SCOR names new CEO for corporate risks unit

SCOR names new CEO for corporate risks unit | Insurance Business Australia

Reinsurance

SCOR names new CEO for corporate risks unit

Key hire is a familiar face in the sector

Reinsurance

By
Kenneth Araullo

Global reinsurer SCOR has named Claire McDonald as its new CEO for SCOR Business Solutions (SBS), previously known as SCOR Specialty Insurance, the group’s large corporate risks insurance unit.

As part of this new role, McDonald will also join the executive committee of the company. She steps into this role to bolster SBS’s stance as a technical specialty commercial insurer, aiming to shape a balanced and resilient portfolio consistent with SCOR’s strategic plan, Forward 2026.

McDonald’s extensive career spans several integral roles within the insurance industry. Most recently, she served as vice president at the Insurance Institute of London and chair at the International Underwriting Association of London.

McDonald’s background also includes significant stints at HDI Global SE, where she was an executive board member and CUO for property, engineering, marine, and risk engineering. Additionally, she has held leadership positions at Allianz Global Corporate & Specialty in various capacities, ranging from global head of operations to head of energy at the chief underwriting office.

Jean-Paul Conoscente, CEO of SCOR P&C, under whom McDonald will report directly starting September 1, 2024, welcomed her addition to the global reinsurer.

“With more than 20 years of underwriting and senior leadership experience, Claire is an excellent addition to the P&C team. Her deep expertise, acquired in all areas of specialty insurance throughout her career, will bring us even closer to our clients,” Conoscente said. “I look forward to working alongside her, as we continue to leverage on favorable market conditions.”

Thierry Léger, chief executive officer of SCOR, also welcomed McDonald to her new pivotal position.

“In addition to her extensive track record, her recognized leadership qualities together with her innovative and forward-thinking mindset will be a valuable asset for SCOR,” Léger said.

Predecessor to look for new opportunities

McDonald steps into the role replacing Romain Launay, previously chief executive for SCOR Specialty Insurance, who has left to pursue new opportunities.

“I would like to thank Romain Launay who has helped double the size of our specialty insurance business during his time at SCOR P&C, and I wish him all the best in his future endeavors,” Conoscente said.

“I extend my gratitude to Romain Launay, who is leaving SCOR after 12 years,” Léger said. “During that time, he climbed the ladder to support the company’s development at the highest level and contributed significantly to the Group’s success. I wish him every success in the next stage of his career.”

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