SCOR’s corporate governance is strong, diverse and independent.
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 16 directors including two employee-elected directors:
Denis Kessler (Chairman), a French citizen, is a graduate of HEC business school (École des hautes études commerciales), holds a PhD in economics and advanced degrees in economics and social sciences, and is a Fellow of the French Institute of Actuaries. He was Chairman of the French Insurance Federation (FFA), Senior Executive Vice‐President and member of the Executive Committee of the AXA group and Executive Vice‐President of MEDEF (Mouvement des entreprises de France). He joined SCOR as Chairman and Chief Executive Officer on November 4, 2002. In January 2016, he was elected to join the Academy of Moral and Political Sciences of the Institut de France. Since June 30, 2021, he is the Chairman of the Board of Directors of SCOR SE.
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.
Marc M. 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 in Turkey in 1992, then the first private television; a group he sold in 2002. He joined SCOR in 2002. Within the P&C treaty department, he first operated as an underwriter for markets such as North Africa, South Africa, Middle East and the Gulf countries. He is currently Market Manager of Southern Mediterranean, North Africa and French-speaking Africa. He initiated the SCOR classical musical project, with the organization of concerts and the detection of young talents.
Adrien Couret, a French citizen, holds a degree from HEC Business School and is a Fellow of the French Institute of Actuaries. From 2008, he has held various executive roles in the mutual insurance company Macif as a Director overseeing successively Strategy, Performance, Transformation and Innovation within the company. 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 key director since 2014, he took on the role of Chairman of the Board of Directors of Ofi Asset Management, an asset management subsidiary of Macif Group. Since January 2021, Adrien Couret is the Chief Executive Officer of Aema Group, a new French mutual insurance for health protection, born from the merging of two companies: Aesio Mutuelle and Macif.
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. Then, she joined the SNCF in 1992 where she successively held the positions of Project Manager for the Socrate reservation system, Distribution Director and then Travellers Sales Director, 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 held since 2013 the position of Chairman and Chief Executive Officer of Société
Centrale Prévoir and its subsidiary Prévoir-Vie.
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 and 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 several publications on banking and financial law. She has been a partner in the banking & finance department of the law firm Loyens & Loeff since March 2020, having been a partner at the business law firm Simont Braun from 2005 until February 2020 and having practiced law at the Brussels offices of Stibbe Simont Monahan Duhot and Freshfields Bruckhaus Deringer. Vanessa Marquette has been an independent director of Erasme Hospital from 2017 until 2021.
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 the Swiss Life AG group, 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.
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 JeanLouis 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 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.
Laurent Rousseau, a French citizen, is a is a graduate of HEC (École des hautes études commerciales). He started his career in 2001 as an equity analyst at Credit Suisse First Boston in London, covering European insurers and reinsurers. In 2005, he joined JP Morgan in the insurance Investment Banking team, executing M&A, capital raising and restructuring transactions for European insurers and reinsurers. He joined SCOR in 2010 as Advisor to the Chairman and Chief Executive Officer and became Head of SCOR Global P&C’s Strategy, Business Development and Marketing in 2012. In July 2015, he became Chief Underwriting Officer of SCOR Global P&C’s treaty business in Europe, Middle East & Africa. In April 2018, he was appointed Deputy Chief Executive Officer of SCOR Global P&C, a member of the Group’s Executive Committee and, since September 2018, Chief Executive Officer for Specialty Insurance (SCOR Business Solutions, the Channel Managing Agency and MGAs in the Americas). Since June 30, 2021, he is the Chief Executive Officer of SCOR SE.
Pietro Santoro, a German and Italian citizen, began his career at Wacker Chemie AG, starting within the financial accounting and controlling department after absolved his apprentice ship as industrial clerk. He joined SCOR in 2002 as purchaser (Manager General Services) in the general services department. Since 2013, he has been a member of the Common Committee of European Societies (CCSE) and since 2014, a member of the German Works council and the elected Chairman since 2019.
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. In 2005, he was promoted to Chief Executive Officer responsible for the retail market, IT and customer service, before taking charge of the corporate, professional and retail markets in 2011. Appointed Chief Executive Officer of Malakoff Médéric Group in an environment characterized, for all stakeholders in the social protection sector, by unprecedented challenges in the management of supplementary pensions and in the development of life and health insurance business, he took up his position within the group on June 1, 2016. Following the merger of the Humanis and Malakoff Médéric groups, on January 1, 2019 Thomas Saunier became Chief Executive Officer of the Malakoff Médéric Humanis group, now known as Malakoff Humanis group.
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, 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 appointed Chairman and Chief Executive Officer of the Generali group in France in April 2002 until October 2013, when he became the Chairman of the Board of Directors, holding this position until June 2016.
Natacha Valla, a French citizen, is an economist, currently Dean of the School of Management and Innovation at Sciences Po Paris. She began her career at the European Central Bank (2001-2005) and then worked at the Banque de France (2005-2008) before joining Goldman Sachs as Executive Director (2008-2013). She was then Deputy Director of CEPII (2014-2016), a think tank in international economics before joining the European Investment Bank (2016-2018) in charge of Economic policy and Economic strategy. From 2018 to May 2020, she was Deputy CEO for Monetary Policy at the European Central Bank. She has been a member of the Economic Commission of the Nation, of the Scientific Committee of the ACPR and of the Council of Economic Analysis (Conseil d’analyse économique, CAE). She received her PhD from the European University Institute in Florence and is the author of numerous books and articles in monetary and international economics.
