Scor
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The carrier said lines including political risk, credit and surety and aviation were facing claims. -
It scaled back in Europe and Japan but entered the hardening retro market.
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The carrier took a net EUR838mn of cat losses in the full year.
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The deal follows the pension trustees’ £10bn transaction in 2020.
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Scor’s renewals update denotes a continued push to control volatility while Hannover Re is focused on growth.
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The carrier cut exposure to both earnings level and highly volatile cat events as it shed risk.
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The flagship Atropos fund reached $1.4bn while its cat bond strategy is sized at $831mn.
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Alecta said it was "convinced" ILS could produce high-quality, uncorrelated returns.
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The carrier has also exited US MGAs exposed to North Atlantic cat risk.
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The carrier launched a share buyback and announced portfolio rebalancing actions.
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The Scor chairman takes over from Swiss Re CEO Christian Mumenthaler, who steps down after two and a half years in the role.
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Scor Global P&C CEO Jean Paul Conoscente said on a briefing that rate hikes were barely keeping up with inflation.
