SCOR SE

SCOR SE is a French reinsurance group headquartered in Paris. The company provides reinsurance capacity and related risk-management services to insurers internationally, with its principal activities organized around property and casualty reinsurance, life and health reinsurance, specialty insurance, and investment management. Reinsurance allows primary insurers to transfer part of the risks they underwrite, helping them manage capital, claims volatility, catastrophe exposure, mortality and longevity risks, and the financial consequences of large or unusual losses. SCOR was created in Paris in 1970 with backing from the French government. Its original name was Société Commerciale de Réassurance, from which the acronym SCOR was derived. The company was established during a period when France sought to strengthen its own reinsurance capabilities and maintain a significant presence in an international market historically dominated by large global reinsurers. Over time, SCOR developed from a French institution into a broadly international group serving insurance markets across many jurisdictions. A major turning point came in the 1990s and early 2000s. In 1996, SCOR acquired the reinsurance business of Allstate, expanding its international platform. In 2002, after a period in which the company had come close to collapse, Denis Kessler became chairman and chief executive officer. Under Kessler's leadership, SCOR pursued a recovery and expansion strategy that included several acquisitions. These transactions included ReMark, Revios, Converium, Transamerica Re, and Generali US, strengthening the group's life, property and casualty, and international reinsurance capabilities. SCOR's business is generally presented through three principal operating areas. SCOR Global P&C covers property and casualty reinsurance, including risks associated with commercial and personal insurance portfolios. SCOR Global Life focuses on life reinsurance and related mortality, longevity, and health-related risks. SCOR Global Investments manages assets and supports the investment activities associated with the group. The company has also operated specialty-insurance activities through SCOR Business Solutions and SCOR Syndicate, extending its role beyond traditional treaty and facultative reinsurance. The group has used both conventional reinsurance and alternative risk-transfer structures. In 2019, SCOR purchased Coriolis Capital, an insurance-linked securities fund manager. The transaction, completed in September 2019, expanded SCOR's position in insurance-linked securities and increased the value of its ILS portfolio to more than $2 billion according to the cited reference material. Insurance-linked securities enable institutional investors to participate in insurance risks, particularly catastrophe-related exposures, through capital-market instruments and funds. SCOR has been publicly traded in Paris and has been included in French equity-market indices. In 2007, it became the first French listed company to use the SE suffix in its name, reflecting its legal form as a Societas Europaea, or European company. The company also delisted from the New York Stock Exchange in 2007 while retaining its Paris listing. Beyond its commercial activities, SCOR has supported research and the development of knowledge about risk. In 2011, it established the SCOR Corporate Foundation for Science to support scientific research and work connected with risk-related knowledge. The foundation forms part of the group's broader effort to connect reinsurance practice with research into uncertainty, hazards, insurance, and risk measurement. SCOR is described in the reference material as one of the world's leading reinsurers and as the world's fourth-largest reinsurer. It has more than 3,000 employees and a presence in approximately 160 countries. Its present identity is therefore that of a diversified, internationally active reinsurance group rather than a consumer-facing in…