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 PICC, the insurance monopoly then, and became the General Manager of International Department in 1996 upon PICC becoming PICC group. From 1997 to 2016, she worked for Munich Re, was the Chief Representative of MR Beijing, the Chief Executive of MR Beijing Branch, the Board member of MR Greater China Advisory Board respectively. 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.
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). Fields Wicker-Miurin began her career in banking, before joining Strategic Planning Associates (now Oliver Wyman Consulting) as a senior partner where she was the main advisor to Lloyd’s of London. In 1994, she became Chief Financial Officer and Head of Strategy of the London Stock Exchange, where she led both the strategic and structural aspects of its complete restructuring. She was a member of the Nasdaq Technology Advisory Council and advised the European Parliament on financial markets harmonization. In 2002, she was one of the founders of Leaders' Quest, a social enterprise that works with leaders from all sectors and across the globe who want to make a responsible, positive difference through their leadership. In 2007 she received an OBE (Officer of the British Empire) and in 2011 she was appointed Fellow of King’s College London. She is also a director of BNP Paribas and is Vice-Chair of the Royal College of Art in London.
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, Patricia Lacoste, Vanessa Marquette, 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), 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), Fabrice Brégier, Marc M. Büker (director representing employees), Patricia Lacoste, 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 Fabrice Brégier (Chairman), Adrien Couret, Denis Kessler, Vanessa Marquette, Thomas Saunier (as representative of Holding Malakoff Humanis), Claude Tendil and Fields Wicker-Miurin. Except for Denis Kessler and Claude Tendil, the Committee members are independent.
The Sustainability Committee is composed of Augustin de Romanet (Chairman), 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 Denis Kessler (Chairman), Fabrice Brégier, Adrien Couret, Vanessa Marquette, Bruno Pfister, Augustin de Romanet, Claude Tendil and Fields Wicker-Miurin.
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.
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.
Laurent Rousseau – Chief Executive Officer of SCOR
Laurent Rousseau, a French citizen, is a graduate of HEC (Ecole des Hautes Etudes Commerciales). He started his career in 2001 as an equity analyst at Credit Suisse First Boston in London, covering European insurers and reinsurers. In 2005, he joined J.P. Morgan in the insurance Investment Banking team, executing M&A, capital raising and restructuring transactions for European insurers and reinsurers. He joined SCOR in 2010 as Advisor to the CEO and became Head of SCOR Global P&C’s Strategy and Business Development in 2012. In July 2015, he became Chief Underwriting Officer of SCOR Global P&C’s treaty business in Europe, the Middle East and Africa. In April 2018, he was appointed Deputy Chief Executive Officer of SCOR Global P&C and member of the Group’s Executive Committee. In September 2018, Laurent Rousseau became CEO of Specialty Insurance (SCOR Business Solutions, the Channel Managing Agency and MGAs). In June 2021, he became Chief Executive Officer of SCOR.
Jean-Paul Conoscente – Chief 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.
Ian Kelly - Chief Financial Officer of SCOR
Ian Kelly, a British citizen, is a Fellow of the Association of Chartered Certified Accountants. Having begun his career with Prudential, he subsequently joined the London-based Life reinsurance department of the Gerling Group, which later became Revios UK, holding the role of Chief Accountant. Following the acquisition of Revios by SCOR, he was appointed Chief Financial Officer of the UK operations in 2007. In 2009, Ian was appointed Director of General Accounting and Group Reporting, with responsibility for the consolidation of financial reporting of the SCOR Group. Ian strengthened his strategic, regulatory and financial experience within SCOR with his appointment as Head of Group Financial Planning and Analysis in 2011. Maintaining responsibility for the financial planning of the Group, Ian was additionally appointed Head of Investor Relations in 2016.
Frieder Knüpling – Chief 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).
Romain Launay – Deputy 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.
Brona Magee - Deputy Chief Executive Officer of SCOR Life & Health
Brona Magee, an Irish citizen, holds a Bachelor of Actuarial and Financial Studies from University College Dublin. From 2006 to 2011 she worked for Transamerica International Reinsurance Ireland, which was acquired by SCOR in 2011. She was CFO for SCOR Global Life Reinsurance Ireland from 2011 to 2013. In 2013, she moved to the United States to take the position of Chief Financial Officer, Americas at SCOR Global Life and in 2015 was promoted to Deputy Chief Executive Officer, Americas. In February 2017, she returned to Dublin and became Chief Actuary for SCOR Global Life. She was appointed Head of Client Solutions and a member of SCOR Global Life’s Executive Leadership Team in November 2017. In September 2018 she was appointed Deputy CEO and Head of Global Markets for SCOR Global Life and became a member of the Group’s Executive Committee. Brona Magee is a Fellow of the Society of Actuaries in Ireland.
Fabian Uffer - Group 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.
François de Varenne - Investments, Technology, Transformation and Group Corporate Finance
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 the Group in 2005 as Director of Corporate Finance and Asset Management. In September 2007, he was named Group Chief Operating Officer. In October 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, Group Project Office and Group Corporate Finance. In this new role, he is in charge of the Group’s transformation.