SCOR promotes five across life and longevity reinsurance

SCOR Global Life, the life and longevity reinsurance focused unit of the globally active French reinsurer, has promoted five as it seeks to strengthen its leadership across the life and longevity reinsurance arm of its business.

Each of the five positions appears designed to strengthen key growth areas for SCOR, with focuses on emerging markets, longevity risk and reinsurance, distribution and actuarial services. All of the positions will have a direct reporting line to Paolo De Martin, CEO of SCOR Global Life.

De Martin commented; “The promotions we are announcing today are a sign of SCOR Global Life’s strong talent base and of our constant focus on supporting our customers. We believe that our success continues to be driven by our ability to service our customers locally, while providing best in class and global solutions.”

• Simon Pearson, recently promoted to Deputy CEO of SCOR Global Life and member of the Group Executive Committee, will also assume the CEO position of the newly created region of Europe, Middle East and Africa.
• Marc Archambault is promoted to CEO of Asia-Pacific. Based in Singapore, Marc will be in charge of further developing the Group’s franchise in the Asia-Pacific region.
• David O’Brien is promoted to Head of Global Financial & Longevity Solutions. Based in London, David will be in charge of expanding these important global product lines, in line with the ambitions set out in the “Optimal Dynamics” plan.
• Stephen Collins is promoted to Head of Global Distribution Solutions. SCOR Global Life has successfully deployed a number of innovative and tailored client services which aim to help insurers to expand and develop their own client bases (SCOR Telemed, ReMark, Velogica and Rehalto). Based in Amsterdam, Stephen will be in charge of implementing a unified strategy to continue the successful development of these services.
• Bruno Latourrette is promoted to Head of Actuarial & Risk, responsible for all core technical functions (Reserving and Valuation, Risk management, Pricing and Research & Development). Based in Paris, Bruno will ensure the global alignment of these key competencies.

Denis Kessler, Chairman & Chief Executive Officer of SCOR, added; “The new SCOR Global Life organization has been endorsed by the SCOR Group Comex and is fully aligned with the objectives presented in our strategic plan “Optimal Dynamics”. SCOR Global Life will continue to work closely with SCOR Global P&C and SCOR Global Investments to reach these objectives.”

It’s interesting that Kessler mentions the alignment with SCOR Global Investments (SGI). As SCOR Global Life assumes large amounts of life and longevity risk it takes on large asset portfolios as well. Having the internal investment capabilities of SGI could become very important to SCOR if it seeks to grow its life and longevity book considerably, which is a real possibility with P&C so challenged for price and competition.