Annual Report - Scor
Annual Report - Scor
Annual Report - Scor
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Since the opening of the Brazilian reinsurance market in early<br />
2008, SCOR Global Life has established a local team in Sao Paulo<br />
as an authorised reinsurer offering its expertise and services to<br />
insurance companies. Furthermore, thanks to the active<br />
participation of ReMark, SCOR Global Life is expanding its<br />
distribution platforms to gain shares in medium-sized markets<br />
across the Americas.<br />
In Asia, SCOR Global Life showed notable developments and<br />
reinforced its market positions. The Group established a<br />
partnership with China Life Re, and increased its premium income<br />
in this market. SCOR Global Life is building on its strong presence<br />
in Asia with a network of seven offices. This growth is supported<br />
by constant product innovation for the region (e.g. Long-Term<br />
Care, non-selective whole Life, preferred individual Life) and by<br />
close cooperation with ReMark.<br />
In the Eastern European countries, SCOR further supported the<br />
development of its clients throughout 2008, thanks to its local<br />
presence in Russia and to the introduction of new products such<br />
as disability and long-term care cover.<br />
In order to reinforce its leading position on the Life reinsurance<br />
market in Scandinavia, SCOR-Sweden Re has developed a new<br />
online pricing and medical selection tool. This new tool, called<br />
PRIO, is devoted to the insurance of young people. It was<br />
successfully implemented in 2009 and many Scandinavian clients<br />
already use PRIO on a regular basis to underwrite insurance for<br />
children.<br />
In the Middle East, SCOR Global Life reinforced its excellent<br />
positioning in 2009 thanks to client relations developed over the<br />
long term and an efficient network. The region recorded doubledigit<br />
growth rates for both Life and Health insurance products,<br />
along with solid profits. Due to the relatively low penetration rate<br />
for Life and Health insurance in this part of the world, the outlook<br />
for growth remains excellent in the years ahead. Moreover, SCOR<br />
Global Life’s Retakaful office in Labuan has excellent growth<br />
potential in terms of existing and prospective clients, since it<br />
provides them with solutions and capacity within the ethical<br />
framework that they expect.<br />
48<br />
<strong>Annual</strong> <strong>Report</strong> SCOR 2009<br />
gross written preMiuMs in €m<br />
2,613<br />
2,701<br />
3,118<br />
2007 2008 2009<br />
Strong Life growth<br />
Distribution of preMiuM incoMe<br />
by geographic area<br />
Solid European roots<br />
Distribution of preMiuM incoMe<br />
by line of business<br />
Mortality-based portfolio<br />
53% Europe<br />
34% Americas<br />
13% Asia/Rest of the World<br />
45% Life<br />
17% Financing<br />
13% Annuities<br />
8% Health<br />
7% Disability<br />
4% LTC<br />
4% Crtical illness<br />
2% Personal Accident
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