SCOR has named Gilles Nansenet (pictured right) as global account executive within its global client unit, based in Paris.
Nansenet joins the company with 35 years of experience in the property and casualty reinsurance sector. Most recently, he was market manager for Germany, Switzerland, and Italy at AXA XL Re.
His reinsurance career began in 1989 as a treaty underwriter at Sorema and Transatlantic Re, followed by a role as regional manager at Odyssey Re, where he was responsible for operations in German-speaking countries and Italy.
He also managed French insurance subsidiaries for DEVK and worked for two years as a senior broker at Benfield before joining XL Re in 2004.
"Gilles’ deep expertise and strategic insight into the reinsurance markets will be invaluable as we gear up for the next renewals," said Guillaume Ominetti, head of SCOR's global client unit. "We're thrilled to be building out the team with such a seasoned professional."
Nansenet’s arrival comes as SCOR implements a structural reorganization aimed at simplifying its operations and streamlining decision-making. Earlier in 2024, the company reorganized its property and casualty and life and health segments, reducing internal complexity to facilitate quicker client interactions and strengthen its market presence.
The company has also outlined new financial and strategic goals for the 2025–2026 period. SCOR is targeting an annual economic value growth rate of 9%, supported by a solvency ratio projected to remain within the 185% to 220% range.
Additionally, the reinsurer has reaffirmed its commitment to achieving a return on equity above 12%, signaling a focus on maintaining capital discipline while supporting growth initiatives.
SCOR’s first-quarter 2025 results reflect performance trends that are shaping the business environment in which Nansenet will operate. The company reported net income of €200 million, with property and casualty reinsurance contributing a combined ratio of 85.0%.
Natural catastrophe claims accounted for 12.5% of that figure, largely due to wildfire losses in Los Angeles. The company also recorded steady contributions from its life and health reinsurance and investment operations.
What are your thoughts on this story? Please feel free to share your comments below.
