Denis Kessler

An investigation opened in 2022 concerns an alleged attempt to derail Covéa's acquisition of PartnerRe. In April 2025, SCOR as a legal entity was formally placed under investigation for alleged acts that the investigation attributes in particular to its former chairman Denis Kessler, who reportedly acted through an association. Kessler had died in June 2023.

State of the evidence

Allegations

Attribution

Directly implicated

Role of the person profiled

Protagonist not prosecuted

Covéa's attempt to take control of SCOR in 2018 triggered open conflict between Denis Kessler and Thierry Derez. SCOR sued Covéa and its chief executive, who were ordered in 2020 to pay approximately €20 million before an overall settlement ended the dispute in 2021.

State of the evidence

Documented

Attribution

Direct responsibility

In March 2021, Covéa referred Denis Kessler to the National Financial Prosecutor's Office on SCOR's behalf for market manipulation and misuse of corporate assets, challenging share buybacks and defence expenses incurred after the attempted takeover in 2018. In May 2021, AMF informed the prosecutors that the evidence available to it did not substantiate the market manipulation allegation.

State of the evidence

Documented

Attribution

Directly implicated

Activist fund CIAM called for Denis Kessler's removal from SCOR's board, separation of the chairman and chief executive roles and rejection of his remuneration, denouncing his 'omnipresence' in governance. Shareholders overwhelmingly rejected the resolution seeking his removal.

State of the evidence

Documented

Attribution

Direct responsibility

As Medef's second-in-command, Denis Kessler was one of the principal opponents of the 35-hour working week legislation. He described it as a 'historic economic policy mistake' and was still arguing for its abolition in 2012.

State of the evidence

Documented

Attribution

Personally implicated

In a Challenges opinion piece entitled 'Farewell 1945, let us reconnect our country with the world!', Denis Kessler argued that the reforms under way shared a coherent purpose: 'methodically dismantling' the arrangements stemming from the National Council of the Resistance's programme, notably Social Security, the civil service and pensions.

State of the evidence

Documented

Attribution

Directly implicated

Denis Kessler played a central role in Medef's decision to withdraw from Social Security governing boards in 2001, then in the conditions for a possible return: ending Social Security funding of the 35-hour week, introducing new governance and reforming health insurance to include greater competition between providers.

State of the evidence

Documented

Attribution

Direct responsibility