Scor

Neyme was previously vice president, US casualty treaty.

Scor said it had cut cat exposure by 21% in 2022 – ahead of a previously announced 15% target – as its P&C business booked a Q2 operating loss of EUR140mn ($143mn), compared with a EUR406mn profit last year.

The segment’s lustre has been dulled by losses and capital trapping.

The outgoing reinsurance CEO will be succeeded by Stuart McMurdo, current CEO of Scor UK, the Scor syndicate and regional CEO of EMEA.

Cat bond spreads settled 11% above sponsor targets as many deals were scaled back or parked.

The issuance covers US named storm and quake, and European windstorm.

The bond will cover US named storm and earthquake, and Europe windstorm.

CEO Laurent Rousseau said the firm would step up actions to reduce performance volatility.

The reinsurer booked a 104% combined ratio in Q1 on higher than expected cat losses and Ukraine claims, with P&C retro ceded premium up 37%.

The carrier said lines including political risk, credit and surety and aviation were facing claims.

It scaled back in Europe and Japan but entered the hardening retro market.

The carrier took a net EUR838mn of cat losses in the full year.