Mukul Kishore, CEO, SCOR Global P&C, APAC
This is the first time an Indian has been appointed at such a senior level position of the fourth largest global reinsurer
In its India operations, Parag Gupta, chief underwriting officer(CUO) has been made the new CEO of the foreign reinsurance branch(FRB) while R Srinivasan will now be the new CUO of the company
Mumbai:
In a top level reshuffle in its Asia operations, French multinational reinsurer SCOR has promoted Mukul Kishore, chief executive officer(CEO), Indian Foreign Reinsurance Branch (FRB ) as head its Asia Pacific operations succeeding Christoph Spichtig, who has been promoted as deputy CEO, SCOR P&C Partners to be based in Zurich.
Kishore, an IIT Delhi graduate with over 30 years of experience in the Indian insurance industry, has been appointed as CEO, SCOR Global P&C, Asia Pacific since February 1.
This is the first time an Indian has been appointed at such a senior level position of the fourth largest global reinsurer.
Asia Pacific operations contributes almost 18 per cent to 19 per cent of SCOR’s €17.6 billion global premium from 160 countries in 2021.
Kishore, at present will be operating from Mumbai and will relocate to Singapore between April-June.
In its India operations, Parag Gupta, chief underwriting officer(CUO) has been made the new CEO of the FRB while R Srinivasan will now be the new CUO of the company.
Gupta has received the necessary regulatory clearance from the insurance regulator IRDAI on Thursday.
SCOR’s India operations has steadily grown since it was set up in 2017 and has emerged as the third largest FRB in India after Munich Re and Swiss Re by March 2021.
In 2020-21, its total reinsurance premium has grown by 16 per cent to Rs 1805 crore.
Out of the total Indian reinsurance business of Rs 44,333 crore in FY 2020-21, GIC Re accounted for 67.69 per cent (74.22 per cent in 2019-20) and remaining by 10 FRBs including SCOR.