Scor SE

Legal Proceedings Report • Jul 12, 2016

Press Release 12 July 2016 - N° 13

SCOR welcomes the decision of the Paris administrative court in favour of the opening up of the natural catastrophe reinsurance market in France

SCOR commends the decision of the Paris administrative court, made public today, requiring the State to "terminate the agreement regarding the State's guarantee of the Caisse centrale de reassurance, […] insofar as the CCR's natural catastrophe reinsurance business is concerned, within one year", or, failing this, to notify the European Commission of the natural catastrophe reinsurance scheme within the same timefame. The European Commission will then have to rule on the scheme's compliance with European law.

The Paris administrative court has thus formally acknowledged the existence of State aid that renders the CCR's natural catastrophe reinsurance scheme illegal.

The SCOR group has been acting for many years to promote the opening up of the natural catastrophe reinsurance market in France, without calling into question the natural catastrophe insurance system itself, or the State's role as a reinsurer of last resort.

In its legal action, SCOR particularly objected to the exclusive nature of the State's backing of the CCR, which gives it a virtual monopoly with a share of over 90% of the French natural catastrophe reinsurance market.

The SCOR group firmly believes that this decision by the Paris administrative court will lead to improving the service provided to insurers and insureds, mobilise additional reinsurance capacity in the face of increasingly significant catastrophes, and reduce the exposure of the State budget and therefore of taxpayers in the event of a major natural catastrophe.

Drawing on its experience of covering natural catastrophes throughout the world, SCOR is at the disposal of the various stakeholders involved to help to define an alternative reinsurance system, in accordance with European law, that will enable the various companies concerned to operate on the natural catastrophe market in France alongside the CCR and the State, as has been the case for many years with regard to the reinsurance of terrorism.

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Press Release

12 July 2016 - N° 13

Contacts

Marie-Laurence Bouchon Directrice de la Communication +33 (0)1 58 44 80 62 mbouchon@scor.com

Bertrand Bougon Head of Investor Relations & Rating Agencies +33 (0)1 58 44 71 68 bbougon@scor.com

http://www.scor.com/ Galerie Photo SCOR Twitter : @SCOR\_SE

Forward-looking statements

SCOR does not communicate "profit forecasts" in the sense of Article 2 of (EC) Regulation n°809/2004 of the European Commission. Thus, any forward-.looking statements contained in this communication should not be held as corresponding to such profit forecasts. Information in this communication may include "forward-looking statements", including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions and include any statement which does not directly relate to a historical fact or current fact. Forward-looking statements are typically identified by words or phrases such as, without limitation, "anticipate", "assume", "believe", "continue", "estimate", "expect", "foresee", "intend", "may increase" and "may fluctuate" and similar expressions or by future or conditional verbs such as, without limitations, "will", "should", "would" and "could." Undue reliance should not be placed on such statements, because, by their nature, they are subject to known and unknown risks, uncertainties and other factors, which may cause actual results, on the one hand, to differ from any results expressed or implied by the present communication, on the other hand.

Please refer to the 2015 reference document filed on 4 March 2016 under number D.16-0108 with the French Autorité des marchés financiers (AMF) posted on SCOR's website www.scor.com (the "Document de Référence"), for a description of certain important factors, risks and uncertainties that may affect the business of the SCOR Group. As a result of the extreme and unprecedented volatility and disruption of the current global financial crisis, SCOR is exposed to significant financial, capital market and other risks, including movements in interest rates, credit spreads, equity prices, and currency movements, changes in rating agency policies or practices, and the lowering or loss of financial strength or other ratings.

The Group's financial information is prepared on the basis of IFRS and interpretations issued and approved by the European Union. This financial information does not constitute a set of financial statements for an interim period as defined by IAS 34 "Interim Financial Reporting".

SCOR SE 5, Avenue Kléber 75795 Paris Cedex 16, France Tél + 33 (0) 1 58 44 70 00 RCS Paris B 562 033 357 Siret 562 033 357 00046 Société Européenne au capital de 1 512 224 741,93 euros