Victor Peignet

CEO OF SCOR GLOBAL P&C

"In 2017, new technology began showing more tangible signs of impact on our industry. We’ve entered a transition period that will create both challenges and opportunities – from new risks and protection needs, to new ways and means to link risk to capital. SCOR is adapting to emerge as a leader in the transformation."

A TOP-TIER GLOBAL POSITION

The Property and Casualty (P&C) division of SCOR combines advanced tools, human expertise and experience in multiple lines of business across more than 160 countries. We underwrite reinsurance treaties covering Property, Motor, Casualty and Specialties. We also underwrite insurance and facultative reinsurance.

SCOR’s P&C experts stand out thanks to their spirit of long-term partnership. Their aim is to evolve alongside their clients, while ensuring direct access to decision makers. SCOR’s teams:

Lead business and provide a full range of solutions to clients.
Are committed to serving clients locally, while bringing them all the benefits of a global reinsurer.
Provide shock-absorbing capacity.

SCOR’s ambition in P&C is to continue to be a market leader and good corporate citizen, while producing excellent results.

94.3% Normalized P&C Combined ratio
(103.7% actual)

6.0 Billion euros in 2017
Gross Written Premiums

Leading on around 30% of business

1,026 Professionals
globally

Operating in more than 160 countries

29 Underwriting centers
throughout the world

A WELL-DIVERSIFIED BUSINESS MIX,
WELL SPREAD ACROSS BUSINESS LINES
AND GEOGRAPHICAL AREAS

A STRONG GLOBAL FRANCHISE
WITH BROAD CAPABILITIES

Treaty P&C

SCOR’s Treaty P&C teams provide proportional and non-proportional reinsurance in many forms across Property and Casualty Treaties. In order to build a genuine and long-term partnership with clients, SCOR is committed to a consistent underwriting philosophy.

PROPERTY TREATIES

Covering damage to underlying assets (vehicles, homes, businesses and industrial sites) and direct or contingent business interruption losses caused by fire or other perils, including natural catastrophes.

Motor

Covering original risks of motor property damage and bodily injury.

CASUALTY TREATIES

Covering general liability, professional liability, product liability, environmental liability and umbrella policies.

SPECIALTY LINES

P&C Specialty Lines are mostly written as treaty reinsurance on a proportional or non-proportional basis.
SCOR P&C underwrites on the basis of sophisticated risk evaluation, seeks flexibility and innovative approaches, and provides continuity and consistency through the backing of a strong Group.

Agriculture

SCOR provides customized risk transfer solutions and innovative approaches for crop/crop hail, livestock/bloodstock, forest, greenhouse and aquaculture, backed by a fully dedicated natural catastrophe modeling and analytics team.

Pasture insurance
Pastures are critical for many food industries. Only a tiny portion of pasture land and animals is insured against climate events such as drought, flood, and extreme temperatures.

Loyal to its long-term commitment to the sustainable development of insurance, SCOR is bringing technical expertise to develop a new pasture insurance scheme in Canada. SCOR’s agriculture team is leveraging the cutting-edge satellite processing technology developed by Airbus Defense and Space, which was already used to implement a successful pasture insurance scheme in France.

Alternative
Solutions

SCOR provides insurers, corporate clients and captives with a wide range of structured and securitized solutions for the transformation, financing and transfer of their risks. SCOR is constantly adapting to market shifts to match the growing sophistication and composite nature of reinsurance program rationale, and the increased diversification of capacity sources.

Aviation

SCOR provides (re)insurance solutions, from traditional insurance covers to bouquet multi-line structures, in all sectors of the aviation market. With a consistent and long-term underwriting philosophy, the team manages business cycles and takes a sustainable approach to both small attritional risks, and catastrophic risks.

Credit &
Surety

SCOR has been a global leader reinsuring Credit, Surety and Political risks for more than 40 years. The team draws its expertise from an unparalleled local presence in the Americas, Europe and Asia, combined with longstanding experience in the current risk industry.

