4.4 Legal risk - Scor

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BIODIVERSITY PROTECTION formation required by the decree n°2012-5 14- Measures taken to preserve and develop biodiversity Description and 2012 Data Not material due to the nature of the activity (i.e. financial services); the direct impacts of which on biodiversity is insignificant. Scope N/A Main indicators and coverage ratio in percentage of SCOR’s total workforce Indicator Unit Data 2012 Coverage(1) Energy (2) kWh 15,203, 886 84% Water m 3 29, 949 69% Sorted and recycled “paper waste” kg 151, 955 84% Air transportation km 31, 640, 521 95% Rail transportation km 1, 337, 551 85% Greenhouse Gas Emissions TeqCO 2 18, 479 (1) coverage rate calculated on the basis of hubs response rate (in terms of employees without taking into account entities excluded from the scope) (2) of which electricity (66%), fuel and gas (11%), other heating source (7%) and other cooling source (16%) 418
5 INFORMATION RELATED TO SOCIETAL COMMITMENTS IN SUPPORT OF SUSTAINABLE DEVELOPMENT The information below, which relates to the Group’s societal commitments in favour of sustainable development, are presented in accordance with the regulatory provisions set out in Article 225 of the law on France’s national commitment to the environment. The sections are presented in the same order as Decree n° 2012-557 of 24 April 2012 relating to the transparency obligations of companies in social and environmental terms. Unless otherwise specified, this information covers the Group and its direct impacts. 5.1 TERRITORIAL, ECONOMIC AND SOCIAL IMPACT OF SCOR’S ACTIVITIES In terms of employment and regional development Generally not significant in view of location in urban areas and size of the sites used by SCOR SE and its subsidiaries in France and abroad, the direct impacts of which are diluted in terms of the regional job pool and regional development. On neighbouring and local residents Not applicable in view of the location and nature of the sites used by SCOR SE and its subsidiaries in France and abroad. 5.2 RELATIONSHIPS BETWEEN THE GROUP AND PEOPLE AND ORGANISATIONS CONCERNED BY THE COMPANY’S ACTIVITIES, PARTICULARLY NON-PROFIT EMPLOYMENT AGENCIES, EDUCATIONAL ESTABLISHMENTS, ENVIRONMENTAL PROTECTION AGENCIES, CONSUMER ASSOCIATIONS AND NEIGHBOURING RESIDENTS Conditions for dialogue with these people or organisations Aside from its employees, for whom the conditions for dialogue are set out in paragraph 3.3.2- Social relations of this document, SCOR maintains relationships with a diverse range of stakeholders directly concerned by the SCOR group’s activities. These stakeholders notably include: • shareholders and investors, • clients and reinsurance brokers, • financial and non-financial rating agencies, • national supervisory authorities for the insurance and reinsurance industries in countries in which the Group has subsidiaries (e.g. Autorité de Contrôle Prudentiel - France, Financial Services Authority – United Kingdom, Monetary Authority of Singapore - Singapore, Central Bank of Ireland - Ireland, Autorité Fédérale de Surveillance des Marchés Financiers – Switzerland), • professional associations representing the interests of the insurance and reinsurance industry (e.g. Fédération Française des Sociétés d’Assurance, Association professionnelle de la réassurance in France, American Council of Life Insurers, Reinsurance Association of America, South African Insurance Association, Canadian Life and Health Insurance Association, CFO Forum, Reinsurance Advisory Board), • non-governmental institutions such as the United Nations Programme for the Environment via its financial initiative, and the United Nations Global Compact. SCOR has implemented a number of different means by which to communicate with the stakeholders mentioned above, which are tailored to the nature of the relationships held with those stakeholders (e.g. information letters, regular meetings, participation in working groups, client events on various different topics including the technical aspects of reinsurance, transmission of information on demand, production of regulatory reports). Generally speaking, when such practices are not laid down by regulatory provisions, the Group does its utmost to adopt the best practices identified in the corresponding countries. In addition to the stakeholders mentioned above and aside from the relationships maintained with a number of institutions, in the context of partnerships concluded in the interests of promoting actuarial science (e.g. Institut des Actuaires in France, Istituto Italiano degli Attuari - Università Cattolica de Milan in Italy, Heriot Watt and CASS Universities in the UK), SCOR is making a particular effort to establish relationships with educational establishments. In France in particular, SCOR is involved in financing establishments through the payment of an apprenticeship tax to schools or establishments operating work-study programmes. Each year, SCOR welcomes apprentices and young interns who occupy technical or administrative functions. 419
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NOTICE Certain statements contained
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1 Person responsible 8 1.1 Name and
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13 Profit forecasts or estimates 11
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8 PERSON RESPONSIBLE
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1 PERSON RESPONSIBLE 1.1 Name and t
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2.1 Auditors 13 2.2 Resignation or
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14 SELECTED FINANCIAL INFORMATION
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3 GROUP KEY FIGURES (UNDER CURRENT
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4.1 Risk related to the business en
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claims or surrenders of policies th
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B. Life reinsurance The main catego
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statutory reserve requirements or h
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B. SCOR is exposed to Guaranteed Mi
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4.1.9 FINANCIAL RATINGS PLAY AN IMP
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and amortization expenses related t
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F. Deposits with custodians As part
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4.2.2 SCOR FACES RISKS RELATED TO I
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Details of intangible assets, relat
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4.4.2 INCONSISTENT APPLICATION OF E
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See “Appendix B - II. Internal co
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5.1 History and development of the
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proportion of the voting rights hel
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Gerling Global Re Group, which deve
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5.2 Investments 5.2.1 PRINCIPAL INV
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6.1 Primary activities 53 6.2 Princ
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The targets of the strategic plan a
