SCOR reorganises London Market specialty business

SCOR Global P&C is consolidating its specialty insurance platform in the London Market as a single business platform.

The platform will offer either company (SCOR) or Lloyd’s paper to its customers or a combination of both.

Furthermore, Stuart McMurdo, who was appointed CEO of SCOR UK on April 1, 2018, will be appointed CEO of The Channel Managing Agency, the managing agency of the Channel Syndicate, with effect from Sept. 1. McMurdo will succeed David Reed, who retires on August 31. Reed will continue as a non-executive director of The Channel Managing Agency.

At the same time, Tom Corfield, existing active underwriter of the Channel Syndicate, has been appointed to the additional role of chief underwriting officer of SCOR UK.

Both McMurdo and Corfield have joined the board of directors of SCOR UK and their appointments have been approved by the regulators.

“The appointments of Stuart McMurdo and Tom Corfield in their dual roles at SCOR UK, The Channel Managing Agency and the Channel Syndicate represent a key step towards the consolidation and strengthening of SCOR Global P&C’s specialty commercial lines insurance platform in the London Market,” said Laurent Rousseau, deputy CEO of SCOR Global P&C.

“A unified senior management team with oversight across a single, strong insurance platform in the London Market will significantly enhance our presence in the market and our ability to satisfy our clients’ needs through tailored solutions, while improving our ability to provide a global offering by federating the means and expertise of our teams throughout the world,” Rousseau added.

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