SCOR was founded in Paris in 1970 with the support of the French government. Its original name, Société Commerciale de Réassurance, supplied the acronym SCOR. The company was created to establish a substantial French presence in international reinsurance, a sector in which insurers transfer portions of their risks to specialist counterparties in exchange for premiums. During its early development, SCOR built an international reinsurance platform rather than remaining limited to the French market. The acquisition of Allstate's reinsurance business in 1996 marked an important expansion of its overseas activities. The transaction gave SCOR additional business and international reach at a time when global scale was becoming increasingly important in reinsurance. The company experienced a serious financial crisis before 2002 and was described in the reference material as having come close to collapse. Denis Kessler became chairman and chief executive in 2002 with a mandate to restore the company's performance and strengthen its position. His tenure was associated with a series of acquisitions, including ReMark, Revios, Converium, Transamerica Re, and Generali US. These purchases broadened SCOR's capabilities across life, property and casualty, and other reinsurance activities. SCOR's corporate structure developed around several major operating platforms. SCOR Global P&C handled property and casualty reinsurance, while SCOR Global Life focused on life reinsurance. SCOR Global Investments managed the group's investments and related asset-management activities. The group also included specialty-insurance operations such as SCOR Business Solutions and SCOR Syndicate. Together, these activities gave SCOR exposure to both traditional reinsurance and more specialized insurance markets. SCOR's public-market identity changed during the 2000s. Its shares traded in Paris and were included in French equity indices. In 2007, the company delisted from the New York Stock Exchange. That same year, it became the first French listed company to use the SE suffix in its name. The suffix identifies a Societas Europaea, a legal form intended for companies operating across European national boundaries. In 2011, SCOR created the SCOR Corporate Foundation for Science. The foundation's purpose was to support scientific research and the advancement of knowledge concerning risk. This initiative reflected the technical and analytical nature of reinsurance, where underwriting decisions depend on the study of mortality, catastrophe exposure, climate and environmental hazards, financial volatility, and other forms of uncertainty. SCOR continued to expand into alternative forms of risk transfer. In May 2019, it purchased Coriolis Capital, an insurance-linked securities fund manager. The acquisition was completed in September 2019 and increased SCOR's insurance-linked securities portfolio to more than $2 billion according to the cited reference. Insurance-linked securities connect insurance risks with capital-market investors and can supplement the capacity available through conventional reinsurance. The reference material describes SCOR as one of the leading global reinsurers and as the world's fourth-largest reinsurer. It reports a presence in 160 countries and more than 3,000 employees. The group's modern identity is based on a combination of property and casualty reinsurance, life and health reinsurance, specialty insurance, and investment activities. SCOR primarily serves professional insurance and financial counterparties rather than retail consumers, and its role is to provide global risk capacity, diversification, technical expertise, and capital support.

1. 2019Coriolis Capital acquisition completed

   SCOR completes its acquisition of insurance-linked securities fund manager Coriolis Capital.

   Source
2. 2011SCOR Corporate Foundation for Science founded

   The company establishes a foundation supporting scientific research and risk-related knowledge.

   Source
3. 2007SCOR becomes an SE

   SCOR adopts the SE suffix, identifying the company as a Societas Europaea and becoming the first French listed company to use the designation.

   Source
4. 2007New York Stock Exchange delisting

   SCOR delists from the New York Stock Exchange while remaining listed in Paris.

   Source
5. 2002Denis Kessler takes leadership

   Denis Kessler becomes chairman and chief executive after a period of major financial difficulty.

   Source
6. 1996Allstate reinsurance business acquired

   SCOR acquires Allstate's reinsurance business, supporting the expansion of its international platform.

   Source
7. 1970SCOR is founded in Paris

   SCOR is established with backing from the French government under the name Société Commerciale de Réassurance.

   Source

A globally diversified, professional reinsurance group positioned around financial strength, risk diversification, scientific risk knowledge, and solutions for both property-and-casualty and life-and-health insurers.

• SCOR Global P&CProperty and casualty reinsurance

  SCOR Global P&C provides reinsurance for property and casualty risks. Its scope covers the risks held by primary insurers in areas such as property, commercial liability, personal lines, and other non-life portfolios. Reinsurance in this segment helps insurers manage accumulation, catastrophe exposure, claims volatility, and capital requirements. The business is a central part of SCOR's global reinsurance platform.

• SCOR Global LifeLife and health reinsurance

  SCOR Global Life provides life and health reinsurance solutions to insurance companies. The activity addresses risks associated with mortality, longevity, health-related claims, and life-insurance portfolios. By transferring selected risks to SCOR, primary insurers can obtain additional capacity and manage the financial variability of their portfolios. The life business is one of the group's principal operating lines.

• SCOR Global InvestmentsAsset management

  SCOR Global Investments manages assets connected with the group's reinsurance operations and investment activities. Its role supports the management of capital generated by premiums and reserves, subject to the liquidity, risk, and return requirements of a global reinsurer. The unit forms the investment-management component of SCOR's operating structure.

