SCOR’s first quarter 2022 results will be affected by the conflict in Ukraine-April 15, 2022 16:02

press release


April 15, 2022-No. 8

L

that is

Result of

First semester

2022

Skal

Affected by

Ukrainian conflict

Since the beginning of the war in Ukraine on February 24, 2022, SCOR has carefully studied the progress of the case and the potential impact of conflict and international sanctions on its activities.

The SCORPO subsidiary owned by SCOR in Russia was directly affected and stopped underwriting new businesses. More generally, this conflict affects businesses such as political risk, credit and guarantees, and aviation. SCOR plans to record double-digit charges in the first quarter of 2022 (”

expensive

2 digits

»»

) € 1 million for potential claims related to reinsurance treaties and special insurance disputes. This estimate will change as the conflict continues.

The estimated cost of this conflict was combined in the first quarter of 2022 with a series of natural disasters, including floods in Australia, storms in Europe, and droughts in Brazil, and a continuation of the pandemic in the United States. .. These developments should negatively impact SCOR P & C’s combined ratios and SCOR L & H’s technical margins, resulting in quarterly losses.

Results for the first quarter of 2022 will be published on May 6, 2022.

The Group’s capital is very well-stocked, with a solvency ratio of March 31, 2022, significantly higher than the 226% ratio announced at the end of the fourth quarter of 2021. This solvency will be submitted for shareholder approval at the Annual General Meeting of Shareholders on May 18, 2021 and will be paid on May 24, 2022 with a dividend of € 180 per share for fiscal year 2021.

This publication is an application

For this

Conforms to Article 17 of Regulation (EU) No. 596/2014 of 16 April 2014 (amendments and supplements).

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contact address

Public relations activities for investors


Yves Comier

[email protected]

Public relations window to the media


Natalie Mikaelov

[email protected]

www.scor.com

LinkedIn: SCOR | Twitter: @SCOR_SE

Universal


The numbers shown in this document may not correspond exactly to the sum of the table and the text. Percentages and rates of change are calculated for the entire digit (including decimals). Therefore, rounding may cause the document to contain slight differences between totals and percentages. Unless otherwise stated, the source of information for a company’s ranking and market position is in-house.

Description of future prospects


This document contains forward-looking statements and information regarding the purposes of SCOR, including those relating to SCOR’s current or future plans.

These statements are not only terms such as “estimate,” “believe,” “aim,” “intention,” “expect,” “expect,” and “result,” but also in the future tense and conditional mood. It may also be identified by use. , “Required” and other similar expressions.

It should be noted that the achievement of these objectives and their forward-looking statements and information depends on the circumstances and events that may occur in the future.

We cannot guarantee the realization of these forward-looking statements and information. Forward-looking statements and information and information related to purpose are material to known or unknown risks, unspecified or unspecified uncertainties, and future outcomes, performance, and outcomes planned or expected by SCOR. It may be affected by other factors that may affect it.

In particular, the impact of the Covid-19 crisis on SCOR’s activities and outcomes cannot be accurately assessed. In particular, given the uncertainties associated with pandemic developments, health and economic implications, and the possible impact of future government decisions or legislation in this context.

Moreover, given the size and duration of the conflict and the uncertainties associated with its consequences, the impact of the Russian invasion and the war in Ukraine on SCOR’s activities and outcomes cannot be accurately assessed at this stage.

Therefore, all ratings and numbers shown in this document are necessarily estimates based on evolutionary analysis and contain a wide range of theoretical assumptions that are highly evolutionary.

Information on the risks and uncertainties that may affect SCOR’s business can be found in the 2021 Universal Reference Document, filed March 3, 2022, number D.22-0067, on the SCOR website at www.scor. Shown with the available Autorité des marchés financiers (AMF). com.

Moreover, these forward-looking statements are not “profit forecasts” in the sense of Article 1 of the Commission Delegation Regulations (EU) 2019/980.

SCOR undertakes no obligation to publish any corrections or updates to these forward-looking statements and information.

Financial information

The Group’s financial information contained in this document is based on interpretations published and approved by IFRS and the European Union.

Unless otherwise noted, items and ratios on the balance sheet and income statement for the previous year have not been reclassified.

The financial results for the fiscal year ended December 31, 2021 contained in the 2021 Universal Registration Document are audited by SCOR Audit & Supervisory Board Members.

All figures are shown in euros unless otherwise stated. Figures for the period after December 31, 2021 should not be considered as forecasts of expected financial results for such periods. The solvency ratio is not a value audited by our auditors. The Group’s final solvency results will be submitted to the supervisory authority by May 2022 and may differ from the estimates expressed or implied in the 2021 Universal Registration Document.

Enclosed

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