French reinsurance group SCOR said that after six years as chief financial officer (CFO) of the group, Paolo De Martin had decided to take a period of sabbatical leave, and will re-join the management team in a new role in January 2014.
With immediate effect Mark Kociancic, currently deputy group CFO is promoted to group CFO and member of the group executive committee,
Thanking De Martin, SCOR’s chairman and chief executive officer (CEO), Denis Kessler, said that during his period as CFO the group has doubled in size whilst maintaining a high level of profitability and solvency.
De Martin, an Italian citizen, graduated from Ca’ Foscari University, Italy, with a degree in Business Economics. He then spent two years in the optical business as founder and managing partner of an eyewear manufacturer. He joined General Electric (GE) in 1995 as a finance trainee in London. In 1997, he joined GE’s internal auditing and consulting group, charged with assignments in multiple GE businesses in the Americas, Europe and Asia-Pacific.
In 2001, De Martin was promoted to executive manager for GE Capital Europe, before joining GE Insurance Solutions as financial planning and analysis manager for global property and casualty reinsurance. In 2003, he was appointed CFO of GE Frankona before becoming CFO of Converium Holding in July 2006. In September 2007, De Martin was appointed group CFO of SCOR.
Kociancic, a Canadian citizen, is a graduate of the University of Toronto and holds a Bachelor of Commerce degree. He also holds a Chartered Accountant (CA) designation and a Chartered Financial Analyst (CFA) designation. Upon graduation in 1992, Kociancic joined Ernst & Young within its life and property/casualty insurance practice and has subsequently held successively senior positions within the insurance industry with St Paul Guarantee, Avalon Risk Associates and Tokio Marine, prior to joining SCOR US as senior vice president and CFO in May 2006.
He was appointed SCOR Americas Hub CFO in June 2008 and was promoted to executive vice president in July 2010. He was appointed deputy CFO of SCOR in October 2012.
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