SCOR’s corporate governance is strong, diverse and independent.
Corporate Governance
As a listed Group, SCOR adheres closely to best practices. Since 2008, SCOR has adopted the Corporate Governance Code for listed corporations (Code de gouvernement d'entreprise des sociétés cotées) published by the AFEP (Association Française des entreprises privées) and the MEDEF (Mouvement des entreprises de France) (hereinafter the "AFEP-MEDEF Code") as its corporate governance code of reference. Two governance bodies play a key role in meeting the Group’s strategic objectives and ensuring appropriate management of risks: the Board of Directors, which is supported by seven committees and includes a Vice-Chairman, and the Group Executive Committee.
The Board of Directors
The SCOR SE Board of Directors establishes the Group’s business plan and strategy, ensures its implementation, and oversees the social and environmental implications of SCOR’s activity.
The Board of Directors is currently composed of 15 directors including two employee-elected directors:
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Fabrice BrégierChairman of the Board of Directors Fabrice Brégier, a French citizen, is a graduate of École polytechnique and a Chief Engineer of the Corps des mines. He began his career at the DRIRE Alsace (Ministry of Industry and Trade) before being appointed Sub-Director of Economic, International and Financial Affairs at the Ministry of Agriculture (Directorate-General for Food) in 1989. After serving as an Advisor to several French Ministers from 1989 to 1993, Fabrice Brégier was appointed Chairman of Franco-German joint ventures at Matra Défense, Director of Standoff activities at Matra BAe Dynamics, and then Chief Executive Officer of MBD/MBDA. Before becoming a member of the Executive Committee of Airbus in 2005, he was Chairman and Chief Executive Officer of Eurocopter from 2003 to 2005. Fabrice Brégier has twenty years of experience in aerospace and defense. He has spent a large part of his professional career at Airbus Group, holding the position of Airbus COO between 2006 and 2012, then Airbus President and Chief Executive Officer between 2012 and 2017, and finally COO of Airbus and Chairman of Airbus Commercial Aircraft between 2017 and 2018. Fabrice Brégier has been Chairman of Palantir France since October 2018. |
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Augustin de RomanetVice-Chairman of the Board of Directors Augustin de Romanet, a French citizen, is a graduate of the Institut d'études politiques in Paris and a former student of the École nationale d’administration. He was previously Chief Executive Officer of Caisse des dépôts et consignations, between 2007 and 2012, and chaired the Fonds stratégique d’investissement between 2009 and 2012. Prior to that, he was Deputy Finance Director at Crédit Agricole S.A. and a member of the Executive Committee. Augustin de Romanet also served as Deputy Secretary General to the French President, between June 2005 and October 2006, and held positions in various ministerial offices. In particular, between 2002 and 2005, he was Chief of Staff to Alain Lambert, Minister Delegate for the Budget, Deputy Chief of Staff to Francis Mer, Minister for the Economy, Finance and Industry, Chief of Staff to Jean-Louis Borloo, Minister for Employment, Labor and Social Cohesion, and lastly, Deputy Chief of Staff to French Prime Minister Jean-Pierre Raffarin. Awarded the Légion d’honneur in 2007, Augustin de Romanet has received a number of awards, notably “Capitalist of the Year” awarded by the Le Nouvel Économiste magazine in 2008 and “Financier of the Year” awarded by the Minister of the Economy in 2012. Augustin de Romanet has been Chairman and Chief Executive Officer of Aéroports de Paris since 2012 and Chairman of Paris Europlace since July 2018. |
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Marc BükerDirector representing employees Marc Büker, a French and Turkish citizen, graduated from the University of Paris I – Sorbonne, in International Business Law. He began his career in journalism and launched the first private radio station in Turkey in 1992, then the country’s first private television company forming a group he sold in 2002. He joined SCOR in 2002, initially working in the P&C Treaty Department as an underwriter for markets such as North Africa, South Africa, the Middle East and the Gulf countries. He is currently Market Manager for the Southern Mediterranean, North Africa and French-speaking Africa regions. Within the Company, he initiated the SCOR classical musical project, which involves the organization of concerts and the detection of young talents. |
