About SCOR

SCOR SE engages in life and non-life reinsurance businesses worldwide. The company offers property, casualty, and life reinsurance. Segments NON-LIFE REINSURANCE The Non-Life segment is divided into four operational sub-segments: P&C Treaties; Specialty Treaties; Business Solutions (facultative); and Joint Ventures and Partnerships. P&C Treaties This business sector underwrites proportional and non-proportional reinsurance treaties. These contracts cover property damage, such as dwellings, industrial and commercial goods, vehicles, ships, stored or transported merchandise or operating losses caused by fires or other events, including accidents or natural catastrophes, as well as damages caused to third parties under civil liability coverage. Accordingly, these include treaties covering automobile liability and general civil liability. Auto liability covers property damage, injuries, and other risks arising from the coverage of both drivers and passengers in private vehicles and commercial fleets. Specialty Treaties The company's main specialty reinsurance activities include Credit & Surety, Ten-Year Inherent Defects Insurance, Aviation, Space, Marine, Engineering, Agricultural Risks, and Structured Risk Transfer. These include both treaties and facultative reinsurance. Credit & Surety: The reinsurance of credit insurance, surety commitments, and political risk is managed by teams primarily based in Europe. Under credit insurance, the insurer covers the risk of losses from the non-payment of commercial debts. Surety insurance is a contract under which a guarantor makes a commitment to a beneficiary to perform the obligation to ensure payment by or to pay the debt of the secured debtor. Political risk insurance covers the risk of losses due to measures taken by a government or similar entity which endangers the existence of a sales contract or commitment made by a public or private citizen of the country in which the covered operations are performed. Ten-Year Inherent Defects Insurance: Ten-Year inherent defects insurance covers major structural defects and the collapse of a building for ten years after completion. These risks are underwritten by proportional and non-proportional treaties as well as by facultative reinsurance. Aviation: Aviation insurance covers damages caused to aircraft, injuries to persons transported and to third persons caused by aircraft or air navigation, as well as losses resulting from products manufactured by companies in the aerospace sector. Space: Facultative and reinsurance treaties underwritten in the space sectors cover the launch preparation, the launch, and the orbital operation of satellites. This applies primarily to commercial telecommunication and earth observation satellites. Shipping (Marine): Insurance for shipping risks includes insurance for general property and liability for the ships and shipped merchandise, as well as for ship construction. Engineering: Engineering insurance, which is divided into construction all risks and erection all risks insurance, includes the basic property and casualty coverage and may be extended to the financial consequences of a delay in delivery (anticipated operating losses) caused by losses identifiable under the basic property and casualty coverage. Agricultural Risks: To address the risk and the coverage needs associated with agriculture, the company provides reinsurance solutions in the field of multiple peril crop insurance, aquaculture insurance, forestry insurance, and livestock insurance. Structured Risk Transfer: To cope with the reinsurance buyers ‘needs in transferring risk and to benefit from these changes by its field of activity, the company employs a global head of structured risk transfer who facilitates the knowledge transfer of structured products and associated risks throughout the organization. Business Solutions (facultative) The Business Solutions (facultative) business covers various insurable risks during construction and operation of industrial groups and service companies. It primarily consists of facultative reinsurance underwriting performed by specialized teams organized in an international network around two major divisions, natural resources and industrial & commercial risks covering five business sectors: energy & utilities, construction & major projects, industry, new technologies, and finance & services, completed by two ‘market units’ responsible for facultative reinsurance for the company’s insurance company treaty clients and alternative solutions for the transfer and financing of risks for the Business Solutions (facultative) clients, respectively. Business Solutions (facultative) is targeted at professional buyers seeking global risk financing solutions. Joint Venture and Partnerships This activity is allocated to coverage underwritten through joint ventures and partnerships, and, as of December 31, 2008, through Lloyd’s syndicates, GAUM (Global Aerospace Underwriting Managers Limited), and MDU (Medical Defence Union). LIFE REINSURANCE The Life Reinsurance segment includes life, health, and medical insurance and personal insurance, such as accidents, disability, illness, or incapacity. The Life insurance business of the company is primarily underwritten in the form of proportional treaties (quota share or surplus basis or a combination of both) and less frequently excess of loss per person basis or catastrophe excess of loss basis or stop loss basis. The main other classes of Life business underwritten are: Financing: The company's reinsurance services can also enable its clients to finance their development (product launching costs and portfolio acquisition). Disability: The purpose of Disability insurance is to mitigate the loss of income when the insured is totally or partially unable by reason of sickness or accident. Long-term Care: Long-term care (LTC) insurance covers policyholders unable to perform predefined activities of daily living, and as a result, need the constant assistance of another person on every occasion of daily life. The loss of autonomy is permanent and irreversible. The company offers long-term care reinsurance solutions on the French market. It also offers its products in Korea and Israel. Critical Illness: Critical Illness (CI) insurance pays a lump sum benefit, to be used at discretion, if the insured person suffers a serious condition and survives a defined period. The company offers critical illness insurance in the U.K. It also cross-sells into selected markets, such as Taiwan, Korea, and Sweden. Health: Health represents a portion of the company’s portfolio. It is written primarily in the Middle East with a book inherited from Converium, and small volumes in markets, such as France and Canada. Annuities: The company is present on the fixed annuity market in the U.S., as a reinsurer of IIC, a member of the company (IMSA certificate). The products provide either the performance of an index (often the S&P 500) with a zero percent floor or a fixed interest rate which are credited to the policyholder’s account value. Personal Accident: Personal accident is a cover provided by the company. A main source of business is ReMark, a subsidiary of the company, which provides direct distribution solutions to insurers, financial institutions, and affinity partners. ReMark designs and executes direct marketing programs. Principal Markets The company's principal markets include Europe, the Americas, and the Asia-Pacific. Acquisitions In October 2008, the company acquired 100% of the share capital and voting rights of Prevoyance Re and its Life and Health reinsurance subsidiary, Prevoyance et Reassurance. History SCOR SE was founded in 1970.