SCOR launches dedicated alternative solutions unit
French reinsurer SCOR has established a new unit which will centralise and widen its activities in alternative and hybrid reinsurance solutions and which will also incorporate its insurance-linked securities (ILS) activities.
The new unit will be part of the specialities section of SCOR’s global property/casualty (P&C) division. It will look to allow SCOR’s insurance and corporate clients easy access to such alternative solutions, illustrating the growing importance of such products to the overall offering of the world’s biggest reinsurers.
Vincent Foucart, who had been group corporate secretary of SCOR since 2010, has been appointed director of the new unit. He has been developing SCOR’s global P&C insurance linked securities (ILS) offering since 2011.
The unit will combine the division's expertise in terms of structured risk transfer (SRT), alternative risk financing (ARF) and (ILS), under the supervision of its SRT/ART committee comprising Victor Peignet, Benjamin Gentsch and Yvan Besnard.
Romain Launay, currently senior advisor to the chairman & chief executive officer (CEO) of SCOR, is appointed group general secretary.
Reporting to the chairman & CEO, he will be in charge of a broader general secretariat that includes the group's legal department and combines, in addition to legal affairs, the secretariat of the Board, regulatory affairs, compliance and public affairs.
Vincent Malige, currently group deputy general counsel, takes on the responsibilities of Group general counsel following the departure of Eric Sandrin, within the framework of the general secretariat run by Romain Launay.
