SCOR SE
{{Short description|French reinsurance company}}
{{Use dmy dates|date=September 2020}}
{{Infobox company
| name = SCOR SE
| logo = SCOR SE Logo.png
| logo_size = 220px
| image = Paris Kleber5.jpg
| image_caption = Current head office of SCOR at 5, avenue Kléber in Paris, formerly headquarters of {{ill|Compagnie bancaire|fr}}{{cite web |website=Les Échos |url=https://www.lesechos.fr/1995/06/la-nouvelle-geographie-des-banques-a-paris-859047 |date={{date|1995-6-1}} |title=La nouvelle géographie des banques à Paris |author=Béatrice Saccardi}}
| type = Societas Europaea
| traded_as = {{Euronext|SCR|FR0010411983|XPAR}}
CAC Mid 60 Component
| foundation = {{start date and age|1970}}
| area_served = Worldwide
| key_people = Fabrice Brégier (Chairman) and Thierry Léger (CEO)
| industry = Financial services
| services = Reinsurance, asset management
| revenue = €19.7 billion (2022){{Cite web |title=Universal Registration Document 2022 |url=https://www.scor.com/en/financial-information |access-date=26 May 2023 |publisher=Scor}}
| operating_income = €1 million (2022)
| net_income = €-301 million (2022)
| assets = €55.3 billion (2022)
| equity = €5.1 billion (2022)
| num_employees = 3,522 (2022)
| homepage = [http://www.scor.com www.scor.com]
}}
SCOR SE is a French{{cite web|url= https://www.encyclopedia.com/books/politics-and-business-magazines/scor-sa | title= SCOR S.A. | access-date=10 February 2022|date=10 May 2021}} tier 1 reinsurance 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 (European company). In 2007, it became the first French listed company to use the SE acronym in its name.
History
File:SCOR La Defence.JPG that was SCOR's head office from 1983 to 2012{{cite web |website=Atlas Magazine |url=https://www.atlas-mag.net/article/nouveau-siege-social-de-la-scor |date={{date|2012-11-2}} |title=Nouveau siège social de la Scor}}]]
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{{Cite news |title=A global reinsurer increases user engagement to bolster risk mitigation |work=IBM |url=https://www.ibm.com/downloads/cas/98GAOMBG |access-date=24 April 2020}} with more than 3,000 employees.{{Cite news |title=Top 50 Global Reinsurance Groups |work=Reinsurance News |url=https://www.reinsurancene.ws/top-50-reinsurance-groups/ |access-date=24 April 2020}}
In 1996, SCOR acquired the reinsurance business of Allstate.{{Cite news |title=French Insurer SCOR Acquires Allstate's Reinsurance Business |work=WSJ |url=https://www.wsj.com/articles/SB83812925862476500 |access-date=29 April 2020}}
In 2002, Denis Kessler was named the chairman and CEO after a near collapse of the company.{{Cite news |title=Scor CEO sets three-year growth targets to reassure shareholders |work=Reuters |url=https://www.reuters.com/article/us-scor-strategy/scor-ceo-sets-three-year-growth-targets-to-reassure-shareholders-idUSKCN1VP1MD |access-date=24 April 2020}} Kessler was brought on board in order to restore the reinsurer's financial performance.{{Cite news |title=Saving SCOR |newspaper=The Economist |url=https://www.economist.com/finance-and-economics/2003/01/02/saving-scor |access-date=24 April 2020}} Kessler made a number of acquisitions throughout his tenure. These include ReMark,{{Cite news |title=Reinsurer Scor says it holds 98.7 pct of ReMark |work=Reuters |url=https://www.reuters.com/article/scor-remark/reinsurer-scor-says-it-holds-98-7-pct-of-remark-idUSL2239723620070822 |access-date=24 April 2020}} Revios,{{Cite news |title=Scor Reaches $775 Million Deal To Buy German Reinsurer Revios |work=WSJ |url=https://www.wsj.com/articles/SB115213669018198789 |access-date=24 April 2020}} Converium,{{Cite news |title=SCOR and Converium Reach Friendly Merger Agreement |work=Insurance Journal |url=https://www.insurancejournal.com/news/international/2007/05/10/79589.htm |access-date=24 April 2020}} Transamerica Re,{{Cite news |title=SCOR to Buy Aegon's Transamerica Reinsurance Unit for $913 Million |work=Insurance Journal |url=https://www.insurancejournal.com/news/international/2011/04/26/196235.htm |access-date=24 April 2020}} and Generali US.{{Cite news |title=Generali sells U.S. unit to Scor in $920 million deal |work=Reuters |url=https://www.reuters.com/article/us-generali-scor/generali-sells-u-s-unit-to-scor-in-920-million-deal-idUSBRE95304420130604 |access-date=24 April 2020}}
The firm's shares are listed on NYSE Euronext Paris and form part of the CAC Next 20 index. In 2007, SCOR de-listed itself from the New York Stock Exchange.
