SCOR Global Life said that it plans to establish a new Life representative office in Tel Aviv for the Israeli Life and Health market, which is estimated to represent around EUR3.4bn in 2010.
The company said that the Global Life, the new office is expected to enable the company to cooperate closely with its existing and prospective clients and partners, thereby further enhancing its presence and position on this market.
SCOR said that the Israeli operations will be continuously supported by Life specialists in Zurich, Paris and Cologne. SCOR will officially open its new Israeli Life reinsurance representative office on March 24, 2010, with representatives of the local insurance market.
According to SCOR, the team will be headed by Gabriele Hollmann, CEO of SCOR Global Life Switzerland, who will continue her marketing activities on the Israeli market from Zurich.
In addition, Murielle Busbib, a senior actuary from SCOR Global Life Paris, will head the new office. She will use her technical expertise to provide efficient technical support across all lines of Life insurance in Israel. Michal Tomer will be in charge of medical underwriting services for the Israeli market.
Gilles Meyer, CEO of SCOR Global Life, said: “This opening demonstrates our long-term commitment to the Israeli insurance market. This decision is in line with SCOR’s strategy to increase our local presence in major insurance markets and to expand our regional portfolio.”