Tier 1 French reinsurer SCOR is opening a representative office in Nairobi, Kenya following regulatory approval from the Insurance Regulatory Authority of Kenya (IRA).
Originally named Société Commerciale de Réassurance, SCOR provides Property and Casualty (P&C) and Life reinsurance solutions.
The SCOR Global P&C SE representative office in Kenya will focus on non-life reinsurance in the country and promote the company’s services and capabilities in the East Africa region.
The SE means it is a “Societas Europaea” or European Society. SCOR is the first French listed company to use the “SE” acronym in its name.
“The opening of the representative office will enable us to better market our customized solutions to our clients in the East African markets, in order to provide responses adapted to their evolving needs,” Victor Peignet, Chief Executive Officer of SCOR Global P&C said.
The new office is also part of the firm’s “Vision in Action” strategic plan to expand and deepen its franchise and its commitment to Africa where it has been underwriting reinsurance business for over four decades.
The SCOR Global P&C SE representative office in Kenya will opened on 1st September 2017 under the leadership of Christian Ramamonjiarisoa.