Scor names Swiss Re's Rüede L&H CEO

By Rebecca Delaney

April 23 - (The Insurer) - Scor has appointed Philipp Rüede as CEO of life and health (L&H) and a member of the executive committee, effective from June 1.

Rüede joins Scor from rival reinsurer Swiss Re, where he most recently served as head of alternative capital partners. He joined Swiss Re in 2013 as head of reinsurance capital management, with subsequent roles including global head of P&C structured solutions.

He succeeds Frieder Knüpling, who stepped down from the role in July 2024.

Scor said Rüede's immediate priorities are to drive its L&H new business strategy and improve the cash profile of the L&H business, in line with the updated strategy for the division unveiled at the reinsurer's investor day in December 2024.

Scor decided to accelerate an L&H assumption review across the U.S., Canada, South Korea and Israel after issuing a profit warning for the segment in July 2024.

The group confirmed in November that the review had been completed.

At the investor day the following month, Scor confirmed its core group financial and solvency targets for 2025-26, including assumptions for an L&H insurance service result and new business contractual service margin both of around 0.4 billion euros per annum.

Scor said a more efficient and focused L&H organisation is expected to contribute additional management expense savings of 30 million euros from 2025.