Scor has entered the US medical reinsurance market through its international life and health subsidiary, Scor Global Life.
The French reinsurer will initially offer reinsurance coverage for health maintenance organisations (HMO) and insurers. Subject to regulatory approval, Scor will also offer provider excess and employer stop loss insurance.
The business will be underwritten by General Security National Insurance Company (GSNIC), a wholly owned Scor affiliate.
The newly assembled team is overseen by Kelly Munger, who is also responsible for leading the company’s US group health reinsurance initiative.
“Kelly Munger was our first executive hire,” remarked Scor Global Life Americas CEO JC Brueckner.
“She leads our group reinsurance business unit and has done a superb job assembling a team of experienced professionals who understand the changes occurring in the market and who will work with brokers to develop customized solutions for their clients,” he added.
Scor's medical reinsurance operation is based in Minneapolis.
Commenting on the announcement, Scor Global Life CEO Paolo De Martin said: "This is a large market with significant demand for risk management solutions and expertise.”
"We made a comprehensive study of its potential and we believe we can effectively and successfully support the needs of existing and emerging market participants."