French insurance 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 2018 . The move could mean less influence for SCOR ’s UK division within the whole EU as more European business will be redirected to the new firm . The plan had been to establish a continental European P&C insurance subsidiary to serve clients in Europe, while leaving the remaining business to its UK subsidiary. SCOR SE will also take over the commitments issued by the UK division , although the parent company said Brexit uncertainty made the details uncertain .
French insurance 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 2018 . The move could mean less influence for SCOR ’s UK division within the whole EU as more European business will be redirected to the new firm . SCOR SE will also take over the commitments issued by the UK division , although the parent company said Brexit uncertainty made the details uncertain .