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SCOR : SCOR embraces new technology with Blockchain tests

6 February 2017 - N° 03

SCOR embraces new technology with Blockchain tests

In September 2016 SCOR started to test Blockchain technology, which is
essentially a secured distributed database (ledger) shared by all parties to
an exchange, and launched a Technical Accounting Blockchain Proof of Concept
(PoC) to assess the feasibility of using Blockchain technology to enhance the
Ruschlikon[1]initiative. The test is described in thisvideo.

SCOR is very pleased with the results of these tests, which demonstrate that
Blockchain technology (i) is agile and quick to implement, (ii) simplifies
and accelerates interaction, with real-time status simultaneously shared by
the business partners involved, and (iii) has the potential to efficiently
reduce costs.

To further explore the potential use of distributed ledger technology for the
insurance industry, SCOR has joined the Blockchain Insurance Industry
Initiative B3i. Since its launch in October 2016, the initiative has gained
broad attention across the industry and beyond, while achieving a truly
global scope with additional members joining from Asia, Europe and the
Americas. The current 15 members of B3i are Achmea, Aegon, Ageas, Allianz,
Generali, Hannover Re, Liberty Mutual, Munich Re, RGA, SCOR, Sompo Japan
Nipponkoa Insurance, Swiss Re, Tokio Marine Holdings, XL Catlin and Zurich
Insurance Group.

In a collaborative effort, members of the B3i initiative will explore the
ability of distributed ledger technologies to increase efficiencies in the
exchange of data between reinsurance and insurance companies. In order to
realize a proof-of-concept, the participating members will implement a pilot
project aimed at transacting reinsurance contracts with each other. If
Blockchain technology proves to be a viable tool, it could transform the
insurance industry through a shared, transparent record of contract-related
information. Streamlining communication and transactions would subsequently
improve industry processes and provide better insurance services to
customers. The Blockchain Insurance Industry Initiative B3i intends share
first results in June 2017.

Denis Kessler, Chairman&Chief Executive Officer of SCOR, comments:
"SCOR's role as a global Tier 1 reinsurer is to experiment and test
cutting-edge technology like Blockchain. The success of the Proof of Concept
conducted by SCOR on Blockchain, along with the work of the B3i members on
this technology, will help to accelerate the digitalisation of the
(re)insurance sector, to the benefit of the whole industry."


* *

Contact details

Marie-Laurence Bouchon

Group Head of Communications

+33 (0)1 58 44 76 10

Ian Kelly

Head of Investor Relations

+44 203 207 8561

SCOR photo gallery


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 2015 reference document filed on 4 March 2016 under number
D.16-0108 with the French Autorité des marchés financiers (AMF) posted on
SCOR's website (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".

[1]Ruschlikon is a global community of insurers, brokers and reinsurers. Its
primary purpose is to optimize administrative costs and enhance client
services. Ruschlikon aims to further automate back office processes by
implementing the ACORD standard messages for technical accounts, claims and
financial accounts, along with the Ruschlikon Best Practice Processes. The
Ruschlikon initiative brings together more than 50 companies, its Steering
Group is composed of AIG, Aon Benfield, Guy Carpenter, Lloyd's, Munich Re,
SCOR, Swiss Re, Willis Towers Watson, XL Catlin.

SCOR Press Release

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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

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