A U.S. reinsurer with a European parent is trying to do more to crack the European life reinsurance market.
Transamerica Reinsurance, Charlotte, N.C., says it has opened a branch office in Paris and hopes the office will help it profit from trends such as the aging of the European workforce and a future shift to new “Solvency II” insurer solvency rules.
Transamerica Re is a unit of Transamerica Occidental Life Insurance Company, Los Angeles, which, in turn, is a unit of AEGON N.V., The Hague, Netherlands.
The Transamerica Re Paris office will sell risk-management, financing, product development and distribution services to European Union life insurers, Transamerica Re says.
Transamerica Re opened an EU affiliate, Transamerica International Reinsurance Ireland Ltd., in Dublin in 2002.
Transamerica Occidental will underwrite any new reinsurance business that the Paris office writes, Transamerica Re says.
Paris office executives will include Patrick Sabau, who has worked for Scor S.A., Paris, and R?jean Besner, who has been chief actuary for the international division at Transamerica Re’s office in Charlotte.
Besner represents the Society of Actuaries, Schaumburg, Ill., on the reinsurance committee of the International Actuarial Association, Ottawa, Canada.