French reinsurance company SCOR has optimised its leadership across its property and casualty arm SCOR Global P&C, with one of the changes being a promotion to Chief Retrocession Officer for Benoît Liot.
Liot leads all insurance-linked securities (ILS), catastrophe bond and sidecar issuances for SCOR Global P&C, a key role for the reinsurer as it optimises its capital and capacity using multiple sources, including the capital markets.
Liot has worked in catastrophe risk portfolio management, retrocession and insurance-linked securities (ILS) throughout his career, taking a key role in SCOR’s retro arrangements, particularly with the Atlas Capital series of cat bonds.
He has worked at SCOR since 2016, most recently as Senior Account Manager, Retrocession. His new role as Chief Retrocession Officer will put Liot in central control of SCOR’s use of retro sources, across forms of capital.
SCOR has reorganised its P&C leadership around a regional structure, as it looks to become “more agile to faster adapt to the evolutions of markets with different levels of socioeconomic maturity, varied reinsurance market dynamics and increasing local regulatory pressures.”
The aim is to strengthen the regional focus locally and then optimise global functions to respond to regional needs.
The changes include the creation of the role of P&C Regional Heads, for EMEA and the Americas respectively.
Taking these positions are Stuart McMurdo who is promoted to Regional Head – EMEA (encompassing Europe and MEA), on top of his current role of Regional CEO for EMEA for Specialty Insurance, as well as John Jenkins who is promoted to Regional Head – Americas (encompassing North and South America), on top of his current role of CEO of Reinsurance for the Americas.
SCOR has also reorganised its reinsurance business under leaders CEO Michel Blanc and Deputy CEO Umberto Gavazzi.
These changes include:
- Europe: Anne-Marie Cical promoted to Regional CUO, with Charles Bartlett as Deputy Regional CUO
- North America: Nick Nudo is promoted Regional CUO.
- APAC Mature market: David Johnstone is promoted Regional CUO.
- Fast Growth markets: Eric Jenck is promoted Regional CUO with Pierre Favennec as Deputy Regional CUO. This new region encompasses Middle East and Africa led by Hedi Hachicha; Latin America and the Caribbean led by James Grieve; and APAC Emerging markets led by Mukul Kishore.
- Frank Coglianese is promoted to Global Chief Client Officer, a role designed to reinforce the internal infrastructure around client management
Further supporting changes in global functions include: Doug Lacoss being promoted to Global Head of Pricing & Modelling Designate; and Guilhem Horvath succeeding Pierre Favennec as Head of Strategy, Business development and Marketing.
The changes have been effective since October 1st and SCOR hopes they will help it to deliver the solutions and services that matter to clients, while building more focused synergies among its local teams.