Press Release
3 April 2017 - N° 10
SCOR receives approval to open a branch
of SCOR Global Life SE in Japan
The Financial Services Agency of Japan (FSA) has granted SCOR Global Life SE approval to open a branch office in Tokyo as of April 4, 2017. The new branch, SCOR Global Life SE Japan Branch, will allow SCOR to conduct Life and Health reinsurance business in Japan.
SCOR has had a presence in Japan since 1983 when SCOR set up Japan Liaison Office.
The establishment of this branch office in Japan is part of the Group's "Vision in Action" strategic plan to expand and deepen its franchise, and clearly demonstrates the Group's commitment to the Japanese market.
The new Japanese branch will focus on delivering innovative products, underwriting, claims and risk solutions to the Life and Health market (First and Third Sector product lines in Japan) and will leverage on SCOR's expertise, particularly in Long-Term Care, Critical Illness, other health products and distribution solutions.
Paolo De Martin, Chief Executive Officer of SCOR Global Life, comments: "We welcome the approval granted by the Financial Services Agency of Japan to open a SCOR Global Life branch office in Tokyo. The opening of the branch will enable us to deliver new and innovative solutions to support our customers in the Japanese life market."
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Contact details
Marie-Laurence Bouchon
Group Head of Communications
+33 (0)1 58 44 75 43
Ian Kelly
Head of Investor Relations
+44 203 207 8561
Twitter: @SCOR_SE
Forward-looking statements
SCOR does not communicate "profit forecasts" in the sense of Article 2 of (EC) Regulation n°809/2004 of the European Commission. Thus, any forward-.looking statements contained in this communication should not be held as corresponding to such profit forecasts. Information in this communication may include "forward-looking statements", including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions and include any statement which does not directly relate to a historical fact or current fact. Forward-looking statements are typically identified by words or phrases such as, without limitation, "anticipate", "assume", "believe", "continue", "estimate", "expect", "foresee", "intend", "may increase" and "may fluctuate" and similar expressions or by future or conditional verbs such as, without limitations, "will", "should", "would" and "could." Undue reliance should not be placed on such statements, because, by their nature, they are subject to known and unknown risks, uncertainties and other factors, which may cause actual results, on the one hand, to differ from any results expressed or implied by the present communication, on the other hand.
Please refer to the 2016 reference document filed on 3 March 2017 under number D.17-0123 with the French Autorité des marchés financiers (AMF) posted on SCOR's website www.scor.com (the "Document de Référence"), for a description of certain important factors, risks and uncertainties that may affect the business of the SCOR Group. As a result of the extreme and unprecedented volatility and disruption of the current global financial crisis, SCOR is exposed to significant financial, capital market and other risks, including movements in interest rates, credit spreads, equity prices, and currency movements, changes in rating agency policies or practices, and the lowering or loss of financial strength or other ratings.
The Group's financial information is prepared on the basis of IFRS and interpretations issued and approved by the European Union. This financial information does not constitute a set of financial statements for an interim period as defined by IAS 34 "Interim Financial Reporting".
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