SCOR

Industry:	Insurance
Revenues:	$18.8 Million
Employees:	1,021

Description

The SCOR Group has opened a representative office in South Africa. The creation of this office in Johannesburg forms part of SCOR's strategic development plans for the English and Portuguese speaking markets on the African continent.

In keeping with its policy of establishing a presence in the markets where it conducts business, the Group is aiming to provide a local office that will offer regional clients a direct contact and the coordination necessary for easier and more effective access to its global reinsurance services in the Non-Life and Life sectors.

The SCOR Group believes that the South African insurance market will continue to expand and wishes to actively contribute to this expansion, not only by providing reinsurance capacity but also by offering its expertise in the areas of risk analysis and support in the marketing of new products, in particular with specialty lines.

According to Victor Peignet, Chief Executive Officer SCOR Global P&C, "The Group's objective is to reinforce its ties with the South African market in order to enlarge its client base and solidify and diversify its regional portfolio in South Africa and other English and Portuguese speaking markets in Africa. It is our clear desire to be an important reinsurance player in these markets, with the abiding goal of operating as a long-term partner for our clients."

With its presence in Johannesburg, SCOR also wishes to create a regional platform to support market developments in countries such as Angola or Nigeria with which it has long maintained relations, in particular through its activities in the oil and mining industries.

M. Mohamed Motala has been appointed Manager of the new representative office. He holds an MBA from the University of Pretoria. He previously served as director of reinsurance at ABSA Insurance Company Limited and client manager for Swiss Re Africa.

His experience in the field of reinsurance and his knowledge of the South African market will be instrumental in developing the local office.

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News Archive

A.M. Best Revises Outlook to Positive and Affirms Ratings of SCOR S.E. Business Wire; 9/4/2009 ...and the issuer credit rating (ICR) of "a-" of SCOR S.E. (SCOR) (France) and its rated subsidiaries. Concurrently...and subordinated debt either issued or guaranteed by SCOR. (See list below for a detailed listing of the ratings... ...more

Supply Chain Council to Launch SCOR Scholar Student Certification through Universities in 2010-2011 Academic Year. Business Wire; 12/17/2009 ...SCC, www.supply-chain.org) will offer the SCOR[R] Scholar (SCOR-S) certification program. Designed for university students who do not yet possess significant experience, SCOR-S certification will demonstrate understanding of... ...more

France : WTC Settlement to Cost Scor 39 Million Euros. TendersInfo; 11/18/2009 Byline: datta03 French reinsurer Scor has admitted defeat in its effort to challenge...subsequent dispute over contract certainty. Scor challenged the settlement, claiming the...related to Allianz Global Risks, which Scor had reinsured, went beyond Scor's contract... ...more