SCOR Group announced the formation of its new division, SCOR Business Solutions, to a group of over 100 risk managers, brokers and insurers in Paris on Wednesday.
The new unit will specialize in handling large corporate accounts, and will concentrate on “seeking comprehensive covers against risks that are becoming increasingly sophisticated and global in nature.”
“SCOR BUSINESS SOLUTIONS aims to go beyond a traditional facultative reinsurance approach by offering true risk financing solutions: global programmmes (multi-peril, multi-year, etc.), offering traditional risk transfer with alternative solutions, extended capacity, etc.,” said the announcement.
SCOR joins a number of other major insurers (AXA, XL, ACE, Swiss Re, etc.) who have created integrated risk financing/global solution units to serve the needs of multinational corporations. The new division will concentrate on consolidating “SCOR’s leadership in the fields of Energy, Major Projects and Space risks,” and aims to be “a leading player in other sectors of Industry and Services.”
Topics New Markets
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