Global reinsurance company SCOR has named Stuart McMurdo as its next CEO of Reinsurance for the Property & Casualty (P&C) division of the company, as Michel Blanc will retire in January 2023.
McMurdo has worked for SCOR since 2018, having first joined the reinsurance company CEO of SCOR UK and the SCOR Syndicate.
He later became the Regional CEO for SCOR’s P&C operations in the EMEA region in 2020.
In his time at the company, McMurdo has been responsible for improving SCOR Syndicate’s financial performance and aligning the SCOR P&C platform in EMEA.
Blanc and McMurdo will work very closely with immediate effect, which SCOR says will help to ensure a smooth transition and relationship continuity with its reinsurance business partners.
SCOR has launched a recruitment process to find a replacement for McMurdo, to take the role of CEO of the SCOR Syndicate and SCOR UK.
McMurdo will remain CEO of these two entities until the end of the recruitment process and regulatory approval has been received.
Meanwhile, the reinsurance firm said that Catherine Fassi will replace McMurdo as Regional CEO of EMEA and Canada for P&C, from July 1st, 2022.
The company said these changes confirm its “deep talent bench and follow recently announced leadership changes in the US.”
Jean-Paul Conoscente, CEO for P&C at SCOR, commented on the changes, “I’d like to express my warmest thanks to Michel for all that he has brought to SCOR since 1991, both worldwide and in the Asia-Pacific region. It has been a great pleasure working with Michel throughout those years and I wish him a very well- deserved, happy retirement.”
Before his time at SCOR, McMurdo was Head of Reinsurance for Santam Limited, South Africa’s largest short-term insurer. Prior to that, he worked as General Manager of one of South Africa’s leading retail brokerages, after having spent 11 years with the Hannover Reinsurance Group in various management roles, both in South Africa and Germany.
Fassi began her career as a statutory auditor at Mazars in Paris, before joining SCOR in 2013 as P&C Chief Accounting Officer and subsequently holding a range of roles within the P&C Finance team. In 2019 she was promoted to SCOR P&C Deputy CFO, and then in 2020 to SCOR P&C CFO.