June 11, 2021
French mutual insurer Covéa and reinsurer SCOR finally laid down their legal swords this week – opting instead for “peaceful relations” by signing a binding settlement agreement. The agreement, which “implies no admission of liability on either side,” is designed …
May 28, 2021
France’s financial markets regulator dismissed market abuse charges, which had been filed against SCOR’s Chairman and CEO Denis Kessler by the reinsurer’s largest shareholder, Covéa. The investigation “does not support allegations of market abuse,” said a statement issued by “Autorité …
May 24, 2021
Barclays Plc has been dragged into a bitter feud between two French insurers over its role in a failed hostile takeover bid. SCOR SE is suing Barclays in London for breach of confidence when the bank advised Covéa on its …
May 21, 2021
Africa Specialty Risks (ASR), a reinsurance managing general agent focused on the African corporate and specialty market, announced it has launched a fully capitalized and licensed reinsurer based in Mauritius. Alongside the reinsurer license, ASR has also been granted a …
May 18, 2021
Denis Kessler, SCOR’s chairman and chief executive officer, has decided to step down, for personal reasons, from his role as CEO at the end of his current term of office, which will expire at the reinsurer’s general meeting on June …
March 23, 2021
UFG Insurance is looking to diversify across the U.S. by expanding into assumed reinsurance business – partly via quota share arrangements, such as the recently announced deal with Topsail Re, a Cayman Islands-based reinsurer. “We’re looking to grow on a …
March 16, 2021
TransRe President and CEO Mike Sapnar is leaving the company to pursue another opportunity. He’ll stay on the job through April 30 to help with the transition. Ken Brandt, currently TransRe’s co-president of Global Underwriting, will succeed him. A member …
February 26, 2021
SiriusPoint Ltd., the Bermuda-based international specialty insurance and reinsurance company, has launched today with more than $3 billion in initial capital. The company was created from the merger of specialty reinsurer Third Point Reinsurance Ltd. and Sirius International Insurance Group …
February 22, 2021
Third Point Reinsurance Ltd. has announced additional executive and senior underwriting roles at SiriusPoint Ltd., the new company created as a result of the anticipated merger of Third Point Re and Sirius International Insurance Group Ltd. The leadership team announcements …
February 19, 2021
Swiss Re swung to a larger-than-expected annual loss on Friday, pressured by $3.9 billion in claims and reserves related to the coronavirus pandemic, but declared a dividend as the reinsurer expects a return to profit in 2021. Swiss Re and …