Thierry Léger, CEO- Designate,SCOR
Léger will be responsible for drawing up a new attractive and ambitious strategic plan for SCOR, and will outline the orientations and main themes of this plan at the 2023 general meeting. His mission will be to help SCOR further consolidate its position as a leading global reinsurer, said SCOR
Paris:
French reinsurer SCOR on Thursday has appointed Thierry Léger, chief underwriting Officer of Swiss Re, as its new chief executive officer(CEO) in place of Laurent Rousseau who has resigned from the post with immediate effect.
Léger will take up his post as CEO of SCOR with effect from May 1, 2023.
François de Varenne, executive committee member in charge of investments, technology, transformation and group corporate finance, has been appointed as interim CEO of SCOR with immediate effect until Léger takes up his post.
Léger will be responsible for drawing up a new attractive and ambitious strategic plan for SCOR, and will outline the orientations and main themes of this plan at the 2023 general meeting. His mission will be to help SCOR further consolidate its position as a leading global reinsurer, said SCOR..
Léger has 25 years of experience in the reinsurance sector, holding key positions. His expertise covers life reinsurance, P&C reinsurance and alternative reinsurance.
Thierry Léger commented, “I am very happy to be joining SCOR and am honored by the confidence the Board of Directors has placed in me by appointing me CEO. I look forward to meeting the group’s employees, clients and shareholders. I plan to actively pursue the growth of the company by continuing to develop its products and its structure.”
The reinsurance sector offers many opportunities, both on the liability side with the increased demand for cover and the improvement of terms and conditions, and on the asset side with the rise in interest rates, he said.
“ I am convinced that SCOR is well placed to take full advantage of this favorable environment. I know that I can count on highly skilled and experienced teams, and on excellent client relations. Let’s all make this journey together. I will focus all my energy on giving fresh impetus to SCOR,” added Léger.
The Board of Directors has asked its Chairman Denis Kessler to lend his support to François de Varenne and then Thierry Léger, to ensure the smooth running of this change in executive management.
Rousseau, who succeeded Denis Kessler as CEO on June 30, 2021, has resigned from his position as CEO and from his position on the Board. He is leaving the Group to pursue other professional opportunities.
The January 1, 2023 P&C renewals, which took place in a favorable environment for property & casualty reinsurance, will be presented on February 7, 2023. The Q4 and full-year 2022 results will be released as scheduled on March 2, 2023.
Denis Kessler, Chairman of SCOR, comments: “Léger is an experienced and skilled reinsurer who is an expert in both life and non-life reinsurance. Having held key positions at a major global reinsurance company, he has all the skills required to lead the SCOR group and forge a new strategic vision for the company, while pursuing an underwriting policy based entirely on technical profitability. By giving high priority to capital allocation and returns, and by practicing very strict risk management, Léger will restore the Group’s profitability and maintain its high level of solvency, to the benefit of all stakeholders: clients, shareholders and employees. SCOR is embarking on a new chapter in its history.”
Meanwhile, Swiss Re said Group’s chief underwriting officer Léger has stepped down as member of the Group Executive Committee and from the role as Group CUO with immediate effect to pursue a role outside the company.
Group Chief Executive Officer Christian Mumenthaler said: “Over the past 25 years with Swiss Re, Thierry made great contributions to many parts of our business, from Reinsurance to former Life Capital Business Unit, to Group Underwriting. Since his appointment as Group CUO in 2020, he has successfully evolved our underwriting capabilities through utilising cutting-edge research, access to more and better data and analytics.”
Swiss Re’s chief executive officer Christian Mumenthaler will take over Léger’s responsibilities ad interim.