French headquartered global reinsurance player SCOR has received approval to open a Japanese branch office for life and health reinsurance operations under its SCOR Global Life SE brand.
The Financial Services Agency of Japan (FSA) has approved SCOR Global Life SE’s application to open a branch office in Tokyo as of April 4th 2017.
The new branch will be known as SCOR Global Life SE Japan Branch and will enable SCOR to conduct Life and Health reinsurance underwriting in Japan.
SCOR already has a presence in Japan, having set up its first Liaison Office in the country in 1983.
The new Japanese branch will focus on product development, reinsurance underwriting, claims and risk solutions for the Japanese Life and Health market (First and Third Sector product lines in Japan) and will draw on SCOR’s expertise, particularly in Long-Term Care, Critical Illness, other health products and distribution solutions.
Paolo De Martin, Chief Executive Officer of SCOR Global Life, commented on the announcement; “We welcome the approval granted by the Financial Services Agency of Japan to open a SCOR Global Life branch office in Tokyo. The opening of the branch will enable us to deliver new and innovative solutions to support our customers in the Japanese life market.”