SCOR group has announced the creation of SCOR Europe SE, a new propert & casulaty specialty insurance company.
Based in Paris, The new entity has been approved by the supervisory (ACPR) to exercise within the European Economic Area (EEA) starting from January 1st, 2019.
SCOR Europe SE will underwrite all new and renewed business of risks located in the EEA that can no longer be dealt with by SCOR UK Company Ltd. after the Brexit. At the same time, the latter will continue to serve all its clients in the rest of the world .
This project is part of SCOR's Vision in Action strategy whose objective is to help develop specialty insurance activities and leverage SCOR's underwriting expertise according to Laurent Rousseau, deputy CEO of SCOR Global P & C. The newly created company benefits from the financial strength of SCOR group recognized by the rating agencies.
Standard & Poor's, in particular, has assigned an AA- rating to SCOR Europe SE.