SCOR Expands To S. Africa

The SCOR Group said it has opened a representative office in Johannesburg, South Africa, which the company said forms part of its 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, SCOR said it is aiming to provide a local office that will offer regional clients a direct contact; better coordination; and easier, more effective access to nonlife and life reinsurance services.

The SCOR Group said the South African insurance market will continue to expand, and it wants to contribute to this expansion by providing reinsurance capacity, offering expertise in the areas of risk analysis and support in the marketing of new products-- with specialty lines in particular.

Victor Peignet, chief executive officer, SCOR Global P&C, said "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."

He added that it is the company's 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 said it also seeks 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 the oil and mining industries.

M. Mohamed Motala has been appointed manager of the new representative office. He previously served as director of reinsurance at ABSA Insurance Company Limited and was client manager for Swiss Re Africa.