Scor Se · EURONEXT:SCR
Scor — Monte-Carlo Rendez-vous 2009
22 slides from Scor's conference presentation, 2009
Slide 1: Monte-Carlo Rendez-vous press conference: 2010 renewals
SCOR GROUP Monte-Carlo Rendez-vous press conference 2010 renewals: SCOR confirming commercial dynamism in an attractive reinsurance market
Slide 2: Agenda: 2009 reinsurance trends and SCOR achievements
How have 2009 reinsurance trends evolved since we met a year 1 ago? 2 What has SCOR Global P&C achieved over the past 12 months? What are SCOR Global P&C’s expectations for the January 2010 3 renewals? 4 SCOR Group ready to take up business opportunities
Slide 3: 2009 year-to-date renewals confirm SCOR's September 2008 Monte-Carlo stance
2009 year-to-date renewals confirm SCOR’s September 2008 Monte-Carlo stance SCOR’s September 2008 analysis What we have seen so far in the of 2009 renewals-1) 2009 renewals ÎInsurers’ capital losses and constraints ÎIncreased demand for reinsurance to increase demand for reinsurance ÎReinsurance con
Slide 4: Treaty P&C: active portfolio management opportunities
Treaty P&C: active portfolio management opportunities for improved (i) diversification and (ii) expected returns A highly A mostvaluable valuablefranchise resulting franchise from resulting 4040 from years ofof years presence inin presence the markets the markets % of GP&C 2008 GWP Northern Europe-3
Slide 5: Specialty Lines & Business Solutions: opportunities for profitable growth
Specialty Lines & Business Solutions: opportunities for profitable growth, individually and in synergy with Treaty P&C More opportunities for profitable growth in existing segments and addition of new segments Segmentation by Line % of GP&C 2008 GWP Aviation-1) Int. Airlines + Gen. Aviation Prod. Li
Slide 6: Agenda: SCOR Global P&C achievements
How have 2009 reinsurance trends evolved since we met a year 1 ago? 2 What has SCOR Global P&C achieved during the past 12 months? What are SCOR Global P&C’s expectations for the January 2010 3 renewals? 4 SCOR Group ready to take up business opportunities
Slide 7: SCOR Global P&C delivers positive and stable technical performance
SCOR Global P&C meets its objective to deliver a positive and stable technical performance… Net Technical Ratio SCOR Global P&C (SGPC) 120% delivers superior stability with 110% lowest volatility thanks to: 100% Î Active portfolio Peer 1 90% Peer 2 management, SCOR benefiting from risk 80% Peer 3 ma
Slide 8: Consistent application of the Dynamic Lift V2 Plan principles
…thanks to the consistent application of the Dynamic Lift V2 Plan principles … 2009 Achievements Technical profitability Higher diversification Expanding franchise enablers ÎIncreased price objectives and Î Within Treaty P&C: Î Establishment of fully fledged operational efficiency: h Geographic port
Slide 9: Improved expected technical profitability of 2009 underwriting year
… resulting in improved expected technical profitability of 2009 underwriting year vs. 2008 Price variations-1) between Jan. and July Expected technical profitability improves by 3 pts-3) Premium volume (EGPI) by band of expected U/W Ratio Treaty P&C Liability 2.3% Example: Motor 3.5% 22% of 2009 (v
Slide 10: Agenda: January 2010 renewals expectations
1 How have 2009 reinsurance trends evolved since we met a year ago? 2 What has SCOR Global P&C achieved during the past 12 months? What are SCOR Global P&C’s expectations for the January 2010 3 renewals? 4 SCOR Group ready to take up business opportunities
Slide 11: 2010 positive reinsurance outlook driven by supply and demand
2010 positive reinsurance outlook driven by supply and demand forces… Key drivers of the supply of reinsurance Î Retrocession capacities have shrunk and are not likely to re-expand Î To date there are no significant new capacities entering the reinsurance industry Î The capital markets are likely (i
Slide 12: SCOR Global P&C well placed to take up business opportunities
