June 27, 2008 12:13 ET

SCOR establishes Asia-Pacific Hub

PARIS--(Marketwire - June 27, 2008) - SCOR establishes Asia-Pacific Hub

SCOR rolls out the structure of its Singapore Hub, the regional headquarters of the Asia-Pacific and South Asia operations with network offices in Japan, Korea, China, Hong Kong, Taiwan, Malaysia, India and Australia.

SCOR is now structured around six Hubs: Paris, Zurich, Cologne and London for Europe, Singapore for Asia-Pacific and New York for the Americas. The Group's decision to opt for a Hub structure follows the successful consolidation of Revios and Converium. It takes full advantage of the strengths of the Group network. The new structure is based on the principle that each Hub has local, regional and global responsibilities both at the Divisional level (Global P&C and Global Life) and the Group level.

Hub managers:

Ben Ho is the Managing Director of the Hub. He will be SCOR's representative in the Asia-Pacific and South Asia regions for all corporate matters relating to the Group, encompassing SCOR SE and the two operational entities of SCOR Global P&C SE and SCOR Global Life SE. Thomas Wong is the Head of Accounting Services of the Hub and Angie Lim heads the Human Resources Department. Andrew Teng acts as the Chief Information Officer and Linda Sew as Head of Compliance, Internal Controls and Risk Management.

The Singapore Hub provides back-office support including technical accounting, financial accounting, claims processing, consolidation reporting packages, human resources and IT system management to the eight offices located in different countries in Asia-Pacific and India.

Property & Casualty - regional responsibilities of the Hub:

Michel Blanc has been appointed Head of P&C Treaty for Singapore Hub, reporting to Yvan Besnard, Worldwide Treaty P&C Chief Underwriting Officer and member of the SCOR Global P&C Executive Committee. Reporting to him are the following regional managers: Lai Kim Teo and Richard Goh for Singapore, Indonesia and Thailand; Din Merican for Malaysia; Cyril Empeigne for India, Pakistan, Bangladesh and Sri Lanka; George Leung for Hong Kong, Taiwan and the Philippines; Min Wu for China; Piotr Nowakowski for Japan; Jeong San Kim for Korea; and Christoph Spichtig for Australia and New Zealand.

Daniel Chui is Regional Head of Business Solutions, and Kevin Knoer his Deputy, reporting to Emmanuel Fierens, Worldwide Chief Underwriting Officer for Business Solutions.

Life & Health - regional responsibilities of the Hub:

The regional managers reporting to Ollivier Goualou, Life General Manager for Asia, are: Maurice Piault for Japan, Korea and Thailand; Fook Kong Lye for China, Taiwan and Hong Kong; and Lawrence Yew for Singapore, Malaysia, Indonesia, Philippines and India. Also reporting to Ollivier Goualou, Eric Pooi is the Life Principal Officer in charge of Business Reporting, Technical Accounting, Underwriting & Claims and Actuarial pricing.

Global Group responsibilities carried out from the Hub:

Din Merican and Lawrence Yew are respectively Head of ReTakaful Islamic P&C and Life reinsurance business servicing the Takaful clients worldwide.

François de Varenne, Group Chief Operating Officer of SCOR, comments: "The Asia-Pacific region is tremendously important to SCOR. In large, fast-growing economies like China, we have been establishing branch as part of our comprehensive effort to further develop our market activities. Recently we have re-established our presence in Australia by re-activating the branch operation. In Japan, Korea, Hong Kong and Taiwan, SCOR has a long tradition of servicing clients. The Asia-Pacific Hub based in Singapore will help us to efficiently catalyze all these varying efforts in this vast region."

With the Cologne, London, New York and Singapore organisational structures now firmly in place, SCOR intends to apply similar structures to its other worldwide Hubs in Zurich and Paris.

Forward looking statements

SCOR does not communicate "profit forecasts" in the sense of Article 2 of (EC) Regulation n degrees809/2004 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 SCOR's document de référence filed with the AMF on March 28, 2008 under number D.08-0154 (the "Document de Référence"), for a description of certain important factors, risks and uncertainties that may affect the business of the SCOR Group.

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Contact Information

  • For further information, please contact:

    Beat Werder
    +33 (0)1 46 98 71 39
    Chief Communications Officer

    Marco Circelli
    +33 (0)1 46 98 72 17
    Head of Investor Relations