French reinsurer SCOR SE announced that it has renewed its successful business relationship with the Medical Defence Union Ltd. (MDU), the UK’s leading medical defense organization.
MDU was a joint venture partner of Converium AG of Switzerland, which became part of SCOR last year (See IJ web site – http://www.insurancejournal.com/news/international/2007/05/10/79589.htm). SCOR said it has “secured a ten year agreement, commencing on 1st April 2008, to provide professional indemnity insurance to the members of the MDU.”
Denis Kessler, Chairman and CEO of SCOR, called the conclusion of the agreement a “a great achievement for SCOR to be able to count on continued partnerships with successful organizations such as the MDU. The ongoing business relationship with such an important and highly valued client clearly proves SCOR’s ability to effectively consolidate SCOR and Converium, thereby taking advantage of capital management and diversification benefits for itself and its clients.”
Dr. Michael Saunders, CEO of MDU, added: “The MDU is delighted that its successful relationship with Converium is now set to continue with SCOR and that our members will have the benefit of insurance supported by a major European reinsurance group. We look forward to working with our new partners.”
Source: SCOR SE – www.scor.com
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