SOURCE: SCOR

July 06, 2005 04:24 ET

Victor Peignet Is Appointed Head of All SCOR's Property & Casualty Reinsurance Business

PARIS -- (MARKET WIRE) -- July 6, 2005 -- Denis Kessler, Chairman and Chief Executive Officer of SCOR, appointed Victor Peignet as head of all SCOR's Property & Casualty business with the approval of the Group Nomination Committee. In this regard Victor Peignet will be responsible for launching the Group's Non-Life Reinsurance subsidiary, as part of the "New SCOR" global project announced on 10 June, 2005.

This subsidiary aims to simplify the organisation of the Group, to improve its operational performance, to optimise its worldwide business network, to enhance the business synergy that exists between the Group's various Non-Life entities and to contribute to the reduction of costs. This subsidiary will be 100% owned by SCOR S.A., like the Life reinsurance subsidiary created in 2003.

This subsidiary will combine all of SCOR's Non-Life reinsurance business around the world, notably Property & Casualty treaties, Large Corporate Risks and Credit & Surety Reinsurance.

Victor Peignet, 48, marine and offshore engineer, graduated from ENSTA (Ecole Nationale Supérieure des Techniques Avancées) and joined SCOR's Facultative Department in 1984 from the offshore contracting industry. From 1984 to 2001 he worked in SCOR's Energy & Marine Division, first as an underwriter and then as branch Director. He was appointed Executive Vice-President of the Group's Large Corporate Risks Division (Business Solutions) at its formation in 2000, and became its Managing Director in April 2004.

2005 Timetable

First half year results 2005   1 September 2005
Third quarter results 2005     3 November 2005
Certain statements contained in this press release relating to SCOR's plans, strategies and beliefs are forward-looking in nature and are based on management's assumptions and beliefs in light of the information currently available. The forward-looking statements involve risks and uncertainties that could cause actual results, performance or events to differ materially from those in such statements. Additional information regarding risks and uncertainties is set forth in the current annual report of the company.

Contact Information

  • For further information, please contact:
    SCOR
    Godefroy de Colombe
    Director for Public Affairs
    + 33 (0)1 46 98 73 50

    SCOR
    Stéphane Le May
    Investor Relations Officer
    + 33 (0)1 46 98 70 61