Cyber
solutions

SCOR has built up cyber risk expertise to serve insurers and corporate clients on this emerging peril.

Engineering

SCOR offers a broad and flexible range of (re)insurance solutions to protect clients’ attritional and large losses for Contractors All Risks (CAR) and Erection All Risks (EAR), underpinned by a longstanding leading position in the engineering treaty market.

Inherent Defects
Insurance (IDI)

SCOR is one of the few leading players in the IDI (re)insurance market, with experience in 56 countries.
SCOR provides:
• Basic cover of construction damage caused by inherent defects in structural works,
• Tailored cover, including material damage caused by inherent defects in waterproofing works and/or in other specific parts of a construction,
• Additional extensions to IDI policies.

Marine &
Energy

SCOR offers a broad range of (re)insurance solutions to protect clients across a wide range of marine and energy risks: hull and cargo, marine liability, yacht, pleasure craft, war and strikes, upstream energy, fine art and specie. SCOR combines local knowledge with global insights in a dynamic line of business that requires constant monitoring.

Space

A pioneer in the Space industry with more than 30 years of experience, SCOR is a risk capacity provider offering cover throughout the life cycle of a satellite: construction, pre-launch, launch, commissioning, post-separation and orbit.

U.S. Property
Cat

SCOR provides insurers and their brokers with non-proportional structures and, occasionally, cat-driven proportional reinsurance cover.

Large
CORPORATE RISKS

SCOR Business Solutions is the large corporate risk insurance arm of SCOR.
The consistent and long-term approach of the 90 underwriters on the team, combined with advanced technology, risk management expertise and a healthy dose of creativity and flexibility, is what makes SCOR Business Solutions a strong insurance partner for companies in sectors like energy, oil & gas, property, liability and financial lines.

SCOR supports clients who demonstrate strong and/or improving Environmental, Social and Governance (ESG) behavior and expects to continue to increase its support for renewable energy-related projects.
In 2017, SCOR P&C:

Encouraged sustainable underwriting by creating a scoring grid to help insurance and facultative underwriters to assess Environmental, Social and Governance (ESG) practices in sensitive sectors & lines of business. The grid combines internal and external measures and is integrated into SCOR’s underwriting and referrals systems.
Stopped issuing insurance or facultative reinsurance that would specifically encourage new greenfield thermal coal mines or stand-alone lignite mines or plants.

More info: https://www.scor.com/en/media/news-press-releases/scor-announces-further-environmental-sustainability-initiatives

THE STRATEGY OF THE P&C DIVISION

FIVE STRATEGIC PILLARS

The current “Vision in Action” plan, built on continuity and consistency, focuses on five strategic pillars for the P&C division:

Treaty reinsurance is the core business.
The core is complemented with compatible insurance risk: no competing retail platform.
Using “owned” capital and underwriting produces better returns: SCOR does not rely on the capital of others to underwrite risks.
Four critical markets U.S. reinsurance - International reinsurance & specialties - Large corporate insurance - Broad distribution
Platforms, people and systems should be highly integrated: SCOR has an integrated business model that combines a worldwide network of experts, enabling proximity to clients, with transversal functions that provide strong technical drive, supervision and governance, supported by a sophisticated and consistently developed global IT infrastructure.

TECHNOLOGICAL INNOVATION

SCOR’s underwriters have access to a number of sophisticated tools. Recently major improvements have been made to the following:

“Cat platform”, which enables the Group to monitor Cat exposures in real time and therefore to optimize the portfolio and provide timely responses to market opportunities.
“Forewriter”, the underwriting platform for large corporate and industrial risks enabling real time exposures, accumulation, pricing, contracts and portfolio management.

These tools provide granular and high-quality data, accurate handling of complex programs, simultaneous multiple and blended model views, and the factoring-in of retrocession, thereby constituting a strategic competitive advantage.

Emerging Risk Radar Life & Health

Back to the top