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French insurer opens office in SA
Posted Fri, 04 Jan 2008
French reinsurer Scor Group announced on Thursday that it had opened an office in Johannesburg, both to reinforce its ties with the South African insurance market and to create a platform for expansion in the English and Portuguese speaking markets on the continent.
The company said in a statement that it believed the South African insurance market would continue to expand and that it wished to "actively contribute to this expansion".
Scor Global P&C chief executive officer Victor Peignet said the group aimed to enlarge its client base and solidify and diversify its regional portfolio in South Africa and countries such as Angola or Nigeria, with which it has long maintained relations, particularly through its activities in the oil and mining industries.
"It is our clear desire to be an important reinsurance player in these markets, with the abiding goal of operating as a long-term partner for our clients," Peignet said.
The local office would offer regional
clients "a direct contact and the coordination necessary for easier and more effective access to its global reinsurance services in the non-life and life sectors."
Scor said that M Mohamed Motala had been appointed manager of the new representative office. Motala, who holds an MBA from the University of Pretoria, was previously director of reinsurance at Absa Insurance Company Ltd and client manager for Swiss Re Africa.
"His experience in the field of reinsurance and his knowledge of the South African market will be instrumental in developing the local office," Scor said.
SAinfo reporter
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