…with SCOR Global P&C well placed to take up business opportunities thanks to its business strategy… SCOR Global P&C is committed to …capitalizing on diversification and a reinsurance and a worldwide presence… customized approach to clients ÎGlobal reach and a wide range of capabilities to ÎFurther
Slide 13: Increasingly valued by clients internationally
…which is increasingly valued by its clients internationally, giving SCOR Global P&C an improved competitive position… Outstanding client perception-1) of SCOR’s core values, growing with involvement, and convergence over key SCOR assets Overall loyalty 87% of respondents-2) consider SCOR a reinsura
Slide 14: Cross-sell Specialty Lines to Treaty P&C and Life relationships
… and opportunities to capitalize on its existing Treaty P&C and Life relationships to cross-sell its Specialty Lines Treaty clients profile-1) by business areas Number of clients profile Potential for further commercial synergies 1 678 Î Growing book of clients are shared by P&C 1 618 1 399 148 147
Slide 15: Quasi-stability in portfolio mix in the near term
SCOR Global P&C plans for quasi-stability in its portfolio mix in the near term-1) Treaty P&C 2008 2010 27% 25% Property 35% 37% Motor 6% 7% Liability 5% 6% Others 2008 distribution 65% 63% Proportional 39% 32% Non Proportional 62% Direct 63% 61% 68% Brokers SCOR Treaty P&C Global P&C Specialty Line
Slide 16: Portfolio geared to profitability, improved expectations for 2009 and 2010
SCOR Global P&C’s portfolio is geared to profitability, leading to improved expectations for 2009 and 2010 accounting years From the gross underwriting ratio to the net combined ratio Improved 2010 expectations driven by continued focus on profitability Target 2010 Trend 2009 gross underwriting rati
Slide 17: Agenda: SCOR Group ready to take up business opportunities
1 How have 2009 reinsurance trends evolved since we met a year ago? 2 What has SCOR Global P&C achieved during the past 12 months? What are SCOR Global P&C’s expectations for the January 2010 3 renewals? 4 SCOR Group ready to take up business opportunities
Slide 18: SCOR Group geared towards current reinsurance and economic environments
The SCOR Group is resourcefully geared towards the current reinsurance and economic environments Fully operational Rating advances Î Stable and dedicated management ÎUpgrade to “A” from S&P (stable outlook) ÎUpgrade to “A2” from Moody’s (stable outlook) Î Hub organization in place ÎUpgrade to “A” fr
Slide 19: Clear strategic cornerstones strengthening the Group's status
Coherent implementation of clear strategic cornerstones is strengthening the Group’s status in the reinsurance industry SCOR Global SCOR Global SCOR Global P&C Life Investments ÎStrong franchise ÎTraditional Life ÎRisk-conscious and Strong leveraging on Treaty reinsurance business return-focused ass
Slide 20: SCOR has consistently delivered stable results since 2005
SCOR has consistently delivered stable results since 2005 … SCOR - Among the most profitable reinsurers, with low earnings volatility Standard Company ROEs 2005 2006 2007 2008 Average Deviation Peer 1 (7.5)% 28.3% 25.9% 20.5% 16.8% 16.5% SCOR 8.6% 16.9% 14.0% 9.0% 12.1% 4.0% Peer 2 12.1% 13.8% 15.2%
Slide 21: Reliability and continuity appreciated by financial markets and analysts
…and its reliability and continuity is appreciated by the financial markets and analyst community Positive performance during credit crunch Strong analysts’ perception: 77% on “BUY” “"[SCOR is] In a sweet spot … A good place to be invested in"” BNP Paribas, 9th July 09 100% “SCOR is in marching orde
Slide 22: SCOR ready to take up business opportunities
SCOR ready to take up business opportunities thanks to positive drive, client relationship focus & fully operational status Positive reinsurance outlook expected to continue Î Reinsurance demand has historically increased in recessionary times Î Primary insurers’ capital losses and constraints-1) li