SCOR TO LAUNCH P/C REINSURANCE BUSINESS IN CHINA

French reinsurer Scor has received final approval from the China Insurance Regulatory Commission (CIRC) to set up a nationwide non-life reinsurance operation in China. The Scor Beijing branch will be headed by general manager Ms Min Wu. Scor CEO Dennis Kessler said that Scor had been present in China for more than 35 years and that Scor was now “in a position to further benefit from the high growth rate of the Chinese reinsurance market”. Scor opened a representative office in Beijing in 2000. It obtained initial approval in October 2006 to apply for the establishment of a non-life reinsurance branch ( ID Asia , October 31 2006). It initially submitted a request in March 2004.