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Scor — Monte Carlo Press Conference 2008

16 slides from Scor's conference presentation, Sep 7, 2008

1. Slide 1: Monte Carlo Press Conference

   Monte Carlo Press Conference 7 September 2008

2. Slide 2: SCOR successfully executes its strategy

   1 SCOR successfully executes its strategy Non-Life renewals 2009 - Focus on Portfolio Management and 2 Diversification 3 Key take-aways

3. Slide 3: A new company built through proven strategies and great ambitions

   A new company built through proven strategies and great ambitions... Long-term strategic planning mid 2007 – mid 2010 2010 Dynamic Lift Back on Track Introduction Restoring confidence 1. Detailed balance sheet review 2. 2002 – a promising year 2005 2009 Restoring profitability E ntering a new dimens

4. Slide 4: Supported by a clear Strategic Map

   …supported by a clear Strategic Map Portfolio RISK BASED CAPITAL Management lower (economic capital) Capital Management diversification lower rating Ri sk di ve A+ rs ifi higher ca ti o ti ng diversification n Ra higher rating SOLVENCY VOLUME (available capital) Pr lower of it franchise e ab is ili

5. Slide 5: New SCOR successfully created in less than one year

   “New SCOR" successfully created in less than one year… Synergies Successful Non Life confirmed and renewals with minimal Key talents restructuring plan business attrition mobilized - new implemented confirmed management and Local presence in underwriting teams Emerging Markets Organization strengthe

6. Slide 6: Focusing on a robust capital shield and shareholder value creation

   …focusing on a robust capital shield and shareholder value creation… Capital shield Shareholder value Solid balance sheet (published) Strong earnings (pro-forma) in €m H1 2008 H1 2008 Investments 18 586 ƒ € 25.5 bn total assets Net combined ratio 98.7% ƒ Net technical Non-Life Gross reserves1) 19 14

7. Slide 7: Demonstrating its profitability track record in H1 2008

   ...and demonstrating its profitability track record in H1 2008 Non Life Combined Ratio (%) Life operating margin (%) 3) 100.1% 106.5% 96.4% 99.3% 98.7% 8.2% 7.5% 7.7% 7.3% 4.2% 2004 2005 2006 20072) H1 2008 2004 2005 2006 20072) H1 2008 A consistent profitability track record Net income ROE (%) 450

8. Slide 8: SCOR successfully executes its strategy

   1 SCOR successfully executes its strategy Non-Life renewals 2009 - Focus on Portfolio Management and 2 Diversification 3 Key take-aways

9. Slide 9: Reinsurance Industry outlook 2009

   Reinsurance Industry outlook 2009 ƒ Credit Crunch is affecting Insurers and Reinsurers: ƒ Insurers Capital needs will affect their demand for reinsurance ƒ Top 26 reinsurers 9% NAV decline in 1H2008 ƒ Reinsurers focus on Cycle Management will not diminish ƒ Conditions and pricing standing firmer tha

10. Slide 10: Strategic focus on management of cycles shared throughout SCOR Global P&C

    A strong strategic focus on management of cycles is being shared throughout SCOR Global P&C’s organisation SCOR Global P&C wants to anticipate the non-life market ahead ... Focus on Capital Management and Earnings Focus on Portfolio Management using Focus on controlled independent Diversification ..

11. Slide 11: SCOR renewal strategy

    SCOR renewal strategy ƒ SCOR Global P&C is committed to reinsurance and a worldwide presence: ƒ Global reach and broad band of capabilities to serve our clients in the best possible way…but voluntarily underweighted in the US ƒ Primary focus on reinsurance ƒ Niche insurance business very selectively

12. Slide 12: Our view of the fragmented cycle in Treaty P&C

    Our view of the fragmented cycle in Treaty P&C (geographically, by market, and by Line of Business)1) An overall picture requiring close monitoring but still technically sound Southern Europe Northern Europe South East Asia Eastern Europe USA Mainland Northern Asia Latin America Russia & CIS South K

13. Slide 13: Our view of the fragmented cycle in Specialty Lines

    Our view of the fragmented cycle in Specialty Lines (by product)1) Opportunities of profitable growth and new developments (eg. Structured Risk Transfer) Aviation* Int. Airlines Gen. Aviation Prod. Liability Space Space Engineering CAR EAR B&M Marine Hull Cargo P&I Energy Agriculture Hail MPCI C&S C

14. Slide 14: Treaty P&C Americas Focus – Good cycle management

    Treaty P&C Americas Focus – Good cycle management supported by a clear understanding of the market1) Reinsurance Environment Dashboard Small Regional Super Regional National Accounts Multi-line Adequate Marginal Property Inadequate General Liability Not applicable Umbrella Auto Workers Compensation

15. Slide 15: SCOR successfully executes its strategy

    1 SCOR successfully executes its strategy Non-Life renewals 2009 - Focus on Portfolio Management 2 and Diversification 3 Key take-aways

16. Slide 16: SCOR well on track - supported by profitable business engines and robust capital position

    SCOR well on track - supported by profitable business engines and robust capital position Capital – adequacy confirmed ƒ Robust balance sheet demonstrated Non-Life – managing the cycle despite the financial market crisis - ƒ SCOR focuses on efficient capital shield strategy proved diversification an

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