Scor
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The carrier predicts Covid’s reinsurance impact will drive market hardening. -
The CEO said the French reinsurer will avoid court cases where possible in pandemic coverage disputes.
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The $20bn fund has 2% of its assets allocated to ILS, equal to about $400mn.
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The additional raise takes the carrier’s committed capital to $3.2bn.
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The ex-Scor staffer will work to expand HSCM’s InsurTech business and serve as managing director.
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Fellow founder Will Thorne will take over the leadership responsibilities and manage its second fund.
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Kessler will continue as chairman after the handover, while the incoming chief will start out as deputy CEO.
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Significant start-up moves this month included Kathleen Faries and Julia Henderson joining Lavant and Piers Cantlay signing up to join McGill.
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The Atropos fund has delivered 6.29% yield and recorded gross inflows of over $140mn since the beginning of 2020.
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The current chief says the governance structure will evolve in a “new phase” for the reinsurer.
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Emmanuel Clarke, Frédéric de Courtois and Benoît Ribadeau-Dumas reportedly compete with insiders including Laurent Rousseau.
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The carrier adds just EUR8mn to its running Covid-19 claims tally, which now stands at EUR256mn.
