French reinsurer SCOR is to establish an Irish reinsurance company to take advantage of current insurance market conditions and the year-end renewal period.
SCOR said Irish Reinsurance Partners (IRP) would be established with the help of private equity investors and would be dedicated to reinsuring part of SCOR's non-life business.
SCOR chairman and chief executive Jacques Blondeau said: "The creation of IRP will enable us to benefit to the full from the positive market conditions we foresee for year-end.
"It is an innovative solution to increase our underwriting capacity."
IRP will be based in Dublin. Its creation is subject to Irish regulatory approval.
