SCOR P&C has announced that René Kunz (pictured above, right), head of agriculture, will retire after nearly 20 years with the company.
Vikas Mahajan (pictured above, left) has been appointed as his successor, effective May 1. Kunz will remain at SCOR until July to facilitate the transition.
Kunz joined SCOR P&C in 2006 as chief underwriting officer for agriculture after serving as deputy head of agriculture at GE Insurance Solutions for nearly five years. During his tenure, he played a role in expanding SCOR’s agriculture portfolio and establishing a global team of specialists.
Mahajan, who will be based in Zurich, will join the reinsurance specialty lines management team and report to Eric Jenck, head of specialty lines. He has more than 20 years of international experience in reinsurance, with expertise in treaty and specialty lines underwriting and brokering, as well as portfolio and team management.
Since joining SCOR in 2019 as a senior underwriter in Singapore, Mahajan has been responsible for developing and managing the P&C treaty portfolio in Singapore and parts of South Asia.
In 2023, he relocated to Cologne as a member of the Nordics team. His previous experience includes positions at J B Boda & Co, Swiss Re, and GIC Re.
Mahajan holds an MBA in finance from the University of Jammu in India. He is a fellow of the Insurance Institute of India and an associate of the Chartered Insurance Institute in the UK.
SCOR’s last major development within its agriculture business was in 2020, when the global reinsurer acquired a majority stake in AgroBrasil, a leading player in Brazil's agriculture insurance market.
SCOR appointing a new head for its agriculture business is also in line with the growth trend for the segment globally. In 2024, the global agriculture reinsurance market was valued at approximately US$21.13 billion, but projections indicate that this market will reach US$59.49 billion by 2034.
Besides its agriculture business, SCOR’s specialty lines also includes engineering, marine, inherent defects insurance (IDI), financial lines, and alternative solutions.
The unit contributed a substantial 14.3% growth to SCOR's 9.6% increase in EGPI during the latest P&C reinsurance renewals.
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