SCOR Global Life participates in largest ever pension scheme longevity swap with Aviva

Press Release 06 March 2014 For more information, please contact: Géraldine Fontaine                                         +33 (0) 1 58 44 75 58 Communications and Public Affairs Antonio Moretti                                               +33 (0) 1 58 44 77 15 Investor Relations Director SCOR Global Life participates in largest ever pension scheme longevity swap with Aviva SCOR Global Life, a subsidiary of SCOR SE, has entered into a longevity transaction with the UK-based insurer Aviva. The transaction covers pensions in payment of some 19,000 pensioners who are members of the Aviva Staff Pension Scheme. The risk of these members living longer is transferred from Aviva's pension scheme to the reinsurance market. The associated liabilities are approximately GBP 5 billion, which makes this the largest pension scheme longevity swap completed to date globally. SCOR is assuming a meaningful portion of this risk. The effective date of the transaction is 1 January 2014. This is the fourth longevity swap SCOR has written to date in the UK, and it confirms SCOR's strong franchise and expertise in this growing marketplace. The further success in the UK, following on from SCOR's pioneering longevity transaction in the Netherlands in December 2013, bears witness to the progress already made by SCOR Global Life in terms of implementing the "Optimal Dynamics" plan. SCOR aims to double its longevity business over the course of the three- year plan while maintaining profitability levels in line with the "Optimal Dynamics" Group-wide ROE target of 1,000 bps above the risk-free rate. Paolo De Martin, CEO of SCOR Global Life, comments: "This significant longevity transaction is fully consistent with SCOR's risk appetite and longevity strategy and it satisfies our Group profitability criteria. Coming just a few months after closing the transaction with Aegon in the Netherlands, it demonstrates SCOR Global Life's strong skill set in the global longevity market. SCOR is an important participant in this market and we look forward to partnering with more customers to offer longevity solutions in the months and years to come." Denis Kessler, Chairman and Chief Executive Officer of SCOR, comments: "This transaction is notable not only for its size but also as a demonstration of the partnership approach we adopt with our clients. With such a complex transaction, it is vital to find a solution that works for the employer, the trustees and the reinsurer. I am delighted with this further step towards meeting the ambitious targets SCOR has set out in its "Optimal Dynamics" three-year plan." * *    * 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 05 March 2014 under number D. 14-0117 (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". SCOR Press Release: http://hugin.info/143549/R/1766685/600095.pdf This announcement is distributed by GlobeNewswire on behalf of GlobeNewswire clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Scor via GlobeNewswire [HUG#1766685]