SCOR looks to the future by enhancing its human capital

Press Release

September 5, 2018 - N° 20

SCOR looks to the future by enhancing its human capital

SCOR announces the following nominations across the Group.

Brona Magee is named Deputy CEO of SCOR Global Life and joins SCOR's Executive Committee

Brona Magee has been appointed Deputy CEO of SCOR Global Life and joins the Group's Executive Committee, effective September 5, 2018. She currently serves as Head of Client Solutions at SCOR Global Life and is a member of SCOR Global Life's Executive Leadership team. She replaces Simon Pearson, who is retiring early to pursue other interests. Simon will become the Senior Advisor to the SGL CEO from September 5, to ensure Brona Magee's smooth transition into her new role over the remainder of 2018.

Simon Pearson served as Deputy CEO of SCOR Global Life from 2014 onwards. He was also appointed Head of Global Markets in November 2017 and was a member of SCOR Global Life's Executive Leadership team as of 2006.

In her new role, Brona Magee will be responsible for Global Markets, overseeing the implementation of SCOR Global Life's strategy across all regions. She will also maintain responsibility for Client Solutions, ensuring that a suite of innovative solutions is available to SCOR Global Life's clients. She will remain based in Dublin.

As part of the new organizational structure announced on Investor Day, Sylvie Van Viet, Jean-Paul Conoscente, Umberto Gavazzi, Laurent Rousseau, Vincent Foucart and Adrian Jones assume new roles within SCOR Global P&C

As part of SCOR's Investor Day on September 5, 2018, SCOR Global P&C announces a new organizational structure focused on three key business areas - Reinsurance, Specialty Insurance and P&C Partners - as well as transverse functions.

Jean-Paul Conoscente and Umberto Gavazzi have been respectively appointed CEO and Deputy CEO of the Reinsurance business unit, which is the core business of SCOR Global P&C.

Sylvie Van Viet has been named CEO of the newly-created P&C Partners business unit. Vincent Foucart and Adrian Jones have been appointed Deputy CEOs of P&C Partners, respectively in charge of Alternative Solutions & Technical Development and P&C Ventures & Strategic Partnerships.

Laurent Rousseau has been named CEO of the Specialty Insurance business unit, in addition to being Deputy CEO of SCOR Global P&C and a member of the Group's Executive Committee.

SCOR reinforces its Group-level operations with the appointment of Xavier Savigny as Group Head of Human Resources and Transformation, and Michael Nguyen as Group Head of Operations Strategy & Project Office

Xavier Savigny brings a wealth of experience to SCOR - acquired throughout his career in the United States and in Europe - and shares the Group's firm belief that human capital is one of the most important keys to long-term success. As Group Head of Human Resources at SCOR, he will be responsible for implementing policies that reflect the evolution of Human Resources as a strategic function.

In his role as Group Head of Transformation, he will focus on enhancing the Group's operational efficiency, notably through organizational design.

Xavier Savigny will report to Romain Launay, Group Chief Operating Officer. He is based in Paris.

Michael Nguyen has been appointed Group Head of Operations Strategy and Project Office, reporting to Romain Launay, Group Chief Operating Officer. He is based in Paris.

As Group Head of Operations Strategy and Project Office, Michael Nguyen will craft and oversee SCOR's operations strategy from planning to execution. He will also lead the Group Project Office, which is tasked with governing the Group's strategic project portfolio and providing project management and internal consulting services.

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Denis Kessler, Chairman & Chief Executive Officer of SCOR, comments: "I would first like to sincerely thank Simon Pearson for his significant role in the successful development of SCOR Global Life since he joined the Group in 2006, and for his strong contribution to the Executive Committee since 2014. I am very pleased that Brona Magee is taking a leading role as Deputy CEO of SCOR Global Life and joining the Group's Executive Committee; she will be instrumental in continuing to advance the "Vision in Action" strategic plan. The nominations announced today underscore the depth and breadth of SCOR's internal talent and demonstrate our firm commitment to providing staff with continuous opportunities for growth and development. They reflect our strong focus on human capital, which Xavier Savigny will contribute to further develop."

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Biographies

Jean-Paul Conoscente, 52, an American and French citizen, is a graduate of the University of California Berkeley (Master of Science in Structural Engineering) and the Ecole des Travaux Publics, Paris (Engineering Diploma in Civil Engineering). He started his career in earthquake engineering in California and then in CAT Modelling as the European head of the Modelling firm EQECAT. He subsequently held several senior positions with AON Benfield as a reinsurance broker in London and Paris and then with AXA Re in Paris as the Global Head of Property. In 2008, he joined SCOR in New York as Chief Underwriting Officer for the Americas for SCOR Global P&C and helped transform SCOR's team and portfolio in the Americas. On January 1, 2016, he became CEO of SCOR's P&C U.S. Operations.

Vincent Foucart, 39, a French citizen, is a graduate of ENSTA (École Nationale Supérieure de Techniques Avancées), HEC (Ecole des Hautes Etudes Commerciales) and CHEA (Centre des Hautes Études de l'Assurance). He is also a Certified Financial Analyst and Actuary. He began his career at Société Générale in Asia, before joining the Allianz group in 2001 as an Investor Relations Officer. In addition to his functions he took on the management of the AGF Chairman's Office, adding the management of the long-term investments portfolio in 2006. In 2007, he became Managing Director of the asset management company Tocqueville Finance. He joined SCOR in 2009 as Manager of the Chairman's Office, before taking on the role of Group General Secretary. More recently, he contributed to the development of ILS Strategies for SCOR and in May 2014 took over the Alternative Solutions Specialty Line, acting as CUO. Since 2018, he has been a SCOR SE Board Member representing the Group's employees.

