Expanding its reach in China’s
insurance market, French reinsurer SCOR Group has been granted a
composite licence by the China Insurance Regulatory Commission that
will enable it to extend its current general insurance activities
into the life and health insurance sectors.
SCOR was approved by the CIRC to
conduct general reinsurance business in China in October 2006 and
began underwriting in 2008. In January 2010, SCOR increased the
capital of its Beijing branch from €20m ($27m) to €31m.
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SCOR’s life and health insurance
operations in China are headed by Zhao Zeying, a French citizen,
who since September 2007 has been SCOR Global Life’s chief
representative at SCOR Group’s representative office in
Beijing.
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