SCOR Syndicate appoints Marie Biggas as Active Underwriter
SCOR’s 100% backed SCOR Syndicate is pleased to announce the appointment of Marie Biggas as Active Underwriter and Chief Underwriting Officer of SCOR UK, subject to regulatory approval. She will report to both Stuart McMurdo, CEO of SCOR P&C EMEA and the SCOR Syndicate and to Olivier Perraut, Global CUO Single Risks.
Previously Marie was Vice President, Deputy Active Underwriter for Arch Syndicate 2012, and Head of Terrorism, Aviation, War and Space for Arch Insurance International. Prior to joining Arch in 2014, she held several underwriting positions at ACE Group, Chaucer Syndicates, and Amlin, and has 14 years of experience in the insurance industry.
Marie is a Chartered Insurer and Associate of the Chartered Insurance Institute. She holds a bachelor’s degree in Public Administration from Roskilde University and an MA in Political Communications from Goldsmiths University.
Stuart McMurdo commented: “We are entering a new chapter in the Syndicate’s journey. The intention is to build on two great consecutive results in 2020 and 2021 and continue delivering profitable growth in the years ahead, whilst at the same time broadening the SCOR Specialty Insurance profile and presence in the London Market and Europe. We are delighted to be able to bring someone of Marie’s stature and ability to execute the next stage of our plans. Her appointment further strengthens our existing executive team.”
NATIONAL BANK OF GREECE S.A. ACTS AS EXCLUSIVE UNDERWRITER OF AN UP TO EUR 41.745M FINANCING TO EGYPT’S ELSEWEDY ELECTRIC FOR THE ACQUISTION OF A PORTFOLIO OF RENEWABLE ENERGY PROJECTS IN GREECE
National Bank of Greece S.A. (“NBG”) is pleased to announce the successful underwriting and arrangement on an exclusive basis of an up to EUR41.745m bilateral bond loan financing pack (the “Facility”) to Elsewedy Electric (the “Company”).
The Facility is successfully utilized, with its proceeds being used to partially finance the Company’s acquisition of a portfolio of renewable energy projects in Greece. The Facility is structured as a long-term, non-recourse portfolio financing to the Company, aligned to the customary principles of the international leveraged buyout market. The transaction was completed in accordance with a tight timeline customised to meet the Company’s needs, whilst addressing diverse structural complexities and confidentiality requirements implied by private transactions of such nature.
Mr. Vassilis Karamouzis, Assistant General Manager, Corporate & Investment Banking at NBG comments: “We are pleased to support Elsewedy Electric, an established Energy player of the Middle East, in its strategic entry to Greece. The local secondary Energy market evolves into a key driver of Foreign Direct Investment in the country, due to its relative value mostly in terms of locked tariffs of existing projects. The transaction falls at the forefront of NBG’s corporate strategy to optimally employ our robust liquidity, as it bridges our top capabilities in financing Energy sector initiatives, with our strong focus to facilitate international demand for Greek risk.
“White & Case LLP and Potamitis Vekris law firm acted respectively as NBG’s international and Greek legal counsel in relation to the transaction.