Scor loses three executives
Jan. 10 (Bloomberg) ? Scor Vie, the life reinsurance unit of France's Scor SA, has lost three of the six members of its executive committee, including managing director Romain Durand.
Durand, head of strategy Arnaud Chneiweiss and Financial Director Florence Aurelly have resigned, the French financial daily les Echos reported earlier today. Aurelly will stay at her post until the 2005 earnings are compiled, the newspaper added. Godefroy de Colombe, a spokesman for Paris-based Scor, confirmed the report. He wouldn't elaborate further.
Les Echos said today Durand wanted to invest more in the unit and that this was refused by Scor Chief Executive Officer Denis Kessler, who has been cutting costs.
Scor already announced yesterday the departure of Alain Chevreau, the head of Scor Vie for France. The company said Gilles Thivant will replace him.
Notwithstanding the departures, Scor Vie's "technical and underwriting teams remain motivated as the first results of 2006 contract renewals show," said de Colombe.
Scor is set to publish 2006 contract renewal results excluding Asia on Feb. 28.