Board/Management Information • Feb 20, 2019
Board/Management Information
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Press Release February 20, 2019 - N° 8
SCOR announces the appointment of Jean-Paul Conoscente, currently CEO of Reinsurance at SCOR Global P&C, as Chief Executive Officer of SCOR Global P&C. Jean-Paul Conoscente will also join the Group's Executive Committee. This appointment is effective April 1, 2019.
This appointment follows Victor Peignet's decision to retire for personal reasons, after 35 years with the SCOR group.
Denis Kessler, Chairman & Chief Executive Officer of SCOR, comments: "On behalf of the Board of Directors and the Executive Committee, and on my own personal behalf, I would like to thank Victor Peignet wholeheartedly for his immense contribution to the SCOR group over the past 35 years. I salute his visionary leadership, his great intelligence, his exceptional work ethic and his strong passion for reinsurance, which have positioned SCOR Global P&C in the top tier of the industry. Victor's career path has been exemplary in every way. Victor has left a profound mark on the Group, he has shaped a culture that combines expertise and integrity, which the teams he has built will perpetuate. It has been a pleasure for me to work with him on the Group's recovery and subsequent development, with total confidence and in perfect complicity. I fully respect his decision to leave the Group for his own personal reasons. I know it has not been an easy decision to make, but it is an important one for his family and for himself. All of the Group's bodies, the Board of Directors, the Lead Independent Director, the Executive Committee and the Boards of all the subsidiaries unanimously express their warmest thanks to Victor.
I am very pleased that Jean-Paul Conoscente is taking the reins of the SCOR Global P&C division. Jean-Paul joined the Group in 2008 in New York, where he headed SCOR Global P&C's North American business, before taking charge of all reinsurance business across the division. A Franco-American, Jean Paul is a true P&C reinsurance professional. His intellect and his human qualities are widely recognized. With his Deputy CEO Laurent Rousseau1 , I know that Jean-Paul will continue Victor Peignet's work successfully, while bringing his own vision to the SCOR Global P&C division and the wider Group."
This publication is an ad hoc disclosure pursuant to Article 17 of Regulation (EU) No 596/2014 of 16 April 2014.
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SCOR SE 5, Avenue Kléber 75795 Paris Cedex 16, France Tél + 33 (0) 1 58 44 70 00 RCS Paris B 562 033 357 Siret 562 033 357 00046 Société Européenne au capital de 1,510,864,057.98 euros 1 See press release dated March 29, 2018.
February 20, 2019 - N° 8
Jean-Paul Conoscente, 54, an American and French citizen, is a graduate of the University of California Berkeley (Master of Science in Structural Engineering) and the Ecole des Travaux Publics, Paris (Engineering Diploma in Civil Engineering). He started his career in earthquake engineering in California and then in CAT Modeling as the European head of the Modeling firm EQECAT. He subsequently held several senior positions with AON Benfield as a reinsurance broker in London and Paris and then with AXA Re in Paris as the Global Head of Property. In 2008, he joined SCOR in New York as Chief Underwriting Officer for the Americas for SCOR Global P&C and helped transform SCOR's team and portfolio in the Americas, before taking on the role of CEO of SCOR's P&C U.S. Operations in 2016. Following SCOR Global P&C's restructuring in September 2018, he became its CEO of Reinsurance globally.
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Victor Peignet, 62, a French citizen, is a Marine & Offshore Engineer and a graduate of the Ecole Nationale Supérieure des Techniques Avancées (ENSTA). Having begun his career in the offshore Oil & Gas contracting industry, he joined SCOR's Facultative Department in 1984. Within the Group, he initially held underwriting and management positions in Energy & Marine insurance. He has been at the head of the Group's Corporate Business Division (Business Solutions) since its formation in 2000, first as Executive Vice President and as Managing Director from April 2004. He has been the Chief Executive Officer of SCOR Global P&C and a member of the Group's Executive Committee since 2005.
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Marie-Laurence Bouchon Group Head of Communications +33 (0)1 58 44 75 43 [email protected]
Ian Kelly Head of Investor Relations +44 (0)203 207 8561 [email protected]
LinkedIn: SCOR | Twitter: @SCOR\_SE
SCOR does not communicate "profit forecasts" in the sense of Article 2 of (EC) Regulation n°809/2004 of the European Commission. Thus, any forward-looking statements contained in this communication should not be held as corresponding to such profit forecasts. Information in this communication may include "forward-looking statements", including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions and include any statement which does not directly relate to a historical fact or current fact. Forward-looking statements are typically identified by words or phrases such as, without limitation, "anticipate", "assume", "believe", "continue", "estimate", "expect", "foresee", "intend", "may increase" and "may fluctuate" and similar expressions or by future or conditional verbs such as, without limitations, "will", "should", "would" and "could." Undue reliance should not be placed on such statements, because, by their nature, they are subject to known and unknown risks, uncertainties and other factors, which may cause actual results, on the one hand, to differ from any results expressed or implied by the present communication, on the other hand.
Please refer to the 2017 reference document filed on February 23, 2018, under number D.18-0072 with the French Autorité des marchés financiers (AMF) posted on SCOR's website www.scor.com (the "Document de Référence"), for a description of certain important factors, risks and uncertainties that may affect the business of the SCOR Group. As a result of the extreme and unprecedented volatility and disruption of the current global financial crisis, SCOR is exposed to significant financial, capital market and other risks, including movements in interest rates, credit spreads, equity prices, and currency movements, changes in rating agency policies or practices, and the lowering or loss of financial strength or other ratings.
The Group's financial information is prepared on the basis of IFRS and interpretations issued and approved by the European Union. This financial information does not constitute a set of financial statements for an interim period as defined by IAS 34 "Interim Financial Reporting".
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