Scor SE

Earnings Release • Mar 14, 2011

Press release (p.1/2) 14 March 2011 N° 09 – 2011

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

SCOR's preliminary view on the consequences of the Japanese natural catastrophes

SCOR has been working with the Japanese Market and dealing with its Japanese clients from the company and co-operative sectors since 1975. In line with the long term and strong business and personal ties it has with Japan, SCOR is fully committed to supporting its Japanese partners facing the consequences of the unprecedented devastating earthquake and tsunami that hit the country last week.

SCOR wishes to express its deep sympathy for the Japanese people, who are confronting this tragedy with dignity and courage, and will do its best to help its clients to cope with its consequences.

SCOR Group's employees in Japan – representing SCOR Global P&C, SCOR Global Life and ReMark – are all accounted for having safely lived through the earthquake and its many after-shocks in Tokyo. They are receiving assistance from all of their colleagues in the region and from the Group as a whole in order to keep operations running. A business continuity plan is in place to help our clients in Tokyo.

At this stage, SCOR is able to provide the following information:

• ‐ SCOR does not provide damage or liability cover to nuclear plant operators in Japan;
• ‐ In Japan, SCOR is involved in covering industrial and commercial risks as a reinsurer of domestic incorporated companies and also covers home owners as a reinsurer of the "Kyosai";
• ‐ In the worst-case scenario for the events of last week, SCOR estimates that its total P&C losses net of proportional and non-proportional protection, before tax, will not exceed EUR 185 million. SCOR's current view, based on the very preliminary and evolving available information, is that its final total loss from these events should be lower than this maximum amount;
• ‐ As far as Life reinsurance is concerned, SCOR has only marginal exposure;
• ‐ SCOR's investment portfolio has an exposure to Japan of below EUR 40 million (of which only EUR 13 million denominated in Japanese Yen), mainly in Japanese government bonds, and is not affected by this catastrophe;
• ‐ The potential consequences of these events do not alter SCOR's solvency.

SCOR is continuously monitoring the situation in Japan, and will provide updates as soon as they become available.

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

Press release (p.2/2) 14 March 2011 N° 09 – 2011

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