French reinsurer SCOR placed under examination for facts alleged against former CEO Kessler
- July 9, 2025
- Posted by: Luke Gallin
- Category: Insurance
French reinsurance company SCOR has been placed under examination for facts alleged against Denis Kessler, its former Chairman and CEO, related to alleged attempts by an association to obstruct the takeover of Bermuda-based reinsurer PartnerRe by the Covéa group in 2022.
According to reports, SCOR, one of Europe’s big four reinsurance companies, has been placed under examination as a legal entity connected with a judicial investigation in France related to an association which allegedly tried to block the acquisition of PartnerRe.
The reason SCOR has been placed under examination is because of the alleged personal involvement of Kessler in some of these facts, when he was the non-executive chairman of the firm’s Board and no longer SCOR’s legal representative.
“SCOR SE firmly denies having had any direct or indirect involvement in the acts of which this association is accused,” says the reinsurer.
The company adds that being placed under examination does not impact its ability to pursue its activities in the normal course of business.
“In any event, SCOR SE is presumed innocent, and vigorously denies any responsibility in connection with this matter,” adds SCOR.
Commenting on the news, analysts at Goldman Sachs said: “While we take no view on the outcome of the examination, until resolved, it provides an unhelpful overhang, even if there is no impact on the group’s ability to pursue its activities in the normal course of business.”
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