Thierry Leger leaves his CUO role at Swiss Re's Group for the top executive position within French reinsurer SCOR

30 January 2023 —
French reinsurer SCOR appointed Thierry Leger Chief Executive Officer, effective from May 1, 2023. Previously Swiss Re's Group Chief Underwriting Officer, has stepped down and already seized his executive role within the group.

Thierry Leger has 25 years of experience in the reinsurance sector, holding key positions. His expertise covers life reinsurance, P&C reinsurance and alternative reinsurance. SCOR's Board of Directors is convinced that Thierry Leger has all the professional skills and managerial qualities required to succeed as CEO of SCOR. The Board of Directors will propose that Thierry Leger join the Board at the 2023 General Meeting.

Francois de Varenne, Executive Committee member in charge of Investments, Technology, Transformation and Group Corporate Finance, is appointed Interim CEO of SCOR with immediate effect until Thierry Leger takes up his post. The Board of Directors has asked its Chairman Denis Kessler to lend his support to Francois de Varenne and then Thierry Leger, to ensure the smooth running of this change in executive management.

Laurent Rousseau, who succeeded Denis Kessler as CEO on June 30, 2021, has resigned from his position as CEO and from his position on the Board. He is leaving the Group to pursue other professional opportunities.

Thierry Leger will be responsible for drawing up a new attractive and ambitious strategic plan for SCOR, and will outline the orientations and main themes of this plan at the 2023 General Meeting. His mission will be to help SCOR further consolidate its position as a leading global reinsurer.

Denis Kessler, Chairman of SCOR, commented: "Acting on the proposal of the Nomination Committee, the Board of Directors has unanimously decided to entrust the executive management of the Group to Thierry Leger, an experienced and skilled reinsurer who is an expert in both life and non-life reinsurance. Having held key positions at a major global reinsurance company, he has all the skills required to lead the SCOR group and forge a new strategic vision for the company, while pursuing an underwriting policy based entirely on technical profitability. By giving high priority to capital allocation and returns, and by practicing very strict risk management, Thierry Leger will restore the Group's profitability and maintain its high level of solvency, to the benefit of all stakeholders: clients, shareholders and employees. SCOR is embarking on a new chapter in its history. On behalf of the Board of Directors, I would like to thank Laurent Rousseau for the contribution he has made to the Group during a particularly difficult period."

Meanwhile, at Swiss Re, Group Chief Executive Officer Christian Mumenthaler will take over Thierry Leger's responsibilities ad interim. "Over the past 25 years with Swiss Re, Thierry made great contributions to many parts of our business, from Reinsurance to former Life Capital Business Unit, to Group Underwriting. Since his appointment as Group CUO in 2020, he has successfully evolved our underwriting capabilities through utilizing cutting-edge research, access to more and better data and analytics. On behalf of the entire Group Executive Committee, I would like to thank Thierry for his dedication and commitment to Swiss Re and wish him all the success for the future", said Christian Mumenthaler.

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