Scor looks to build property & casualty business to 60% of total-CEO -Breaking
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© Reuters. FILE PHOTO – The logo for Scor, a reinsurance company, can be seen in its Paris headquarters. This was taken February 24, 2016, Paris France. REUTERS/Charles PlatiauLONDON/FRANKFURT (Reuters) – French reinsurer Scor wants to build its property and casualty (P&C) business back up to 60% of its total business, with life and health at 40%, Chief Executive Laurent Rousseau said at the Reuters Future of Insurance Europe conference on Friday
Rousseau stated in an interview that the split reverses recent trends, but it makes the sector more appealing because of the higher property premiums.
Rousseau was appointed as CEO in January. After large claims for flooding in Europe, and Hurricane Ida in America, the company suffered a loss in its third quarter.
Natural catastrophes have brought a lot of volatility to the P&C division, Rousseau said.
“So we intend to be in the non-cat part of the P&C businesses,” he said.
Company is currently forming a new strategy plan, which it will unveil in spring.
For more on the Reuters Future of Insurance Europe conference please click here https://reutersevents.com/events/insuranceeurope
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