AI Terminal

MODULE: AI_ANALYST
Interactive Q&A, Risk Assessment, Summarization
MODULE: DATA_EXTRACT
Excel Export, XBRL Parsing, Table Digitization
MODULE: PEER_COMP
Sector Benchmarking, Sentiment Analysis
SYSTEM ACCESS LOCKED
Authenticate / Register Log In

Scor SE

Regulatory Filings Apr 7, 2010

1653_iss_2010-04-07_fabe3668-9825-4152-90aa-e2c456b38282.pdf

Regulatory Filings

Open in Viewer

Opens in native device viewer

Press release (p.1/2) 07 April 2010 N° 11 – 2010

Co For further information, please contact: Sylvain Fort / Géraldine Fontaine +33 (0)1 46 98 73 17 Communications and Public Affairs Antonio Moretti +44 (0) 203 207 8562 Investor Relations Director

SCOR obtains a composite reinsurance licence in China, enabling it to add Life & Health reinsurance services to its existing non-Life activities

The China Insurance Regulatory Commission (CIRC) has granted SCOR SE a composite licence that will henceforth enable the Group to extend its current Non-Life activities to Life & Health business in China. SCOR was approved by the CIRC to conduct Non-Life reinsurance business in October 2006 and began underwriting in 2008.

In January 2010, SCOR increased the capital of its Beijing branch from EUR 20 million to EUR 31 million, with the approval of the CIRC.

SCOR SE's branch in China is run by Mr. Yu Wei Dong. SCOR SE's Life & Health activities in China will be headed by Mrs. Zhao Zeying.

Denis Kessler, Chairman and Chief Executive Officer of SCOR, comments: "SCOR has been present in China for more than 35 years. Thanks to this composite licence granted by CIRC, SCOR will be able to further develop its Life & Health activities in this key market. The Chinese Life & Health insurance market is expanding very rapidly, which will lead to a strong increase in the demand for Life & Health reinsurance. With the extension of its existing licence to Life & Health, SCOR is well positioned to benefit from this growth, by providing its Chinese clients with expertise in terms of innovation, capital management and risk selection."

* * *

Mrs. Zhao Zeying, a French citizen, is a former student of the Chinese Economic Institute and a graduate of both the Sorbonne University and the CNAM/ENAss. She began her career in 1994 at the French Federation of Insurance Companies (FFSA) in the Economic, Finance and International Affairs department, where she was in charge of promoting the development of French insurers and reinsurers in the Chinese market and emerging countries. She then became a lobbyist at the European Parliament, defending the interests of the French insurance and reinsurance market. In 2007, she joined the marketing department of SCOR Global Life in Paris, before joining the Asian department in August of the same year. Since September 2007 Zhao Zeying has been SCOR Global Life's Chief Representative at the SCOR Group's representative office in Beijing.

* * *

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

Press release (p.2/2) 07 April 2010 N° 11 – 2010

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.

Additional information regarding risks, uncertainties and pending litigations is set forth in the 2009 reference document registered with the AMF under number D.10-0085 ("Document de Référence") and subsequently updated in the half year report, both available on SCOR website www.scor.com. 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

Talk to a Data Expert

Have a question? We'll get back to you promptly.