SCOR combines Cologne and Zurich hubs
French reinsurer SCOR has combined its hubs in Cologne and Zurich, in a move it says will further strengthen its organisational structure in Europe.
The new hub will maintain the existing two locations of Cologne and Zurich, under a single management team led by Bernd Langer, currently chief risk officer of SCOR Global P&C, with Mark von Harpke, currently chief executive officer (CEO) of the Cologne hub, acting as deputy CEO.
Christian Felderer, currently Zurich hub CEO and SGP&C General Counsel, who has led the project, will retire at the end of September.
SCOR said the move creates a simpler, de-layered management structure and improves the efficiency of the operating structure, providing further support to its client offering.
The reinsurer expects the combined hub will be one of its top three hubs in terms of business generation and resources.
The new hub will be effective as of October 1, 2014 and is expected to be fully completed in the first quarter of 2015.
Denis Kessler, chairman & CEO of SCOR, said: "The creation of this new combined hub is a significant step in the continued execution of SCOR's strategic plan "Optimal Dynamics", particularly in terms of further strengthening the Group's operational excellence. The larger, more efficient structure will reinforce the Group's franchise in Europe, along with its position as a top-tier global reinsurer."
