French powerhouse Scor has revealed a new three-pronged structure for its P&C division ahead of its annual investor relations day.
The new structure - which was unveiled a day after the firm was forced to fiercely defend its independence after revelations of an approach by French mutual Covea - will see the P&C business split into three business areas:reinsurance, specialty insurance and P&C partners.
Laurent Rousseau has been named CEO of the specialty insurance business unit in addition to his current role of deputy CEO of Scor Global P&C. He will remain a member of the Group’s executive committee.
Jean-Paul Conoscente and Umberto Gavazzi have been respectively appointed CEO and deputy CEO of the reinsurance business unit, which the carrier said is the core business of its Global P&C unit.
Sylvie Van Viet has been named CEO of the newly-created P&C Partners business unit.
Vincent Foucart and Adrian Jones have been appointed deputy CEOs of P&C Partners, respectively in charge of alternative solutions and technical development and P&C ventures as well as strategic partnerships.
In Scor’s life business, Brona Magee has been named deputy CEO of Scor Global Life and has become a member of the carrier’s executive committee.
She was previously head of client solutions at Scor Global Life and is a member of Scor’s Global Life’s executive leadership team.
She replaces Simon Pearson, who Scor said is retiring.
Separately, Xavier Savigny has been named group head of human resources and transformation, and Michael Nguyen has been appointed group head of operations strategy and project office.
Commenting on the appointments, Denis Kessler, chairman and chief executive officer of Scor said: “I would first like to sincerely thank Simon Pearson for his significant role in the successful development of Scor Global Life since he joined the Group in 2006, and for his strong contribution to the Executive Committee since 2014.”
“I am very pleased that Brona Magee is taking a leading role as Deputy CEO of Scor Global Life and joining the Group’s Executive Committee; she will be instrumental in continuing to advance the “Vision in Action” strategic plan,” Kessler added.
“The nominations announced today underscore the depth and breadth of Scor’s internal talent and demonstrate our firm commitment to providing staff with continuous opportunities for growth and development.”
The announcement came a day after the firm released a statement in which it fervently denied claims made by French media outlet BFM that it had entered sales talks with Partner Re.
The reinsurer also rejected claims it was in discussions with any other party.
“Scor formally denies the claim on the BFM business website that the Group has been in discussions with another partner for several months,” the carrier said in a 4 September statement.
“Contrary to this assertion, Scor has held no discussions with Partner Re or any other company,” it went on.
The formal denial comes as speculation over the independence of Scor was brought into question following an unsolicited EUR8.3bn takeover offer from French mutual Covea last month.