Scor

The reinsurer’s ILS team has reshuffled responsibilities as Vincent Prabis moves on from the fund manager.

Reinsurers anticipate a “correction” in property cat prices at Japanese and Florida renewals.

The reinsurer has confirmed a series of management changes ahead of global P&C CEO Victor Peignet retiring next month.

The insurer also announced the appointment of Jean-Paul Conoscente as global P&C boss as Victor Peignet retires.

The loss tally for catastrophe bonds impacted by the 2017 disaster events has now climbed to $1.1bn, according to January pricing sheets.

The carrier predicts P&C rates will increase in the double digits in both Japan and the US later this year.

The government also said it is exploring the possibility of issuing a cat bond in the near future.

Setting up vehicles under the UK’s new ILS legislation in its first year has required huge amounts of time, money and patience.

The Covea CEO’s resignation follows his company’s thwarted takeover of Scor.

Third-quarter catastrophe losses resulted in a 1.8 percent to 5.2 percent hit to the shareholder equity of global reinsurers, with major catastrophe writers all impacted.

The reinsurer reported EUR177mn of losses from named Q3 disaster events.

InsurTech is not a market that is as ripe for disruption as the catastrophe reinsurance business was, according to Scor’s Adrian Jones.