Scor SE

Capital/Financing Update • Jul 5, 2011

Press Release (p.1/2) 05 July 2011 N°20 – 2011

Co For further information, please contact: Jean-Charles Simon / Géraldine Fontaine +33 (0) 1 46 98 73 17 Communication and Public Affairs Antonio Moretti +44 (0) 203 207 85 62 Investor Relations Director

SCOR draws EUR 75 million on its contingent capital solution

SCOR has issued a EUR 75,000,000 drawdown notice under the contingent capital facility placed at its disposal by UBS since 1st January 2011.

This innovative contingent capital solution was put in place in December 2010 in order to diversify the SCOR group's means of protection, offering a competitive alternative to traditional retrocession through automatic completion of one or several share issuances when the aggregate amount of estimated net losses from natural catastrophes booked in a given year exceeds a pre-set threshold.

Based on the more robust information received regarding the exceptional Q1 2011 natural catastrophe events, SCOR will record an increase of the net pre-tax impact of these events in the range of EUR 10 to 15 million in its Q2 accounts and reach the threshold for activating the contingent capital.

SCOR estimates that the net pre-tax impact in its Q2 accounts of the natural catastrophes having occurred in Q2 will be contained within the 6 points of net combined ratio budgeted. In addition, given its retrocession in place, no further deterioration of the Q1 natural catastrophe events on a gross basis is expected to materially affect its net accounts.

The 2011 natural catastrophe activity validates SCOR's capital shield strategy and in particular the relevance of SCOR's decision to set up this innovative aggregate type of protection: today's drawdown allows the SCOR group to reinforce its equity capital by EUR 75,000,000 (issuance premium included).

In this context, UBS is required to exercise the number of warrants required for the issuance and subscription by it of new SCOR shares in an aggregate amount of EUR 75,000,000. These shares will be admitted to trading on the Euronext Paris regulated market immediately following their issuance and will be fully fungible with the existing SCOR shares. Upon exercise of the warrants, SCOR will inform the market of the number of new shares to be accordingly issued and their issue price.

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SCOR SE 1, av. du Général de Gaulle 92074 Paris La Défense Cdx France Tél + 33 (0) 1 46 98 70 00 Fax + 33 (0) 1 47 67 04 09 www.scor.com RCS Nanterre B 562 033 357 Siret 562 033 357 00020 Société Européenne au capital de 1 478 740 032 euros

No public offering

This announcement is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities and the transactions contemplated herein do not constitute a public offering in any jurisdiction, including France. Release, publication or distribution of this press release is forbidden in any country where it would violate applicable laws or regulations.

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 8 March 2011 under number D.11-0103 (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.

SCOR SE 1, av. du Général de Gaulle 92074 Paris La Défense Cdx France Tél + 33 (0) 1 46 98 70 00 Fax + 33 (0) 1 47 67 04 09 www.scor.com RCS Nanterre B 562 033 357 Siret 562 033 357 00020 Société Européenne au capital de 1 478 740 032 euros