SCOR SE is a French tier 1

reinsurance Reinsurance is insurance that an insurance company purchases from another insurance company to insulate itself (at least in part) from the risk of a major claims event. With reinsurance, the company passes on ("cedes") some part of its own ins ...

company providing Property and Casualty (P&C) and Life reinsurance solutions to its clients. It is one of the leading reinsurers in the world. Created in 1970 with the backing of the French government, its original name was ''Société Commerciale de Réassurance'', hence "SCOR". The SE acronym indicates that the company is a ''

Societas Europaea A ''societas Europaea'' (, ; "European society" or "company"; plural: ; abbr. SE) is a public company registered in accordance with the corporate law of the European Union (EU), introduced in 2004 with the Council Regulation on the Statute fo ...

'' (European company). In 2007, it became the first French listed company to use the SE acronym in its name.

History

SCOR SE was founded in 1970 in Paris, France. SCOR today is the world's fourth largest reinsurer and has a presence in 160 countries worldwide with more than 3,000 employees. In 1996, SCOR acquired the reinsurance business of

Allstate The Allstate Corporation is an American insurance company, headquartered in Northfield Township, Illinois, near Northbrook since 1967. Founded in 1931 as part of Sears, Roebuck and Co., it was spun off in 1993 but still partially owned by ...

. In 2002, Denis Kessler was named the chairman and CEO after a near collapse of the company. Kessler was brought on board in order to restore the reinsurer's financial performance. Kessler made a number of acquisitions throughout his tenure. These include ReMark, Revios,

Converium Converium Holding AG was a company that primarily provided reinsurance products in Europe, Asia, the Middle East, and Latin America through its parent holding company and through various subsidiaries. It was founded in 1995. The company striv ...

, Transamerica Re, and Generali US. The firm's shares are listed on NYSE Euronext Paris and form part of the

CAC Next 20 The CAC Next 20 is an index of security prices used with the Euronext Paris or Euronext Amsterdam. It gathers the 20 companies whose market capitalizations are ranked after those of the 40 companies who compose the CAC 40. These 20 are possible ...

index. In 2007, SCOR de-listed itself from the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed ...

. In May 2019, SCOR purchased Coriolis Capital, an insurance-linked securities fund manager. The purchase was finalized in September 2019, increasing the company's ILS portfolio to over $2 billion.

SCOR Foundation for Science

In 2011, SCOR founded the SCOR Corporate Foundation for Science to support scientific research and risk-related knowledge.

Main operating lines

The main companies of SCOR SE (officially typeset as SCOR) include SCOR Global P&C, which provides

property Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves. Depending on the nature of the property, an owner of property may have the right to consume, alter, share, r ...

and casualty reinsurance, SCOR Global Life, which provides

life Life is a quality that distinguishes matter that has biological processes, such as Cell signaling, signaling and self-sustaining processes, from that which does not, and is defined by the capacity for Cell growth, growth, reaction to Stimu ...

reinsurance, and SCOR Global Investments, an

asset management Asset management is a systematic approach to the governance and realization of value from the things that a group or entity is responsible for, over their whole life cycles. It may apply both to tangible assets (physical objects such as buildings ...

company.

Business units

SCOR consists of several business units: * Reinsurance: include Property & Casualty and Life & Health units * Speciality Insurance: include SCOR Business Solutions and Channel Syndicate units * Asset Management: includes SCOR Global Investments unit, which had total investments of nearly €30 billion in 2019 with total invested assets of €20.6 billion

References

External links

* {{DEFAULTSORT:Scor Financial services companies established in 1970 Insurance companies of France Reinsurance companies 1970 establishments in France Companies based in Paris Companies listed on Euronext Paris