The China Insurance Regulatory Commission (CIRC) has granted a composite license to SCOR, which will enable the company to extend its current non-life activities to Life & Health business in China.
SCOR said that it had increased the capital of its Beijing branch from EUR20m to EUR31m in January 2010, with the approval of CIRC. Its branch in China is headed by Yu Wei Dong and the company’s life and health activities in China will be headed by Zhao Zeying.
Mrs Zeying joined marketing department of SCOR Global Life in Paris in 2007, before joining the Asian department in August of same year. Since September 2007 she has been company’s chief representative the group’s representative office in Beijing.
Denis Kessler, chairman and CEO of SCOR, said: “With the extension of its existing licence to Life & Health, SCOR is well positioned to benefit from this growth, by providing its Chinese clients with expertise in terms of innovation, capital management and risk selection.”