SCOR ups third-party capital, finds new investors for more deals

Global reinsurer SCOR increased third-party capital by 20% with existing partners and brought on new investors for additional deals in January, the group has said. 

“On the retro side, management to increase our relationship with existing risk partners,” Jean-Paul Conoscente, SCOR’s CEO for P&C reinsurance, said during a presentation of his group’s January 1 renewal results. 

“We have also successfully raised additional third-party capital with new risk partners and plan to continue our expansion in this space throughout the year,” he said. 

SCOR’s 1.1 renewals presentation cited 20% year-on-year capacity growth with existing risk partners, “including expansion into non-cat lines of business.” No figure was put to the sums raised in January from new partners. 

Conoscente framed the comments vis-a-vis SCOR’s stated aim to double fee income from risk partnerships over course of the current corporate strategy. 

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