French-based reinsurer SCOR Re, which has had a presence in Moscow
for 10 years, said that it has applied for a license in Russia for
a subsidiary for 2009.
SCOR said that the subsidiary will enable it to expand its franchise
in the Commonwealth of Independent States.
SCOR is among the leaders of the global insurance market, with 49 offices
across 5 continents. The Group's gross written premiums reach
EUR 4,325 million in the first nine months of 2008, up 27.9% compared
to the same period in the previous year. At the same time, group recorded
a net income of EUR 280 million in, down 6.7% from EUR 300 million
compared to 2007. Despite these developments, SCOR posts a result of
EUR 38 million in the third quarter of 2008. The year-to-date return
on equity (ROE) stands at 10.7%.
