Scor SE

M&A Activity • Dec 4, 2013

SCOR Global Life completes innovative longevity transaction in the Netherlands

SCOR Global Life, a subsidiary of SCOR SE, has entered into an innovative longevity transaction with the Netherlands-based insurer Aegon.

This is one of the first longevity transactions to be completed in continental Europe and confirms SCOR's pioneering role in this emerging and important market. Leveraging SCOR's UK longevity success in other markets is an important initiative in the Group's "Optimal Dynamics" plan, and today's transaction marks an important step in this direction.

The transaction covers underlying longevity reserves in the Netherlands of EUR 1.4 billion. It has a maturity of 20 years with a commutation reflecting an estimation of the remaining exposure at year 20. SCOR is taking a leading role with a 50% share in reinsuring the residual trend risk.

The effective date of the transaction is 1 January 2013. Société Générale is acting as intermediary in this deal and RMS (Risk Management Solutions) is the modelling agent for the commutation element.

Gilles Meyer, CEO of SCOR Global Life, comments: "This innovative longevity transaction is fully consistent with SCOR 's risk appetite. It satisfies our Group profitability criteria and shows our drive to develop innovative solutions together with our clients. With this deal, we aim to contribute to the development of the longevity market in the Netherlands and other selected markets in continental Europe and to confirm our leading position in this nascent yet important market."

Denis Kessler, Chairman and Chief Executive Officer of SCOR, comments: "This transaction is a good example of what the SCOR Group stands for. It is the outcome of innovation as well as the partnership approach we seek to achieve with our clients, and it also makes sense for our shareholders. It is an early ratification of the challenging objectives we set in our "Optimal Dynamics" three year plan."

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SCOR SE 5, avenue Kléber 75795 Paris Cedex 16 France Tél + 33 (0) 1 58 44 70 00 Fax + 33 (0) 1 58 44 85 00 www.scor.com RCS Paris B 562 033 357 Siret 562 033 357 00046 Société Européenne au capital de 1 512 224 741,93 euros

For more information, please contact: Géraldine Fontaine +33 (0) 1 58 44 75 58 Communications and Public Affairs

Antonio Moretti +33 (0) 1 58 44 77 15 Investor Relations Director

Press Release (p.2/2) 04 December 2013 N° 37 – 2013

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 SCOR's Document de référence filed with the AMF on 6 March 2013 under number D.13-0106 (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 Fax + 33 (0) 1 58 44 85 00 www.scor.com RCS Paris B 562 033 357 Siret 562 033 357 00046 Société Européenne au capital de 1 512 224 741,93 euros