Scor
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The bond provides coverage for North American storms and earthquakes, as well as European windstorms. -
Sources warned some property XoL books are already running 50% loss ratios.
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The reinsurer pegged the market loss at $40bn.
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The carrier pegged its LA wildfire losses at EUR140mn.
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EGPI growth at the carrier’s Alternative Solutions unit jumped 29.6%.
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The reinsurer has made improvements to its life and health segment, it said.
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The firm has added three new retro partners during 2024.
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The firm recorded a 13.3% nat cat impact to the P&C combined ratio.
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Nat cat pricing is expected to be more or less flat, with rises on loss-affected programmes.
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The denial followed this publication’s report that Covéa had renewed its intentions to buy the reinsurer.
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The mutual’s approach comes as Scor continues efforts to fight back from performance issues including a flare-up in L&H.
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Losses from mid-sized nat cats added 9.9 points to the P&C combined ratio.
