SCOR receives approval to open a branch of SCOR Global Life SE in Japan SCOR Global Life

03 April 2017 N° 10 - 2017

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PRESS RELEASE |03 April 2017 N° 10 – 2017

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The Financial Services Agency of Japan (FSA) has granted SCOR Global Life SE approval to open a branch office in Tokyo as of April 4, 2017. The new branch, SCOR Global Life SE Japan Branch, will allow SCOR to conduct Life and Health reinsurance business in Japan.

 

SCOR has had a presence in Japan since 1983 when SCOR set up Japan Liaison Office.

 

The establishment of this branch office in Japan is part of the Group’s “Vision in Action” strategic plan to expand and deepen its franchise, and clearly demonstrates the Group’s commitment to the Japanese market. 

 

The new Japanese branch will focus on delivering innovative products, underwriting, claims and risk solutions to the Life and Health market (First and Third Sector product lines in Japan) and will leverage on SCOR’s expertise, particularly in Long-Term Care, Critical Illness, other health products and distribution solutions.

 

 

Paolo De Martin, Chief Executive Officer of SCOR Global Life, comments: “We welcome the approval granted by the Financial Services Agency of Japan to open a SCOR Global Life branch office in Tokyo. The opening of the branch will enable us to deliver new and innovative solutions to support our customers in the Japanese life market.”

 

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Marie-Laurence Bouchon
Group Head of Communications
+33 (0)1 58 44 75 43
mbouchon@scor.com


Ian Kelly
Head of Investor Relations 
+44 203 207 8561
ikelly@scor.com

 

For the second consecutive year, SCOR is named “North American Reinsurer of the Year” at the Reactions Magazine North America awards.

This award confirms SCOR’s reinforced leadership in the US individual Life market. SCOR has a very strong franchise in the US, offering a full range of solutions to support insurers, from managing their mortality risk exposures to optimizing their balance sheet and capital position. SCOR also helps its American clients to grow their business with its market-leading Velogica© automated underwriting system.

Paolo De Martin, CEO of SCOR Global Life, comments: “We are very proud to be granted this prestigious award for the second year in a row. We embarked on a challenging journey five years ago, acquiring Transamerica Re and then Generali USA’s life reinsurance activities; we managed to take the best of both structures and combine it with our existing business to build a leading franchise. I am delighted that the industry recognized that we are consistently delivering the highest level of service to our clients. Going forward, bringing differentiating solutions to the market remains at the core of SCOR’s “Vision in Action” new strategic plan”. 

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