Japan Post Insurance and French reinsurer Scor have signed a memorandum of understanding on ceding underwriting risks linked to postal life insurance policies. Under the agreement, Scor will establish, invest in and operate a reinsurance vehicle that will assume underwriting risks held by both companies, providing risk diversification benefits. Japan Post Insurance will also invest in the vehicle to support its financial soundness. The parties plan to continue discussions on transaction details, with completion subject to final agreement and regulatory approvals.
JAPAN POST INSURANCE Co., Ltd.Japan Post Insurance will invest in the reinsurance vehicle, supporting its financial soundness and risk diversification.
SCOR SEScor will establish, invest in and operate the reinsurance vehicle, generating new business and fee income.