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Adrien CouretDirector Adrien Couret, a French citizen, holds a degree from HEC business school (École des hautes études commerciales) and is a Fellow of the French Institute of Actuaries. Since 2008, he has held various executive roles as part of mutual insurance company Macif’s management team, successively overseeing Strategy, Performance, Transformation and Innovation. He was named Chief Executive Officer of Macif in 2019. That same year, he became Vice-Chairman of the Association des assureurs mutualistes (AAM). In July 2020 and after having been a director since 2014, he took on the role of Chairman of the Board of Directors of Ofi Asset Management, an asset management subsidiary of the Macif group. Since January 2021, Adrien Couret has been Chief Executive Officer of Aéma Groupe, a new French mutual insurance group specializing in health protection, which was created following the merger of Aésio Mutuelle and Macif. |
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Martine GerowDirector Martine Gerow, a French and American citizen, is a graduate of HEC business school (École des hautes études commerciales) and holds an MBA from Columbia University-Graduate School of Business in New York. She is currently the Chief Financial Officer of American Express Global Business Travel and previously held several positions in the finance departments of Carlson Wagonlit Travel, Solocal and Campofrio. |
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Patricia LacosteDirector Patricia Lacoste, a French citizen, is a graduate of the French École nationale de la statistique et de l’administration économique (ENSAE) and holds a Master’s degree in Econometrics. She began her career in 1985 as a statistical research engineer within the consulting firm COREF. She then joined the SNCF in 1992 where she successively held the positions of Project Manager for the Socrate reservation system, Director of Distribution, Director of Traveler Sales, Director of the Paris-Est Region in charge of the preparation and launch of the TGV Est Européen, Director of Senior Management in the Human Resources Division, and then Director of Customer Relations. In 2012, she joined the Prévoir group as Chief Executive Officer and since 2013, has held the position of Chair and Chief Executive Officer of Société Centrale Prévoir and its subsidiary Prévoir-Vie. |
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Thierry LégerDirector Thierry Léger, a dual French and Swiss citizen, holds a Master’s degree in Civil Engineering from the Swiss Federal Institute of Technology (ETH Zürich) and an Executive MBA from the University of St.Gallen, Switzerland. He began his career in the civil construction industry before joining Swiss Re as an engineering underwriter in 1997. In 2001 he moved to Swiss Re New Markets, providing non-traditional (or alternative) risk transfer solutions to insurance clients. Between 2003 and 2005 he was a member of the executive team in France as leader of the sales team. From 2006, Thierry Léger assumed increasing responsibility for Swiss Re’s largest clients, ultimately becoming the Head of the newly-created Globals Division in 2010 and a member of the then existing Group Management Board. In 2013, Thierry Léger became Head of Life & Health Products Reinsurance. As of January 2016, he was appointed Chief Executive Officer Life Capital and member of the Swiss Re Executive Committee. In September 2020, he assumed the role of Group Chief Underwriting Officer. He joined SCOR as Chief Executive Officer on May 1, 2023. Thierry Léger is married and is the father of two young adults. |
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Vanessa MarquetteDirector Vanessa Marquette, a Belgian citizen, holds a law degree and an economic law degree from the Université Libre de Bruxelles. She also studied law at Davis University and Berkeley University and she holds an LLM degree from the University of Michigan Law School. She has practiced as a lawyer registered with the Brussels Bar since 1995, and specializes in banking law and financial law. She also has particular expertise in the areas of corporate law, insolvency law and security interests and private international law. She has taught international financial law at the Université Libre de Bruxelles since 2004 and is the author of numerous publications on banking and financial law. |
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Bruno PfisterDirector Bruno Pfister, a Swiss citizen, lawyer registered with the Geneva Bar and an MBA graduate from UCLA Anderson School of Management, was Chairman of the Board of Directors of Rothschild & Co Bank AG from December 2014 to September 2019. He was Vice-Chairman of the Swiss Insurance Association, Chief Executive Officer and Chairman of Swiss Life AG group, a member of the Executive Committee of the Crédit Suisse Banking division and Chief Financial Officer and member of the Executive Board of LGT group AG. |
