SCOR right on track: Kessler

Denis Kessler, chairman and chief executive of SCOR, has said that the French reinsurer is on track with the execution of its strategic plan.

In September 2013, SCOR launched its fifth three-year strategic plan, Optimal Dynamics, which will run until mid-2016.

During its annual investors' day being held today, September 11, in London, SCOR's executive management team, led by Kessler, will present an overview of the successful achievement of the strategic plan in its first year and set forth why the company's business model is fit for today's environment.

Kessler said: "After one year of executing the "Optimal Dynamics" strategic plan, I am pleased to announce that SCOR is on track. Demonstrating its capacity to adapt to a challenging economic, regulatory and financial environment, SCOR has further strengthened its position as a global reinsurance leader."

SCOR said it has outperformed its targets with an ROE in excess of 1000 basis points above the three-month risk-free rate in the first half of 2014, an estimated 2014 solvency ratio of 231 percent and a robust 2013 dividend representing a payout ratio of 44 percent.

Earlier this year, the reinsurer acquired and Generali’s US life unit and has completed several new longevity and financial solutions transactions on the life side. It has also launched a new business unit dedicated to alternative solutions on the P&C side.