In May 2019, SCOR purchased Coriolis Capital,{{Cite news |title=SCOR agrees to buy Coriolis Capital |work=Pensions and Investments |url=https://www.pionline.com/article/20190523/ONLINE/190529939/scor-agrees-to-buy-coriolis-capital |access-date=24 April 2020}} an insurance-linked securities fund manager. The purchase was finalized in September 2019, increasing the company's ILS portfolio to over $2 billion.{{Cite news |title=SCOR finalises Coriolis Capital move |work=Insurance Business Magazine |url=https://www.insurancebusinessmag.com/asia/news/breaking-news/scor-finalises-coriolis-capital-move-177585.aspx |access-date=24 April 2020}}
=SCOR Foundation for Science=
Main operating lines
The main companies of SCOR SE (officially typeset as SCOR) include SCOR Global P&C, which provides property and casualty reinsurance, SCOR Global Life, which provides life reinsurance, and SCOR Global Investments, an asset management company.{{Cite web |title=A triple-engine Group |url=http://www.scor.com/en/the-group/our-company/a-triple-engine-group.html |access-date=1 June 2011 |publisher=Scor.com}}{{Cite book |last=Jack W. Plunkett |url=https://books.google.com/books?id=-Gc8XedaazQC&q=%22Scor+global+P%26C+%22&pg=PT403 |title=Plunkett's insurance industry almanac |date=November 2007 |publisher=Plunkett Research, Ltd |isbn=9781593920975 |access-date=1 June 2011}}{{Cite book |last=Dirk Van Gerven, Paul M. Storm |url=https://books.google.com/books?id=RKtVP9tJwKYC&q=%22Scor+global+P%26C+%22&pg=PA8 |title=The European Company |date=2008 |publisher=Cambridge University Press |isbn=9781107320949 |access-date=1 June 2011}}{{Cite web |title=Scor SE (SCR.S) Company Profile |url=https://www.reuters.com/finance/stocks/companyProfile?symbol=SCR.S |access-date=1 June 2011 |publisher=Reuters}}
= Business units =
SCOR consists of several business units:{{Cite web |title=Our Solutions |url=https://www.scor.com/en/our-solutions-0 |website=Scor}}
- Reinsurance: include Property & Casualty and Life & Health units
- Speciality Insurance: include SCOR Business Solutions and SCOR 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{{Cite web |title=Actrivity & CSR Report 2018 |url=https://www.scor.com/activityandcsrreport/2018/ |access-date=24 April 2020}}
References
{{Reflist}}
External links
- {{official website}}
{{CAC Mid 60}}
{{Major insurance companies}}
{{ICISA members}}
{{DEFAULTSORT:Scor}}
Category:Financial services companies established in 1970
Category:Insurance companies of France
Category:Reinsurance companies
Category:French companies established in 1970
Category:Companies based in Paris