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Pietro SantoroDirector representing employees Pietro Santoro, a German and Italian citizen, began his career at Wacker Chemie AG in the financial accounting and management control department after finishing his apprenticeship as an industrial sales clerk. He joined SCOR in 2002 as a purchaser (General Services Manager) in the General Services Department. Since 2013, he has been a member of the SCOR Group’s Common European Companies Committee (CCSE) and since 2014, a member of the German Works Council of which he was elected Chairman in 2019. |
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Holding Malakoff Humanis represented by Thomas SaunierDirector Thomas Saunier, a French citizen, is a graduate of École polytechnique, ENSAE and the French Institute of Actuaries. Head of the Actuarial Department and Director of Steering and Management Control at CNP Assurances from 2000 to 2003, he spent more than 10 years at Generali France, initially as Deputy Chief Executive Officer responsible for products, operations and information and finance systems. |
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Claude TendilDirector Claude Tendil, a French citizen, began his career at the Union des Assurances de Paris (UAP) in 1972. He joined the Drouot group in 1980 as Chief Operating Officer. He was promoted in 1987 to Chief Executive Officer, before being appointed Chairman and Chief Executive Officer of Présence Assurances, a subsidiary of the AXA group. He was appointed director and Chief Executive Officer of AXA-Midi Assurances in 1989 and served as Chief Executive Officer of AXA from 1991 to 2000, then Vice-Chairman of the Management Board of the AXA group until November 2001. During the same period, he was also Chairman and Chief Executive Officer of the AXA group’s French insurance and assistance companies. Claude Tendil was Chairman and Chief Executive Officer of the Generali group in France from April 2002 until October 2013, when he became the Chairman of the Board of Directors, holding this position until June 2016. |
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Natacha VallaDirector Natacha Valla, a French citizen, is an economist, and is currently Dean of the School of Management and Innovation at Sciences Po Paris. |
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Zhen WangDirector Zhen Wang, a Chinese citizen, holds a Bachelor’s degree from the Beijing Normal University, and is a Fellow of the Chartered Insurance Institute (FCII). She began her insurance career in 1982 by joining the Chinese state-owned insurance company PICC, and became the General Manager of the International Department in 1996 when PICC became the PICC group. From 1997 to 2016, she worked for Munich Re where she was the Chief Representative of Munich Re Beijing, then Chief Executive Officer of Munich Re Beijing Branch and a member of the Munich Re Greater China Advisory Board. Zhen Wang has been an independent director of Bank of China Insurance Company since 2014, of Trust Mutual Life Insurance Company in China since 2017 and of PICC Re since 2020. |
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Fields Wicker-MiurinDirector Fields Wicker-Miurin, an American and British citizen, studied in France at the Institut d'études politiques de Paris, in the United States and Italy. She graduated from the University of Virginia (BA) and the School of Advanced International Studies of Johns Hopkins University (MA). |
SCOR’s Board of Directors has seven active and specialized advisory committees, which prepare its proceedings and make recommendations on specific subjects.
The Audit Committee is composed of Bruno Pfister (Chair), Fabrice Brégier, Adrien Couret, Martine Gerow, Patricia Lacoste,Augustin de Romanet and Natacha Valla. Each of its members is independent.
Due to the experience and positions held by its members during their career, the Committee has a high level of financial expertise.
The Risk Committee is composed of Adrien Couret (Chairman), Fabrice Brégier, Vanessa Marquette, Bruno Pfister, Augustin de Romanet, Natacha Valla, Zhen Wang and Fields Wicker-Miurin. Each of its members is independent.
The Compensation Committee is composed of Fields Wicker-Miurin (Chair), Marc M. Büker (director representing employees), Patricia Lacoste, Vanessa Marquette, Bruno Pfister and Claude Tendil. Except for the director representing employees and Claude Tendil, the Committee members are independent.
