SCOR restructures Business Solutions unit

SCOR has restructured its large corporate risks insurance unit as it seeks to create a more agile and scalable operation within its wider property and casualty (P&C) division. The restructure, which also forms part of the firm’s Vision in Action strategic plan, will “increase client centricity”, SCOR said in a statement. “The new organisational structure builds on the strengths of SCOR Business Solutions: a sustained track record of profitability, a strong technical culture, and nimble positioning in the re/insurance risk transfer chain,” the French firm explained. Under the new structure, SCOR Business Solutions will be based around three regions – Europe, the Middle East and Africa (EMEA); Asia Pacific (APAC) and the Americas. Across these three regions will be six business lines: construction; property; energy; casualty; financial lines; and marine and transportation. A portfolio underwriting unit has also been created while the new position of chief technical officer has been formed, with Renaud Ambite given the role. According to SCOR’s website, SCOR Business Solutions has 2,000 active insurance clients and represents 12% of the company’s overall P&C operation. In 2017, that would equate to some €723m of gross written premium. Laurent Rousseau, who first joined the French reinsurer as an advisor to chief executive Denis Kessler in 2010, leads SCOR Business Solutions. In July 2015, Rousseau took on the role of chief underwriting officer (CUO) for SCOR Global P&C’s treaty business in Europe, Middle East and Africa. At the beginning of April, Rousseau was appointed deputy CEO of SCOR Global P&C. “The ongoing insurance sector transformation is creating opportunities, which we intend to seize with the development of our insurance platform and specialist approach,” said Rousseau, adding: “SCOR Business Solutions will be further building on its 40-year track record as a large corporate risks carrier, making the best possible use of all the potential synergies within the SCOR group.” Rousseau is supported by SCOR Business Solutions CUO Oliver Perraut and deputy CUO François Houssais. In turn, Rousseau, Perraut and Houssais are backed up by SCOR Business Solutions’ three regional heads: Frédéric Dhers in the Americas, Michael Ahn in APAC and Olivier Hautefeuille for EMEA. As SCOR explained, the new structure “combines greater business leadership and client and broker relationship management at a local level with global line of business expertise and a wider offer of products and solutions, with a view to being more relevant to clients and brokers”.

Blurred image of Reactions article content
Blurred image of Reactions article related content