SCOR to start underwriting life and P&C reinsurance in India in April

SCOR has been granted R2 authorisation by the Insurance Regulatory and Development Authority of India (IRDAI), which allows it to open a composite branch office in India to conduct life and property/casualty (P&C) reinsurance business.

Furthermore, SCOR intends to establish the branch office in India as soon as it receive R3 authorisation, and is expected to start underwriting business from the April 1, 2017 renewals.

SCOR said it is committed to enhancing its local resources in order to provide its Indian clients with tailor-made reinsurance solutions.

Denis Kessler, chairman and CEO of SCOR, commented: "This decision by the IRDAI is a milestone in the process of opening a composite branch in India. SCOR looks forward to reinforcing its presence in the country. Both business engines, P&C and Life, will complement each other in providing Indian clients with comprehensive reinsurance solutions."