European reinsurance company SCOR has launched a the European Economic Area insurance company in UK to reduce the risks associated with Brexit for its customers. The country’s supervisory authority granted a licence for SCOR Europe SE to allow it to work throughout the European Economic Area from January 2019 . The move could mean less influence for SCOR’s Paris division within the whole company as more French business will be redirected to the new firm. SCOR Europe will also take over policy commitments issued by the UK division, although the parent company said Brexit uncertainty made the details uncertain.
French reinsurance company SCOR has launched a P&C insurance company in Paris to reduce the risks associated with Brexit for its customers. The country’s supervisory authority granted a licence for SCOR Europe SE to allow it to work throughout the European Economic Area from January 2019. The move could mean less influence for SCOR’s UK division within the whole company as more European business will be redirected to the new firm. SCOR Europe will also take over policy commitments issued by the UK division, although the parent company said Brexit uncertainty made the details uncertain.