That suggests a lessening of the influence of SCOR UK within the global group and a loss for the London market, as more of the re/insurance giants European business will now flow through this new Paris arm. 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.
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.