Scor’s board of directors on Thursday requested the resignation of its CEO Laurent Rousseau and appointed Thierry Léger to replace him, to ensure the recovery of the company, which was facing heavy losses in the first months of 2022.
This unexpected decision comes when Laurent Rousseau was at the head of the reinsurer since the end of June 2021. He had succeeded Denis Kessler, current chairman of the board of directors.
Thierry Léger, current head of underwriting for the Swiss Re group, will not take up his duties until May 1, according to a press release. It is François de Varenne, responsible for investments, technologies, budget, transformation and finance of the group, who will assume the position on an interim basis.
509 million euros of losses in the first nine months
“Having held senior responsibilities within a major global reinsurance company, he has all the skills necessary to lead the Scor group,” Denis Kessler was quoted as saying in the press release.
“Thierry Léger will restore the Group’s profitability and maintain its high level of solvency for the benefit of all stakeholders: customers, shareholders, employees,” he added.
Tension has been building between Laurent Rousseau and Denis Kessler for several months, according to several insurance players.
Scor had announced a loss of 509 million euros in the first nine months of 2022, weighed down in particular by the cost of natural disasters.
Laurent Rousseau then announced a plan to return to green in the short term.
Source: BFM TV