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B. Proportional and non-proportiona
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payment of commercial debts. Surety
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Long-Term Care Long-Term Care (“L
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with local lines of business and po
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transfer solutions (e.g., catastrop
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Retrocession procedures are central
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The portion invested in fixed incom
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6.2 Principal markets SCOR is chara
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On 6 March 2010, STOXX announced SC
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The premiums up for renewal, which
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75 ORGANIZATIONAL STRUCTURE
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E U R O P E 7 ORGANIZATIONAL STRUCT
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7.1.1.2 Project "New SCOR" In conne
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7.2 List of issuer’s significant
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8.1 Major existing or planned prope
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86 OPERATING AND FINANCIAL REVIEW
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9 OPERATING AND FINANCIAL REVIEW Th
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year ended 31 December 2012 down fr
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In 2011, SCOR was affected by the f
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31 March 2014. This transaction suc
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Net investment income and investmen
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IFRS classification In EUR million
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Combined ratio For detailed calcula
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10.1 Capital 103 10.2 Cash flow 103
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FINANCIAL LEVERAGE As at 31 Decembe
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11.1 Research and development activ
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studies and publications produced o
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12.1 Most significant trends in pro
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SCOR Global Life expects business o
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114 PROFIT FORECASTS OR ESTIMATES
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116 ADMINISTRATIVE AND MANAGEMENT B
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14 ADMINISTRATIVE AND MANAGEMENT BO
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Name Date of Birth Other principal
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Clariden Leu and from 10 January 20
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Name Age Current Position Executive
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of Alea Europe from 1999 to 2006, w
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134 REMUNERATION AND BENEFITS
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15 REMUNERATION AND BENEFITS 15.1 A
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and analysts; deepening of the empl
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Subscription and share purchase opt
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Year 2011 Year 2010 Premium/ Gross
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144 BOARD PRATICES
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16 BOARD PRATICES 16.1 Date of expi
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148 EMPLOYEES
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17 EMPLOYEES 17.1 Number of employe
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17.2.2 STOCK OPTIONS HELD BY THE ME
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Options exercised Number of stock o
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Plan Share award rights Price per s
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180 of the Commercial Code, options
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(5) Absolute appliance of Group’s
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The following table shows the free
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Shareholders meeting and Company's
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and, for the not tax resident of Fr
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17.4.2 DEFINED BENEFITS PENSION SCH
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18.1 Significant shareholders known
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Distribution of capital (number of
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On 4 July 2012, Alecta Pensionsför
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19.1 Related party transactions 177
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Amendment #7 to the retrocession ag
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The Board of Directors of SCOR SE,
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absorption of its wholly owned subs
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to the Facility Agreement granted/w
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adjusted on the date of departure b
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188 FINANCIAL INFORMATION CONCERNIN
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20 FINANCIAL INFORMATION CONCERNING
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LIABILITIES AS AT 31 DECEMBER In EU
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20.1.3 CONSOLIDATED STATEMENTS OF C
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20.1.5 CONSOLIDATED STATEMENTS OF C
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20.1.6 NOTES TO THE CONSOLIDATED FI
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• Amendments to IAS 19 - Employee
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Intangible assets The cost of intan
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(e) Cash and cash equivalents Cash
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Impairment of financial assets At e
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available and the reserves are adju
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Shadow accounting For the measureme
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together with actuarial assumptions
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The following table sets forth the
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CASH FLOWS BY SEGMENT The cash flow
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SCOR recognised the redemption rece
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PRO FORMA STATEMENT OF INCOME 2011
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2009 In EUR million (1) Provisional
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The Group conducted its annual asse
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20.1.6.6 NOTE 6 - INSURANCE BUSINES
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(B) MOVEMENTS IN LEVEL 3 FINANCIAL
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Financial lease contracts The Group
