During today’s 1 January 2007 renewals conference call, Chairman and Chief Executive Officer, Mr. Denis Kessler, announced the SCOR Global P&C Premiums for the year 2006. The gross premiums written by SCOR Global P&C (Treaties, Business Solutions and Specialties) in 2006 were EUR 1 753 Million, an increase of 26.7% compared to 2005.
Denis Kessler, Chairman and Chief Executive Officer of the Group, announced today in Singapore that the Monetary Authority of Singapore (MAS) has authorised SCOR Asia-Pacific to apply to the Labuan Offshore Financial Services Authority (LOFSA) for an extension to the licence of SCOR Asia-Pacific’s non-life branch in Labuan (Malaysia), in order to underwrite Retakaful reinsurance contracts...
The SCOR group estimates the pre-tax technical cost of storm “Kyrill” at between EUR 25 and 30 million for all of the Group’s branches and the markets concerned.
The consolidation of SCOR Shares will take place tomorrow morning, 3 January 2007, at the opening of Euronext Paris.
SCOR has successfully sponsored a new catastrophe bond (“CAT Bond”). On December 21, 2006, SCOR entered into a multi-year property catastrophe retrocession agreement with Atlas Reinsurance III p.l.c. (“Atlas III”). Atlas III is a special purpose reinsurance company incorporated under the laws of Ireland in order to provide EUR 120 million of additional reinsurance coverage for SCOR and its...
The Annual General Meeting held on 16 May 2006 approved the consolidation of 10 SCOR shares into 1 new share and decided that the period in which old shares could be exchanged for new shares would begin two weeks after the announcement of the share consolidation in the Bulletin des Annonces légales obligatoires (French official bulletin of legal notices). Applying this decision, the Board of...
SCOR announces the successful completion of its EUR 377 million capital increase with preferential subscription rights
SCOR announces the successful completion of its EUR 377 million capital increase with preferential subscription rights.
The transaction between SCOR and GLOBALE Rückversicherung-AG regarding the acquisition of Revios Rückversicherung-AG was closed on November 21st 2006. The combination between Revios and SCOR Vie is now effective and Revios and SCOR Vie will shortly merge to create a new entity, SCOR Global Life.
SCOR is pleased with Fitch’s decision to upgrade the rating of the Group and its subsidiaries from “BBB+” to “A-, stable outlook”.
SCOR launches a capital increase with preservation of preferential subscription rights in the amount of EUR 376,743,524.50 primarily in order to finance the acquisition of Revios Rückversicherungs AG.