REINSURANCE group Scor has appointed Nicolas Tissot as its new chief operating officer.
Tissot, who was previous finance chief at French energy firm Alstom, took up his new role yesterday.
Scor said he has been put in charge of “implementing the means necessary to reinforce operational excellence and providing the group’s business units with the support that they need”.
He has also joined the firm’s executive committee.
Tissot will report directly to Scor chairman and chief executive Denis Kessler, who said the new recruit “will be in charge of rolling out the means necessary to reinforce the group’s operational excellence”.
Kessler added that Tissot’s “managerial and financial skills, along with his experience within global industrial groups, will be major assets for Scor in the implementation of the ‘Optimal Dynamics’ plan”.
Optimal Dynamics is Scor’s three-year strategic plan covering the period from mid-2013 to mid-2016, which has two main objectives – a return on equity of 1,000 basis points above the three-month risk-free rate over the three years, and a solvency ration in the 185 to 220 per cent range.
Tissot joined Alstom in 2010, and in 2014 was appointed as an adviser to the group’s chairman and chief executive.
Before that, he held several executive and financial management positions at Suez and GDF, and previously worked at the French ministry of economy, finance and industry.
Scor, which is headquartered in Paris, recently reported gross written premium of €6.5bn (£4.8bn) in the first half of 2015, up from €5.4bn in the same period of last year. The company also maintained a combined ratio of 90.9 per cent in its global property and casualty division.