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SCOR sets up fourth catastrophe & mortality contingent capital facility

French reinsurance giant SCOR has established its fourth contingent capital facility, securing an EUR 300 million source of responsive capital coverage for natural catastrophe and extreme mortality events.SCOR has been a regular issuer of contingent capital since 2010, when the reinsurance firm first added a line of contingent equity capital read the full article →

Retro support helps SCOR to remain profitable so far in 2017

Despite the significant catastrophe losses facing the reinsurance industry, French reinsurer SCOR has reported a profit for the first none months of 2017, as support from its retrocession providers helped the firm to better manage its losses.SCOR's significant retro protection has helped to moderate the impact of recent catastrophes, including read the full article →

SCOR: Catastrophes unlikely to trigger contingent capital facility

Global reinsurance firm SCOR said that it expects the impacts of hurricanes Harvey, Irma and Maria will likely remain an earnings, rather than capital event, and that it does not expect its contingent capital facility will be triggered as a result of the losses it will suffer.SCOR has a catastrophe read the full article →

SCOR grows its catastrophe & mortality contingent capital facility

French reinsurance company SCOR has announced the issuance of a new three-year contingent capital facility that will provide the company with EUR 300 million of cover against losses from natural catastrophe and extreme mortality events.The contingent capital deal provides SCOR with a EUR 300 million contingent equity line that can read the full article →

SCOR creates Alternative Solutions unit, to include ILS business

French reinsurance company SCOR has created a new business unit, called Alternative Solutions, to centralise and house its activities in insurance-linked securities (ILS), structured risk transfer and alternative risk financing.The move to centralise and formalise the alternative reinsurance functions by the French reinsurer further demonstrates the importance of alternative risk read the full article →

Atlas Reinsurance X sidecar demonstrates SCOR’s access to capital

French reinsurer SCOR has now issued a press release on its recently launched Atlas Reinsurance X Ltd. fully collateralized reinsurance sidecar, which Artemis covered last week. The reinsurer says the successful launch of the sidecar further demonstrates its access to capital.Interestingly SCOR's press release names the sidecar Atlas X Reinsurance read the full article →

SCOR launches $55.5m Atlas Reinsurance X sidecar

French reinsurance firm SCOR has launched a new collateralized reinsurance sidecar vehicle in time for the January renewals. Atlas Reinsurance X Limited launched at the end of 2013 and its $55.5m shares were listed in Ireland.The Irish Stock Exchange listing information shows that two tranches of participating notes were listed read the full article →

SCOR grows, expands natural catastrophe contingent capital facility

French reinsurance firm SCOR has renewed its innovative contingent capital facility, which takes the form of a guaranteed equity line with UBS, and has expanded the cover it provides the reinsurer to €200m, covering both natural catastrophe and extreme life events.SCOR took out its first version of this contingent capital equity read the full article →

SCOR completes Atlas Reinsurance VII catastrophe bond

French reinsurer SCOR has completed its latest catastrophe bond, securing approximately $228m of multi-year retrocessional reinsurance cover for itself on a fully collateralised basis. Atlas Reinsurance VII Limited saw SCOR offload certain U.S. hurricane, U.S. earthquake and European windstorm risks to capital market investors on both aggregate and per-occurrence basis’ read the full article →

Atlas Re VII cat bond closes at upper size, lower end of pricing

Here's a quick update on the latest multi-peril catastrophe bond from SCOR, Atlas Reinsurance VII Limited, which we wrote about yesterday to reveal the doubling in size and lowering of price guidance. The transaction priced late yesterday and in the end SCOR took the maximum size of the deal while read the full article →