France’s SCOR Group announced that it has opened a representative office in Johannesburg, South Africa, as part of its “strategic development plans for the English and Portuguese speaking markets on the African continent.”
SCOR said the new facility is “in keeping with its policy of establishing a presence in the markets where it conducts business, the Group is aiming to provide a local office that will offer regional clients a direct contact and the coordination necessary for easier and more effective access to its global reinsurance services in the Non-Life and Life sectors.”
SCOR indicated that the South African insurance market is likely to continue to expand and that it seeks to “actively contribute to this expansion, not only by providing reinsurance capacity but also by offering its expertise in the areas of risk analysis and support in the marketing of new products, in particular with specialty lines.”
According to Victor Peignet, CEO SCOR Global P&C: “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. It is our clear desire to be an important reinsurance player in these markets, with the abiding goal of operating as a long-term partner for our clients.”
In addition to the new facility in Johannesburg, SCOR said it “also plans 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 its activities in the oil and mining industries.”
Mohamed Motala has been appointed Manager of the Johannesburg office. He holds an MBA from the University of Pretoria. He previously served as director of reinsurance at ABSA Insurance Company Limited and client manager for Swiss Re Africa. His experience in the field of reinsurance and his knowledge of the South African market are expected to figure prominently in developing the local office.
Source: SCOR Group – www.scor.com
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