SCOR’s new CEO Thierry Léger vows vision in May, details in September

The new top officer of  SCOR, tapped in January to lead a rescue and repositioning of the ailing global reinsurer, will share broad vision for the group by end-May, then sit down with underwriters, actuaries and the bean counters to put his plan in numbers by September.

“What you can expect at the AGM is a clear idea of the vision, the strategy, the priorities – it’s an outline,” freshly appointed CEO Thierry Léger (pictured) told his company’s Q1 earnings call after less than two weeks in the role. “What you will get in September are the details, the numbers, the KPIJ and so on.”

Leger worked a very brief contribution to the first quarter earnings call to express early confidence in the group’s 2023 trajectory and the larger market opportunity.

“I am very satisfied with the Q1 results; we are executing on our 2023 priorities,” Leger said in opening comments.

“I think we are living the best market in two decades, providing several tailwinds to the reinsurance industry as a whole and I see SCOR very well placed,” the new CEO added. “We have an exceptional opportunity to take full advantage of our global franchise and global expertise.”

SCOR ousted its CEO of less than two years in January in a move that the supervisory board said at the time could heralded a major revision of strategy for the loss-strapped reinsurer. SCOR tapped Swiss Re chief underwriting officer Thierry Léger, has been asked to “forge a new strategic vision for the company, while pursuing an underwriting policy based entirely on technical profitability,” the supervisory board chief said at the time.

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