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2015-09-07

Scor: SCOR achieves a major milestone with Standard & Poor's upgrade to "AA-"

Press Release

7 September 2015 - N° 24
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 achieves a major milestone

with Standard&Poor's upgrade to "AA-"

Standard&Poor's (S&P) has upgraded SCOR's Insurer Financial Strength rating to
'AA- stable outlook' from 'A+ positive outlook' and raised the Group
counterparty credit ratings to 'AA-/A-1+' from 'A+/A-1'.

S&P notably mentions having taken into account the fact that "the Group has
demonstrated its very strong competitive position through
resilience in pricing and technical profitability in its P&C book and has
reinforced its leading position in the U.S. Life reinsurance market
."

In addition, the rating agency also highlights the fact that"SCOR continues to
exhibit strong and stable earnings that should sustain
extremely strong capital adequacy through 2017."

In the current reinsurance market environment, S&P emphasises that the Group
"hassuccessfully withstood pricing pressures in the buyer's market in the P&C
reinsurance industry", adding that SCOR "has also been able to defend its
market share in the consolidating reinsurance sector thanks to prudent risk
management and pricing discipline."

With regard to SCOR's franchise, S&P considers that"the Group's very strong
business risk profile is further supported by a
leading market share in significant markets in both the P&C and Life
markets."

Denis Kessler, Chairman and CEO of SCOR,
comments:"We are absolutely delighted with this decision by S&P. The upgrade
of our
rating to AA- demonstrates the pertinence of SCOR's business strategy, which
continues to withstand the current macroeconomic and market environment.
This upgrade confirms SCOR as a Tier 1 global reinsurer. We are thus
approaching the renewal period starting with the Monte-Carlo rendez-vous
under very good conditions, with our
teams more motivated than ever to provide our clients worldwide with
first-class P&C and Life reinsurance services
".

The press release by Standard&Poor's can be accessed via their homepage:
http://www.standardandpoors.com

*

* *

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 20 March
2015 under number D.15-0181 (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". 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".

SCOR Press Release
http://hugin.info/143549/R/1949993/708954.pdf

---------------------------------------

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Scor via Globenewswire

HUG#1949993

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