The Nomination Committee is composed of Vanessa Marquette (Chair), Adrien Couret, Thomas Saunier (as representative of Holding Malakoff Humanis), Claude Tendil et Fields Wicker-Miurin. Except for Claude Tendil, the Committee members are independent.
The Sustainability Committee is composed of Augustin de Romanet (Chairman), Martine Gerow, Patricia Lacoste, Vanessa Marquette, Pietro Santoro (director representing employees), Natacha Valla and Fields Wicker-Miurin. Except the director representing employees, the other members are independent.
The Crisis Management Committee is composed of Fabrice Brégier (Chairman), Adrien Couret, Vanessa Marquette, Bruno Pfister, Augustin de Romanet, Claude Tendil et Fields Wicker-Miurin.
The Vice-Chairman
The Vice-Chairman, appointed by the Board of Directors among the independent directors, assists the Chairman of the Board of Directors in his missions, in particular in organising the board and its committees and ensuring they function properly, and in supervising corporate governance.
The chairman of the board of directors and the CEO keep the vice-chairman regularly informed of events and important situations related to the Group, in particular concerning strategy, organisation and financial reporting, major investment and divestment projects, major financial transactions, changes in share capital and contacts with principal current or potential shareholders. He may add any subject he deems necessary to the agenda of the board of director’s meetings. He advises corporate officers who believe they may be in a conflict of interest position.
The Vice-Chairman of the Board of Directors is Augustin de Romanet.
Executive Committee
SCOR’s Executive Committee is responsible for implementing the strategy adopted by the Board of Directors. The Chief Executive Officer has executive authority to manage SCOR’s business, subject to the prior authorization of the Board of Directors or the Shareholders’ Meeting for certain decisions. As the French Code des Assurances stipulates that the effective management of a company must be performed by at least two persons (ie; the “four-eye principle”), the Board of Directors has designated the Chief Executive Officers of SCOR Property & Casualty and SCOR Life & Health to carry out these functions.
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Thierry LégerChief Executive Officer of SCOR Thierry Léger, a dual French and Swiss citizen, holds a Master’s degree in Civil Engineering from the Swiss Federal Institute of Technology (ETH Zürich) and an Executive MBA from the University of St.Gallen, Switzerland. He began his career in the civil construction industry before joining Swiss Re as an engineering underwriter in 1997. In 2001 he moved to Swiss Re New Markets, providing non-traditional (or alternative) risk transfer solutions to insurance clients. Between 2003 and 2005 he was a member of the executive team in France as leader of the sales team. From 2006, Thierry Léger assumed increasing responsibility for Swiss Re’s largest clients, ultimately becoming the Head of the newly-created Globals Division in 2010 and a member of the then existing Group Management Board. In 2013, Thierry Léger became Head of Life & Health Products Reinsurance. As of January 2016, he was appointed Chief Executive Officer Life Capital and member of the Swiss Re Executive Committee. In September 2020, he assumed the role of Group Chief Underwriting Officer. He joined SCOR as Chief Executive Officer on May 1, 2023. Thierry Léger is married and is the father of two young adults. |
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François de VarenneGroup Chief Financial Officer and Deputy Chief Executive Officer of SCOR François de Varenne, a French citizen, is a graduate of the École Polytechnique and a civil engineer of the Ponts et Chaussées. He holds a PhD in finance and graduated as an actuary from the Institut de Science Financière et d’Assurances (ISFA). François de Varenne joined the Fédération Française des Sociétés d’Assurances (FFSA) in 1993 as Manager of Economic and Financial Affairs. In London, beginning in 1998, he served successively as Insurance Strategist with Lehman Brothers, Vice-President for asset management solutions, and structured transactions specialist in insurance and reinsurance companies at Merrill Lynch and then at Deutsche Bank. In 2003, he became Managing Partner of Gimar Finance & Cie. He joined SCOR in 2005 as Director of Corporate Finance and Asset Management. On September 3, 2007, he was named Group Chief Operating Officer and joined the Executive Committee. On October 29, 2008, François de Varenne was appointed Chief Executive Officer of SCOR Global Investments. In September 2021, he began oversight of an enlarged area of leadership including Investments, Technology, Budget, Transformation and Group Corporate Finance. From January 26, 2023, to April 30, 2023, he was Interim CEO of SCOR. |
