Scor Se · EURONEXT:SCR

Scor — Investor Day (September 2004)

54 slides from Scor's investor day presentation, Sep 6, 2004

  1. Slide 1: “Moving Forward” 2004 – 2007

    “Moving Forward” 2004 – 2007 September 6, 2004 0RYLQJ)RUZDUG 6HSWHPEHU

  2. Slide 2: Contents

    Contents 1. The “Back on Track” plan has 8. Capital allocation by LoB and by met its objectives market 2. SCOR is implementing the 9. Business mix and capital “Moving Forward” plan for 2005- allocation 2007 10. SCOR net results and financial 3. The Group’s business income from here to 2007 environme

  3. Slide 3: The “Back on Track” plan has met its objectives

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  4. Slide 4: SCOR is implementing the “Moving Forward” plan

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  5. Slide 5: SCOR is implementing the “Moving Forward” plan

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  6. Slide 6: The Group’s business environment

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  7. Slide 7: The Group’s business environment

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  8. Slide 8: The Group’s business environment

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  9. Slide 9: The Group’s business environment: Life reinsurance

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  10. Slide 10: The Group’s business environment: Non-Life reinsurance

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  11. Slide 11: The fragmented cycle in Non-Life reinsurance

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  12. Slide 12: The Group’s business environment

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  13. Slide 13: The Group’s business environment

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  14. Slide 14: The Group’s business environment

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  15. Slide 15: The generalized downward cycle scenario

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  16. Slide 16: The Group’s business environment

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  17. Slide 17: SCOR has significantly reduced its underwriting compared to competitors

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  18. Slide 18: SCOR has rebalanced its book towards less cyclical markets

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  19. Slide 19: SCOR has rebalanced towards Life reinsurance

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  20. Slide 20: SCOR has restructured its business book

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  21. Slide 21: The Group’s vision

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  22. Slide 22: The Group’s vision

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  23. Slide 23: The Group’s vision

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  24. Slide 24: The objectives of the “Moving Forward” plan

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  25. Slide 25: The evolution of SCOR’s available capital

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  26. Slide 26: Three scenarios of available capital changes

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  27. Slide 27: Capital allocation by LoB and by market

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  28. Slide 28: Capital allocation by LoB and by market

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  29. Slide 29: The SCOR US specific case

    &DSLWDODOORFDWLRQE\/R%DQGE\PDUNHW 7KH6&2586VSHFLILFFDVH ¾ &RQWUROOHGXQGHUZULWLQJ ƒ A book which has been cleaned up and reoriented since 2002 towards selectivity, profitability and risk reduction ƒ A strengthening of internal control over the entire operational process in order to allow immediate ad

  30. Slide 30: Active management of discontinued business

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  31. Slide 31: Business mix and capital allocation

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  32. Slide 32: Business mix and capital allocation

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  33. Slide 33: Business mix and capital allocation

    %XVLQHVVPL[DQGFDSLWDODOORFDWLRQ &RQFOXVLRQRQDYDLODEOHFDSLWDODGHTXDF\UHODWLYHWR XQGHUZULWLQJSROLF\LQWKHIUDJPHQWHGF\FOHVFHQDULR ¾ The level of capital necessary corresponding to the underwritings under the fragmented cycle scenario is approximately EUR 1 930 million. This is slightly below the level o

  34. Slide 34: The generalized downward cycle scenario

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  35. Slide 35: Business mix and capital allocation

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  36. Slide 36: Business mix and capital allocation

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  37. Slide 37: Business mix and capital allocation

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  38. Slide 38: Business mix and capital allocation

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  39. Slide 39: An inflection in investment policy

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  40. Slide 40: Forecast results

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  41. Slide 41: Forecast net profitability increase

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  42. Slide 42: Controlling overheads

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  43. Slide 43: Earnings forecasts for Non-Life reinsurance

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  44. Slide 44: Earnings forecasts for Life reinsurance

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  45. Slide 45: Overall net results forecasts

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  46. Slide 46: Resulting earnings forecasts

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  47. Slide 47: Resulting earnings forecasts

    5HVXOWLQJHDUQLQJVIRUHFDVWVIRU ¾ 7KLVUHVXOWLVDFKLHYHGWKURXJK ƒ A VWULFWXQGHUZULWLQJSROLF\ focused on technical profitability, ƒ The RSWLPL]DWLRQRIFDSLWDODGHTXDF\ ƒ A 15 to 20% GHFUHDVHRIWKH*URXS1RQ/LIH UHVHUYHV due to the reduction of premiums which occurred over the last 3 years, freeing up capital

  48. Slide 48: Conclusion: “Moving Forward” is a rigorous, prudent, reactive plan

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  49. Slide 49: Conclusion: prudent investment policy

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  50. Slide 50: Conclusion: reactive and opportunistic strategy

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  51. Slide 51: Conclusion: commercial, financial and management levers

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  52. Slide 52: Conclusion: investment, monitoring and human resources

    &RQFOXVLRQ³0RYLQJ)RUZDUG´ LVDSODQ GHVLJQHGWREHULJRURXVSUXGHQWDQGUHDFWLYH ƒ A more dynamic investment policy, a more active management of the cash position and the investments ƒ A reinforcement of technical monitoring and an optimization of the Group’s structures ƒ An active human resources policy, e

  53. Slide 53: “Moving Forward”

    “Moving Forward” 0RYLQJ)RUZDUG 6HSWHPEHU

  54. Slide 54: Slide 54

SCOR — Investor Day (September 2004) on 6ix