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At 31 December 2012 and 2011, the u
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MORTALITY SWAPS On 1 January 2008,
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20.1.6.10 NOTE 10 - ASSUMED AND CED
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Issued share capital The number of
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CAPITAL MANAGEMENT POLICY, OBJECTIV
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Share-based payments The caption
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SCOR has entered into a cross-curre
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SCOR Global P&C The table below sho
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The table below is a reconciliation
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(C) SHARE OF RETROCESSIONAIRES IN C
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(c) Defined benefits pension cost 2
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The following table summarizes the
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The table below presents the change
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The performance conditions will be
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In 2010 the tax rate change impact
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Applying the deferred tax netting m
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These expenses are further allocate
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In the event of termination of the
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SIGNIFICANT SUBSIDIARIES, INVESTMEN
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20.1.6.25 NOTE 25 - COMMITMENTS REC
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and documented before the pricing i
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(iv) Pandemic In Life reinsurance,
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Different types of GMDBs are covere
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(b) Receivables from retrocessionai
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(i) Default of pool members SCOR pa
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Additional information on the timin
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On the other hand, an increase in i
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The market sensitivities of the Gro
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20.2 Auditing of historical consoli
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Other information audited by the le
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21.1 Share capital 293 21.2 Charter
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Directors of SCOR SE decided on 28
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Number initially authorized (date o
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Objective 1. Stimulation of the sec
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21.1.7 HISTORY OF THE COMPANY’S S
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Board of Directors’ borrowing pow
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maintained by BNP on our behalf. Ea
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Proxies may be granted by a shareho
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Shareholders’ Meeting that may ta
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22 MATERIAL CONTRACTS None. 310
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23.1 Expert’s report 313 23.2 Inf
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314 DOCUMENTS ON DISPLAY
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316 INFORMATION ON HOLDINGS
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318 NON FINANCIAL INFORMATION
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320 FEES PAID BY THE GROUP TO THE A
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322 PUBLISHED INFORMATION
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28 PUBLISHED INFORMATION 28.1 Infor
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Date Subject Marchés Financiers 27
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328
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1.1 Significant events of the year
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1.2 Balance sheet 1.2.1 BALANCE SHE
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1.3 Income statement In EUR million
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In EUR million NON-UNDERWRITING ACC
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1.5 NOTES TO THE CORPORATE FINANCIA
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1.7 RECORDING OF REINSURANCE TRANSA
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1.12 FINANCIAL INSTRUMENTS RECEIVED
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Name Original currency Share capita
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NOTE 4 - TRANSACTIONS WITH SUBSIDIA
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(b) Financial liabilities • Initi
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• EUR 44 million in reserves for
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NOTE 10 - ANALYSIS OF GENERAL EXPEN
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Number of which to Group directors
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NOTE 15 - ANALYSIS OF COMMITMENTS G
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Appeal of Versailles. On the basis
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aforementioned notes is appropriate
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362 APPENDIX B: REPORT OF THE CHAIR
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APPENDIX B: REPORT OF THE CHAIRMAN
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Pursuant to the Internal Charter, t
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Page 378 and 379: Within this environment, control re
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Page 382 and 383: For SCOR Global Life: - an internal
Page 384 and 385: (D) INFORMATION AND COMMUNICATION
Page 386 and 387: • enhanced audit trail. The initi
Page 388 and 389: Other information We confirm that t
Page 390 and 391: APPENDIX C: GLOSSARY* *This glossar
Page 392 and 393: D DECENNIAL INSURANCE Decennial ins
Page 394 and 395: M MARINE AND AVIATION INSURANCE ALS
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Page 398 and 399: elevant at the date of acquisition.
Page 400 and 401: 1 Operating and financial review of
Page 402 and 403: 1.2 Operating results of SCOR SE du
Page 404 and 405: 3.2 Group social indicators 3.2.1 D
Page 406 and 407: As a global company organised into
Page 408 and 409: 3.2.10 Distribution by age Indicato
Page 410 and 411: in cooperation with the company doc
Page 412 and 413: - The items pertain to the entire G
Page 414 and 415: • Two approaches have been develo
Page 416 and 417: POLLUTION AND WASTE MANAGEMENT Info
Page 420 and 421: The Group’s French subsidiaries a
Page 422 and 423: 5.5 OTHER ACTIONS TAKEN IN SUPPORT
Page 424 and 425: 7 STATUTORY AUDITORS’REPORT ON TH
Page 426 and 427: 426 APPENDIX E: CROSS REFERENCE TAB
Page 428: European Company With a share capit
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