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Jean-Paul ConoscenteChief Executive Officer of SCOR Property & Casualty Jean-Paul Conoscente, an American and French citizen, is a graduate of the University of California Berkeley (Master of Science in Structural Engineering) and the Ecole des Travaux Publics, Paris (Engineering Diploma in Civil Engineering). He started his career in earthquake engineering in California and then in CAT Modeling as the European head of the Modeling firm EQECAT. He subsequently held several senior positions with AON Benfield as a reinsurance broker in London and Paris, and then with AXA Re in Paris as the Global Head of Property. In 2008, he joined SCOR in New York as Chief Underwriting Officer for the Americas for SCOR Global P&C; he helped transform SCOR’s team and portfolio in the Americas before taking on the role of CEO of SCOR’s P&C U.S. Operations in 2016. Following SCOR Global P&C’s restructuring in September 2018, Jean-Paul Conoscente became its CEO of Reinsurance globally. |
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Frieder KnüplingChief Executive Officer of SCOR Life & Health Frieder Knüpling, a German citizen, has been a member of SCOR’s Group Executive Committee since 2010, serving first as Deputy CEO of SCOR Global Life, then as Deputy Group Chief Risk Officer and finally as Group Chief Risk Officer. Before this, he held various actuarial, risk and finance roles at SCOR, Revios and Gerling Global Re. He holds academic degrees in Mathematics and Physics, and a PhD in Economics. He is a fellow of the Deutsche Aktuarvereinigung (DAV). |
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Romain LaunayDeputy Chief Executive Officer of SCOR Property & Casualty Romain Launay, a French citizen, is a graduate of the École Polytechnique, of the École des Mines de Paris and of the Centre des Hautes Études de l’Assurance. Having occupied various positions at the French Ministry for Economy and Finance between 2004 and 2009, he became Technical Advisor to the Prime Minister in 2009. He joined SCOR in February 2012 as Senior Advisor to the Chairman and Chief Executive Officer, before being appointed Group General Secretary in May 2014. In February 2016, Romain Launay became Group Chief Operating Officer. In September 2021, he is named Deputy Chief Executive Officer of SCOR Global P&C and CEO of Specialty Insurance. |
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Claire Le Gall-RobinsonGroup General Secretary | Governance, Human Resources, Sustainability, Legal & Compliance and Communications Claire Le Gall-Robinson, a French citizen, is a lawyer admitted to the Paris and New York Bars and a graduate of Harvard Law School (Master of Laws) and the Paris II- Panthéon Assas University (Corporate and Tax law, Major de promotion). She practiced for more than 17 years in leading U.S. law firms Sullivan & Cromwell LLP and Skadden, Arps, Slate, Meagher & Flom LLP. Prior to joining SCOR in 2016 as Group General Secretary, she was a partner of the UK law firm Gowling WLG. She has taught at the Sciences Po Law School since 2010. She has authored articles on various topics relating to corporate law and co-authored a book on commercial law published by Editions Dalloz. In March 2021, she was appointed to SCOR’s Group Executive Committee. In this capacity, she is responsible for all Governance, Legal and Compliance matters across the Group. She is also in charge of the Group’s Sustainability strategy, Human Resources and Communications. |
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Fabian UfferGroup Chief Risk Officer Fabian Uffer, a Swiss citizen, started his career in 2003 as a life actuary in the insurance industry at Allianz Suisse. Following this, he worked at a startup company named CelsiusPro and developed a weather derivative pricing engine. In 2009 Fabian Uffer joined SCOR in the P&C Risk Management department. He then transitioned to Group Financial Modelling and Risk Analysis, where he held various positions including Head of Risk Modelling. In 2021 he was appointed Chief Risk Officer. Fabian studied at the University of Waterloo and holds a Masters in mathematics from the ETH Zürich. He is a fully qualified actuary of the Swiss Association of Actuaries. |
