SCOR Global Life, an independent global reinsurance company, has combined its global markets and client solutions teams under one leadership structure.
As part of its move, SCOR announced new appointments. David O’Brien has been promoted as the global markets deputy head and client relationships head.
O’Brien was formerly Financial Solutions and Longevity group head and he retained the responsibility of those product lines. His responsibilities will now expand to cover client relationships across SCOR Global Life.
Based in London, O’Brien reports to SCOR Global Life deputy CEO and global markets head Brona Magee.
Christopher Smith has been appointed as the company’s global financial solutions head. Smith has served group finance for seven years, where he led corporate finance and treasury.
Smith will lead the financial solutions product line strategy globally, with focus on strategy, execution and capital and liquidity optimization. He is based in London and will report to O’Brien.
The third appointment is Barthélemy Philippe, whose role has been expanded as SCOR Global Life’s client solutions head.
Philippe’s focus will expand to include all the solutions that can be developed for the company’s clients. His role will focus on all stages of the consumer journey.
Philippe will retain his present responsibilities for health solutions and will now shoulder additional responsibility of developing new propositions, working closely with market teams. Based in Paris, Barth will report to Brona Magee.
SCOR Global Life deputy CEO and global markets head Brona Magee said: “By combining the Global Markets and Client Solutions teams under one leadership structure, SCOR Global Life is creating a powerful team to further increase the value we add to peoples’ lives across the globe.
“This new organization will focus on working with our clients to deliver life-changing solutions, bringing protection and peace of mind to more consumers and working to improve the health outcomes of in-force policyholders.”
SCOR recently concluded £1.2bn longevity reinsurance deal with Pension Insurance Corporation (PIC). The deal includes longevity risk for around 8,000 in-payment lives and, where applicable, their spouses, across six separate defined benefit pension schemes. The deal builds on a similar £1bn contract executed last year.