SOURCE: SCOR

November 06, 2007 13:42 ET

SCOR : SCOR wins 'General Reinsurer of the Year' award in Asia

--(Marketwire - November 6, 2007) -


N degrees 53 - 2007

SCOR wins 'General Reinsurer of the Year' award in Asia

At this year's prestigious Asia Insurance Industry Awards 2007, organized in conjunction with the 9th Singapore International Reinsurance Conference and Asia Insurance Review and The Review, SCOR was awarded the first prize in the main category 'General Reinsurer of the Year'.

"The French reinsurer's close focus on the Asian market, as demonstrated by its investments in key growth areas, together with its underwriting expertise and high level of corporate governance" were mentioned as the key factors for winning the prize. The judges also referred to the company's 'remarkable comeback story'. SCOR was further praised for the Group's Business Solutions unit, which is widely recognised as one of the leaders in the facultative market in risk assessment and underwriting large corporate/industrial risks.

Mr. Ben Ho, Chief Underwriting Officer for Asia-Pacific Treaty business commented: "Asia is a key market for SCOR where we have made significant investments over the last few years, recognising the importance of this fast-growing market. We are extremely proud that this major award has now been given to SCOR. The award is an important recognition of our efforts in the region, which will continue to grow in the future."

SCOR's first overseas office was set up in Hong Kong in 1972. Today, as part of its 48 offices around the world, SCOR operates a comprehensive network within the Asia-Pacific region, with offices in Hong Kong, Singapore, Japan, Korea, Australia, Malaysia, China and India. The company employees around 100 staff across the region. Singapore is one of the five key hubs within the SCOR network besides Paris, Zurich, Cologne and New York.

SCOR obtained the Chinese regulator's approval at the end of last year to set up a Property & Casualty branch office in China. The Indian representative office was set up in 2005. Earlier this year SCOR obtained a Retakaful licence in Labuan, Malaysia, in order to serve the market's increasing appetite for Shariah-compliant insurance polices. In 2006, roughly 7% of SCOR's total Gross Written Premiums originated in the Asia- Pacific markets.

The awards ceremony was held at The Shangri-La Hotel in Singapore.

Forward looking statements

SCOR does not communicate "profit forecasts" in the sense of Article 2 of (EC) Regulation n degrees809/2004 of the European Commission. Thus, any forward looking statements, contained in this paragraph, 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 April 10, 2007 under number D.07-0294, as updated by the seconde note complémentaire registered with the AMF on June 12, 2007 under registration number 07-183, for a description of certain important factors, risks and uncertainties that may affect the business of the SCOR Group.

For further information, please contact:
Beat Werder +33 (0)1 46 98 71 39
Chief Communications Officer
Marco Circelli +33 (0)1 46 98 72 17
Head Investor Relations

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