SCOR Press Release

Press Release
06 March 2015  - N° 07

Contact details

Marie-Laurence Bouchon
Group Head of Communications
+33 (0)1 58 44 76 10
mbouchon@scor.com

Bertrand Bougon
Head of Investor Relations
& Rating Agencies
+33 (0)1 58 44 71 68
bbougon@scor.com

www.scor.com    

Twitter: @SCOR_SE

SCOR has been informed of the signing of a purchase agreement by Sompo Japan Nipponkoa Holdings, Inc. (SOMPO), a Japanese insurance company, concerning the entire holding of Patinex AG in SCOR (i.e. 7.8% of SCOR's capital and 8.1% of its voting rights). SOMPO has declared that it wishes to increase this holding to 15%, subject to the receipt of the required regulatory approvals.

SCOR was not a party in this transaction.

SCOR thanks Martin Ebner and Patinex AG for their active support of the SCOR group since the 2007 combination of SCOR and Converium, and for their contribution to the Group's development.

SCOR, an independent company, welcomes SOMPO as a long-term shareholder with the same rights and duties as all its shareholders.

This holding has no impact on the strategic development of SCOR, which actively continues to implement its strategic plan "Optimal Dynamics", or on its corporate governance or management. SCOR will continue to serve all of its clients, in Japan and throughout the world, with the same level of professionalism, integrity and rigour that are the core of the Group's values.

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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 05 March 2014 under number D. 14-0117 (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".