Umberto Gavazzi, 59, an Italian citizen, has a degree in Information Systems from the Polytechnic University of Milan, with a specialization in Enterprise Management. He also holds an MBA (International Executive Programme) from INSEAD in Fontainebleau, France. He has more than 30 years of insurance and reinsurance experience, having started his career back in 1984, first as a broker and then as a property insurance underwriter. He moved into reinsurance in 1987, and joined the SCOR group in 1988 where, as a treaty underwriter, he was in charge of various European markets. In 1993 Umberto joined SCOR Canada in Toronto, where he held various corporate functions and was in charge of developing new business opportunities. In 1995 he moved to the Paris headquarters, becoming the Group's Financial Controller. He moved back to Milan in 1998 to become the CEO of the local subsidiary of SCOR. Since 2005, Umberto has headed the EMEA Region within the Treaty unit of SCOR Global P&C and in 2015 he became Worldwide Treaty Chief Underwriting Officer.

Adrian Jones, 38, is a U.S. citizen and a graduate of Columbia (MBA) and Wharton (BSEc). He joined the insurance industry at Bain & Company, where he spent nine years as a consultant in the U.S. and Europe. From 2010 to 2016, he was Head of Strategy at RenaissanceRe Holdings Ltd, based in Bermuda. As Head of Strategy & Development at SCOR Global P&C since 2016, he founded SCOR P&C Ventures and is responsible for P&C InsurTech. He is a Director of States Title, Inc.

Brona Magee, 43, an Irish citizen, holds a Bachelor of Actuarial and Financial Studies degree from University College Dublin. From 2006 to 2011 she worked for Transamerica International Reinsurance Ireland, which was acquired by SCOR in 2011. She became CFO for SCOR Global Life Reinsurance Ireland from 2011 to 2013. In 2013, Brona moved to the United States to take the position of Chief Financial Officer, Americas at SCOR Global Life and in 2015 was promoted to Deputy Chief Executive Officer, Americas. In February 2017 she returned to Dublin and became Chief Actuary for SCOR Global Life. She was appointed Head of Client Solutions and a member of SCOR Global Life's Executive Leadership Team in November 2017. Brona is a Fellow of the Society of Actuaries in Ireland.

Michael Nguyen, 40, a French citizen, is a graduate of Mines ParisTech and HEC and holds an MBA from INSEAD. He started his career in corporate strategy and M&A in 2002 for the Airbus Group. From 2005 onwards, he held various management positions in the digital and technology areas for large global groups, including Bouygues and AXA. He joined SCOR in 2016 as Head of Management and Control.

Laurent Rousseau, 39, a French citizen, is a graduate of HEC (Ecole des Hautes Etudes Commerciales). He started his career in 2001 as an equity analyst at Credit Suisse First Boston in London, covering European insurers and reinsurers. In 2005, he joined J.P. Morgan in the insurance Investment Banking team, executing M&A, capital raising and restructuring transactions for European insurers and reinsurers. He joined SCOR in 2010 as Advisor to the CEO, and became Head of SCOR Global P&C's Strategy and Business Development in 2012. In July 2015, Laurent became Chief Underwriting Officer of SCOR Global P&C's treaty business in Europe, Middle East & Africa. In April 2018, he was appointed Deputy Chief Executive Officer of SCOR Global P&C and a member of the Group's Executive Committee.

Xavier Savigny, 48, a French citizen, holds an MSc in Chemical Engineering from Compiègne University (France) and a Master's Degree in Human Resources from ESSEC Business School (France). He began his career with Otis in France, where he held various positions of increasing responsibility in Human Resources, up to worldwide Compensation & Benefits Manager. In 2001, he rejoined Otis as Director of Compensation & Benefits. In 2003, he was promoted to Human Resources Director for North Europe, expanding his responsibility successively to Eastern Europe in 2004 and Africa in 2009. In 2010, he was appointed Group Human Resources Vice President, based in the United States. In 2012, he joined Bureau Veritas as Human Resources Vice President for the South Europe Zone of the Industry & Facilities Division, becoming Executive Vice President, Group Human Resources in 2014.

Sylvie Van Viet, 57, a French citizen, graduated in private law and has a postgraduate degree in insurance law. She joined SCOR in 1997 and was Head of the Retrocession and Risk Control Accumulation department, before becoming deputy European manager in 2004. In 2005, she became Head of Underwriting Management. Since 2012, she has been Head of Underwriting Management and Retrocession at SCOR Global P&C.

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Contact details

Marie-Laurence Bouchon
Group Head of Communications
+33 (0)1 58 44 75 43
mbouchon@scor.com

Ian Kelly
Head of Investor Relations
+44 (0)203 207 8561
ikelly@scor.com

http://www.scor.com/

Twitter: @SCOR_SE

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 the 2017 reference document filed on February 23, 2018, under number D.18-0072 with the French Autorité des marchés financiers (AMF) posted on SCOR's website www.scor.com (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".