• SCOR Business SolutionsSpecialty insurance

  SCOR Business Solutions is identified in the reference material as part of SCOR's specialty-insurance activities. It represents the group's participation in more specialized insurance and risk-transfer opportunities beyond its core property-and-casualty and life-reinsurance platforms.

• SCOR SyndicateSpecialty insurance

  SCOR Syndicate is identified as a specialty-insurance business within the SCOR group. The unit extends the group's participation in specialized underwriting structures and complements its conventional reinsurance activities.

• Insurance-linked securitiesAlternative risk transfer2019

  SCOR participates in insurance-linked securities through its investment and alternative-risk-transfer activities. In 2019, the group acquired Coriolis Capital, an ILS fund manager. ILS structures allow insurance risks, particularly catastrophe-related exposures, to be distributed to capital-market investors and can supplement traditional reinsurance capacity.

• 2011SCOR Corporate Foundation for Science

  Global

  SCOR established a corporate foundation to support scientific research and the development of knowledge relating to risk, reflecting the analytical and research-intensive character of reinsurance.

  Outcome. The foundation became part of SCOR's research and knowledge-development activities.

  Source

• 2019Acquire Coriolis CapitalM&A

  SCOR sought to expand its insurance-linked securities and alternative-risk-transfer capabilities.

  What changed. SCOR purchased Coriolis Capital, an insurance-linked securities fund manager; the transaction was completed in September 2019.

  Aftermath. The acquisition increased SCOR's insurance-linked securities portfolio to more than $2 billion according to the reference material.

  Insurance-linked securities portfolio. More than $2 billion (2019, after completion of the Coriolis Capital acquisition)

  Source
• 2007Adopt the Societas Europaea legal designationOther

  SCOR operated across European and international insurance markets and changed its corporate designation.

  What changed. The company adopted the SE suffix in its name.

  Aftermath. SCOR became the first French listed company to use the SE designation.

  Source
• 2007Delist from the New York Stock ExchangeStrategy

  SCOR maintained a Paris listing while reviewing its public-market structure.

  What changed. The company delisted its shares from the New York Stock Exchange.

  Aftermath. SCOR continued to be listed in Paris.

  Source
• 2002Recovery and expansion under Denis KesslerStrategy

  SCOR had experienced severe financial difficulties and was described as having come close to collapse.

  What changed. Denis Kessler became chairman and chief executive and initiated a program focused on restoring financial performance, supported by subsequent acquisitions.

  Aftermath. SCOR pursued a broader international position through acquisitions including ReMark, Revios, Converium, Transamerica Re, and Generali US.

  Source
• 1996Acquire Allstate's reinsurance businessM&A

  SCOR was expanding its international reinsurance operations and sought additional scale and business reach.

  What changed. The company acquired the reinsurance business of Allstate.

  Aftermath. The transaction strengthened SCOR's international reinsurance platform.

  Source

• 2019SCOR agrees to acquire Coriolis Capital

  SCOR announced the purchase of Coriolis Capital, an insurance-linked securities fund manager, to expand its alternative-risk-transfer activities.

  M&A
  Source
• 2019SCOR completes Coriolis Capital acquisition

  The Coriolis Capital transaction was completed in September, increasing SCOR's insurance-linked securities portfolio to more than $2 billion according to the reference material.

  M&A
  Source
• 2011SCOR establishes its Corporate Foundation for Science

  SCOR founded a corporate foundation to support scientific research and the development of knowledge related to risk.

  Other
  Source
• 2007SCOR adopts the SE designation

  SCOR became the first French listed company to use the SE suffix, reflecting its status as a Societas Europaea.

  Other
  Source
• 2007SCOR delists from the New York Stock Exchange

  The company removed its shares from the New York Stock Exchange while continuing its Paris listing.

  Other
  Source
• 2002Denis Kessler becomes SCOR chairman and chief executive

  Following a period of severe financial difficulty, Denis Kessler took leadership of SCOR and pursued a recovery and expansion program.

  Leadership change
  Source
• 1996SCOR acquires Allstate's reinsurance business

  SCOR expanded its international reinsurance activities through the acquisition of the reinsurance business of Allstate.

  M&A
  Source

1. SCOR SE