SCOR’s Combined General Meeting of 25 May 2023: SCOR shareholders
adopt all the proposed resolutions
Press Release25 May 2023 - N° 10
SCOR’s Combined General Meeting
of 25 May 2023
SCOR shareholders adopt all the proposed
resolutions, as the Group outlines its new strategic plan and
further strengthens its sustainable underwriting
commitments
The Combined General Meeting of SCOR SE was held
on 25 May 2023, at the Group’s headquarters at 5, avenue Kléber,
75016 Paris, and was chaired by Denis Kessler, Chairman of the
Board of Directors of SCOR SE.
All the resolutions proposed by the Board of
Directors were approved by the General Meeting.
The General Meeting approved the appointment of
SCOR SE CEO Thierry Léger as a director of SCOR SE.
The General Meeting ratified the provisional
appointment of Martine Gerow as a director.
It also approved the renewal of the director
mandates of Augustin de Romanet, Adrien Couret, Martine Gerow,
Holding Malakoff Humanis (represented by Thomas Saunier), Vanessa
Marquette, Zhen Wang, and Fields Wicker-Miurin.
Finally, the General Meeting approved the
payment of a dividend of EUR 1.40 per share for the 2022 financial
year. The coupon date is set at 30 May 2023 and the payment date at
1 June 2023.
The details of the resolution voting results
have been posted on the company’s website.
*
*
*
During the General Meeting, Thierry Léger, Chief Executive
Officer of SCOR, presented the outlines of the new strategic plan
for the period 2024 to 2026.
This new plan, which will be presented in detail
at SCOR's Investor Day on 7 September 2023, will be based on two
main areas:
- Maximizing the Group’s Economic
Value and maintaining a high level of solvency in a favorable
market environment;
- Developing the Group’s business
model to increase its competitiveness.
SCOR is in a strong position to benefit from the
current supportive environment. Its three business units will be
the Group's main drivers of growth and value creation:
- L&H: SCOR will fully leverage
its L&H reinsurance platform to generate attractive and stable
cashflows;
- P&C: SCOR will take full
advantage of the P&C reinsurance cycle to improve its risk
profile and maximize value creation;
- Investments: SCOR will pursue its
prudent investment policy while maintaining a high level of
liquidity.
The Group will evolve its business model, which
also creates value, through four levers:
- Closer and more dynamic steering of
capital allocation;
- Strengthened asset & liability
management;
- The establishment of risk
partnerships through centralized retrocession;
- Structuring the model around
data.
*
*
*
During the General Meeting, SCOR also announced
new sustainable underwriting commitments, which will take effect on
1 September 2023:
New policy on gas SCOR will
exclude standalone direct insurance and facultative reinsurance
coverage for new gas field development projects1. This complements
the similar commitment made last year on new oil field development
projects.
New policy on Arctic oil and
gasSCOR will exclude specific, standalone direct insurance
and facultative reinsurance coverage for oil and gas exploration,
production and related dedicated infrastructure projects in the
Arctic Monitoring and Assessment Programme (AMAP) Region, with the
exception of the Norwegian Arctic Region.
New policy on oil sandsSCOR
will not provide any new (or increase its commitments on existing)
standalone direct insurance and facultative reinsurance coverage in
respect of oil sands operations1 (both extraction and
upgraders).
New policy on coalSCOR will
exclude standalone direct insurance and facultative reinsurance
coverage for new dedicated thermal coal mining infrastructure
(e.g., ports, washing and handling facilities).SCOR will not write
any new business in respect of:
- standalone thermal coal mines
- standalone unabated coal-fired
power plants.
*
*
*
Contact details
Media RelationsAlexandre
Garciamedia@scor.com
Investor RelationsYves
Cormier ycormier@scor.com
www.scor.com
LinkedIn: SCOR | Twitter: @SCOR_SE
SCOR, a Global Tier 1
Reinsurer
SCOR, a leading global reinsurer, offers its
clients a diversified and innovative range of reinsurance and
insurance solutions and services to control and manage risk.
Applying “The Art & Science of Risk”, SCOR uses its
industry-recognized expertise and cutting-edge financial solutions
to serve its clients and contribute to the welfare and resilience
of society.
SCOR offers its clients a Tier 1 reinsurer
rating from Standard & Poor’s, AM Best, Moody’s and Fitch.
The Group generated premiums of EUR 19.7 billion
in 2022 and serves clients in more than 160 countries from its 35
offices worldwide.
For more information, visit: www.scor.com
1 Exceptions may be made for specific,
standalone direct insurance and facultative reinsurance coverage
for insureds with a verified strategy that is aligned with a
credible Net-zero by 2050 transition plan and will be based on the
Science Based Targets initiative (SBTi), once available, or
comparable third-party issued science-based target setting guidance
for the upstream oil and gas sector.
Euronext Carrefour PR
Index Chart
From Nov 2024 to Dec 2024
Euronext Carrefour PR
Index Chart
From Dec 2023 to Dec 2024
