SCOR Signs Two Life Re Contracts For $200 Million

SCOR Group announced that its U.S. subsidiary, SCOR Life US Reinsurance Cy, formed following the acquisition of PartnerRe Life last April, has signed two major reinsurance contracts “representing total annual premium volumes in excess of USD 200 million, of which USD 50 million for the fourth quarter of 2000.”

SCOR’s impressive entry into the U.S. life reinsurance market is in line with its announced strategy of actively pursuing growth in this area, while remaining one of the world’s leading p/c reinsurers. It has made impressive gains. Specialty reinsurance now accounts for 34 percent of its premium, life is up to 29 percent, while p/c reinsurance coverage has dropped from 73 percent to 37 percent accordingly.