and Development Authority.
Scor and key subsidiaries upgraded to A+
French reinsurer Scor has had its insurer financial strength rating upgraded from A to A+ by Standard and Poor's along with core subsidiaries.
Scor IDS upgraded to A+
French reinsurer Scor has had its long-term issuer default rating and insurer financial strength ratings upgraded by Fitch, owing to its strong solvency and moderate debt in relation to its risk profile.
Ahmed takes up new Aon Benfield MENA CEO role
Aon Benfield has appointed Ahmed Rajab as CEO, Middle East and North Africa.