The Insurance Regulatory and Development Authority of India (IRDAI) has granted SCOR “R3 authorization,” allowing the group to open a composite branch office in India to conduct life and P/C reinsurance business.
SCOR has been writing business with Indian clients since 1973, having opened a liaison office in India in 2005. The establishment of a SCOR branch in 2016 demonstrates the Group’s commitment to the Indian market and to the continued provision of services to its clients in the country.
Denis Kessler, chairman & chief executive officer of SCOR, comments: “Receiving the R3 authorization from the IRDAI to establish a SCOR branch in India marks a milestone for the group in terms of solidifying its presence in the country, where it has enjoyed strong business relationships for many years. Our local team will be ready to provide business solutions to our Indian clients as of the
April 1, 2017 renewals.”
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