Scor SE · EURONEXT:SCR
Scor — Shareholder Meeting (April 2013)
25 slides from Scor's shareholder meeting presentation, Apr 25, 2013
Slide 1: Combined General Meeting
Combined General Meeting Paris 25 April 2013
Slide 2: Notice: please switch off your mobile phone
Notice To avoid interference, please switch off your mobile phone 2
Slide 3: Notice: Forward-looking statements
Notice 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. Inform
Slide 4: SCOR is doing well
Combined General Meeting is doing well 4
Slide 5: Profitability: business model proved in 2012
The relevance of SCOR’s business model was proved once again in 2012, the Group having managed to combine growth, profitability and solvency Gross written premiums, in EUR billions SCOR’s +23% Growth strategy 4 strategic cornerstones 9.5 8.6 7.6 2011 published 2011 pro forma 2012 1 2 Net income, in
Slide 6: A group that continues to grow
Combined General Meeting A group that continues to grow 6
Slide 7: SCOR is a group that continues to grow
SCOR is a group that continues to grow Gross written premiums, in EUR billions Growth 9.5 7.6 6.4 6.7 5.8 4.8 Profitability 2.9 2.4 2005 2005 2006 2007 2008 2009 2010 2011 2012 2012 SCOR 19% average growth per annum for SCOR Global P&C (SGPC) Global 1.4 4.6 Solvency P&C 25% average growth per an
Slide 8: Consolidating positions in the most dynamic regions
A group consolidating its positions in the most dynamic regions of the world Gross written premiums, in % 2005 2012 Growth 28% 42% 39% 56% Profitability 16% Europe 19% Americas Asia-Pacific/ROW1) 2005 2012 Number of employees outside Europe 288 801 Solvency Number of offices outside Europe 18 27 Cap
Slide 9: SCOR consolidates its positions in the Americas
SCOR consolidates its positions in the Americas SCOR has multiplied by ~5 its Americas footprint Successful expansion of the SCOR group GWP in EUR millions 3 697 Growth SCOR has successfully integrated 2 462 Transamerica Re, making SCOR Global Life the 2nd largest Life 679 393 1 235 reinsurer in t
Slide 10: In Asia-Pacific, SCOR continues to expand
In Asia-Pacific, SCOR continues to expand its activities SCOR underwrites gross premiums of more A successful implementation than EUR 1.2 billion in Asia-Pacific GWP in € millions 1 249 Growth SCOR’s longstanding presence in Asia 448 is highly valued by the Group’s clients 228 801 184 Asia-Pacif
Slide 11: April 2013 renewals for SCOR Global P&C
At the 1 April 2013 renewals, SCOR Global P&C continues its profitable growth throughout the world Premiums renewed at 1 April, in EUR millions Growth +6 % EUR 386 million of premiums up for renewal 386 408 in April 2013, distributed between 69% in +4 % 113 Specialty Asia, 23% in the Americas and
Slide 12: A group delivering on its profitability
Combined General Meeting A group delivering on its profitability 12
Slide 13: SCOR drives profitability through three engines
SCOR drives its profitability through the Group’s three engines Growth Excellent combined ratio High and stable 2012 Strong ongoing return on in P&C: 94.7%, better than technical margin (7.4 %2)) in invested assets of 3.5%4), the strategic plan scenarios line with SMV1.13) scenarios combined with a
Slide 14: SCOR improves its financial profitability
SCOR improves its financial profitability Growth 2011 published 2011 pro forma 2012 Net income (in € millions) 330 368 418 Profitability Excluding equity Excluding equity Excluding equity portfolio impairments portfolio impairments portfolio impairments 803 ROE above the 889 1 002 risk-free rate (ba
Slide 15: A group consolidating its solvency
Combined General Meeting A group consolidating its solvency 15
Slide 16: In 2012, SCOR consolidates its solvency
In 2012, SCOR consolidates its solvency In 2012, SCOR actively manages its debt: SCOR issues CHF 315 million of perpetual subordinated debt under best-in-class conditions (5.25%) Growth En € millions SCOR buys back an existing debt of EUR 50 million at 80% of par value SCOR optimises its capital
Slide 17: SCOR has a solid balance sheet
SCOR has a solid balance sheet Consolidated Group balance sheet SCOR’s asset portfolio (€14.0 billion at Q4 2012) is systematically Growth in € billions (rounded) valued at market value ~ x 2.5 For the fourth consecutive year, 32.6 Towers Watson confirmed a higher than “best estimate” reserve le
Slide 18: Ability to absorb shocks: 2011 (Asia) and 2012 (Sandy)
SCOR demonstrates its ability to absorb shocks, in 2011 (Asia) and 2012 (Sandy) Impact of Sandy in % of shareholders’ equity at 31/12/2012 and of 2012 P&C Net Earned Premiums 16% Losses < $200m Peer 20 14% $200m ≤ Losses < $800m Losses ≥ $800m In % of P&C 2012 Net Earned Premiums 12% Peer 7 Peer 19
Slide 19: SCOR is investing for the future
SCOR is investing for the future SCOR is developing new SCOR is investing in new tools SCOR is ready for Solvency 2 products and services “Global Data Center” with a private Réhalto Internal model submitted to the cloud solution Velogica Prudential Control Authority Renewal of the OMEGA 21
Slide 20: A group creating shareholder value
Combined General Meeting A group creating shareholder value 20
Slide 21: Attractive risk / return ratio for shareholders
SCOR offers its shareholders a very attractive risk / return ratio SCOR’s “Value proposition” To ensure maximum profitability by strengthening its solvency (from BBB+ in 2005 to A+ in 2012) and by minimising volatility 16% Outperforming risk / return Peer 2 14% Peer 8 Peer 3 Peer 7 12% Average 10% R
Slide 22: SCOR proposes a dividend up by 9%
SCOR proposes a dividend up by 9% SCOR has followed an active distribution policy since 2005 Distribution rate 1.10 1.10 Dividend per share (€) 1.00 0.80 0.80 0.80 0.50 62% 45% 48% 48% 37% 37% 35% 2005 2006 2007 2008 2009 2010 2011 Between 2005 and 2011, SCOR paid out dividends of ~ € 1.0 billion to
Slide 23: SCOR has weathered the crisis thanks to prudent management
SCOR has weathered the crisis thanks to prudent management Performances of the main reinsurers and indices since the beginning of the crisis Share price development TSR1) Hannover +88.1 % +108.8 % Re SCOR +40.2 % +67.7 % Munich Re +22.2 % +43.6 % 100 Partner Re +16.4 % +30.4 % Swiss Re -3.2 % +6.9 %
Slide 24: In 2013, completes Strong Momentum and prepares new strategic plan
In 2013, completes the implementation of “Strong Momentum” and actively prepares its new strategic plan SCOR is committed to achieving the strategic objectives of its three-year plans 2013 – 2016 Future strategic plan 2010 - 2013 Strong Momentum 2007 - 2010 Dynamic 2004 - 2007 Lift 2002 - 2004 Movin
Slide 25: Awards and rating upgrades
Combined General Meeting 2010 2011 2012 “Top ranked Overall Reinsurer“, SCOR Global P&C: best “Most Proactive Reinsurer" and SCOR: “Reinsurance reinsurance company team "Reinsurer Making Most Positive Company of the Year“ for Motor and Facultative Impact” in UK & Ireland Denis Kessler: 2010 Casualty