Scor SE

Business and Financial Review • Jul 22, 2010

Press Release (p.1/2) 22 July 2010 N° 20 – 2010

Co For further information, please contact: Géraldine Fontaine +33 (0)1 46 98 75 33 Communications and Public Affairs Antonio Moretti +44 (0) 203 207 8562 Investor Relations Director

SCOR records excellent half-year Non-Life treaty renewals

P&C and Specialty treaty renewals at end of June have resulted in premium growth of 19% at constant exchange rates, whilst fully respecting the technical underwriting profitability criteria. These renewals related to around 10% of the total annual volume of treaty premiums. They are evidence of SCOR Global P&C's strengthened competitive position, its repositioning in the USA, Australia and South Africa and improved conditions in certain regions (such as Latin America) and in certain business lines (such as credit & surety and energy).

Key takeaways of these renewals:

• Î The geographic rebalancing of P&C treaties towards the Americas and Asia-Pacific continues, with an increase in premiums underwritten in the USA in the regional business segment excluding natural catastrophes segment (+67%), in Australia (+32%), in Latin America (+12%, excluding Caribbean), in South Africa (+28%) and in the Middle East (+22%). The underwriting policy focusing on short-tail risks is continued.
• Î Specialty treaties have also experienced volume growth of 15%, thanks to share increases in sectors which benefit from favourable price conditions, such as credit & surety (+62%) and transport & energy (+46%), or those with stable conditions such as construction (+12%).
• Î Renewal conditions follow cycles which are fragmented by sector and market, and reinsurance prices remain disciplined despite certain over-capacities; this results in significant increases in sectors and markets affected by losses and limited reductions elsewhere, although to a greater extent in US natural catastrophe business in which financial market competition plays a part. In this context, SCOR has seen a weighted average price increase on its renewed business of nearly 1%, illustrating the dynamic management of the portfolio and contributing to the continued improvement of the expected technical profitability.

Victor Peignet, CEO of SCOR Global P&C, comments: "These renewals demonstrate the dynamism of SCOR's underwriting teams and the confidence of their clients. They are truly excellent. With this success at the third key renewal date of this year after those of 1/1 and 1/4, we are confident that we will achieve the overall premium levels indicated earlier in the year in our January 2010 renewal presentation. Even more importantly, the underlying profitability of the underwritten business, on a normalized cat budget, is in line with the communication given in January."

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 1 457 885 613,93 euros

In EUR millions, rounded up or down	Premiums up for renewal	Renewed premiums	% change
P&C treaties	105	128	+ 21.9 %
Specialty treaties	102	117	+ 14.7 %
Total	206	245	+ 18.9 %

Definitions

• Total premiums up for renewal: premiums of all Treaty contracts incepting in July 2010 (including those of 30 June) at the exchange rate as at 31 December 2009;

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• Cancelled/restructured: client or SCOR decides to cancel the business/programs and/or to change their programs (e.g. from proportional to non-proportional);
• New business with existing clients: existing client decides to place new business/programs and/or to change their programs (e.g. from proportional to non-proportional);
• New clients: acquisition of new clients;
• Share variation: client or SCOR decides to reduce or increase the share participation in one or more of its treaties;
• Total renewed premiums: premiums of all Treaty contracts incepting in July 2010 at the exchange rate as at 31 December 2009.

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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 3 March 2010 under number D.10-00085 (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 1 457 885 613,93 euros