Commenting on January renewals, French reinsurer SCOR said it reached its objective of successfully consolidating two strong independent reinsurance groups–SCOR and Converium–into one franchise.
The results show that the "integration of Converium and SCOR is well underway," Denis Kessler, chairman and chief executive officer of SCOR, said in a conference call Wednesday. "Exactly one year afterward we bring the proof of what we said" in February 2007.
Mr. Kessler said: "In today's challenging market environment, it is an outstanding achievement that SCOR has managed to integrate Converium and combine the portfolios for the January renewals with such limited attrition, while having fully followed its underwriting policy in terms of selectivity and profitability."
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