Press Release
20 May 2014
For more information, please contact:
Géraldine Fontaine +33 (0) 1 58 44 75 58
Communications
Antonio Moretti +33 (0) 1 58 44 77 15
Investor Relations Director
The SCOR group continues to execute the "Optimal Dynamics" plan with the "Alternative Solutions" initiative and reinforces its central functions
SCOR continues to implement its strategic plan "Optimal Dynamics" with the creation of a new business unit dedicated to the "Alternative Solutions" initiative within its SCOR Global P&C division.
The "Alternative Solutions" initiative, which is set out in the "Optimal Dynamics" plan, aims to provide the Group's insurance and corporate clients with a wider range of hybrid reinsurance solutions for the transformation, financing and transfer of risks.
The newly created business unit is part of the Specialties section of SCOR Global P&C. It combines the division's expertise in terms of Structured Risk Transfer (SRT), Alternative Risk Financing (ARF) and Insurance Linked Securities (ILS), under the supervision of its SRT/ART Committee comprising Victor Peignet, Benjamin Gentsch and Yvan Besnard.
Vincent Foucart, who had been Group Corporate Secretary since 2010, becomes the Director of this new "Alternative Solutions" business unit.
Romain Launay, currently Senior Advisor to the Chairman & Chief Executive Officer of SCOR, is appointed Group General Secretary. Reporting to the Chairman & CEO, he will be in charge of a broader General Secretariat that includes the Group's legal department and combines, in addition to legal affairs, the secretariat of the Board, regulatory affairs, compliance and public affairs. Vincent Malige, currently Group Deputy General Counsel, henceforth takes on the responsibilities of Group General Counsel following the departure of Eric Sandrin, within the framework of the General Secretariat run by Romain Launay.
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Romain Launay, 35, is a graduate of the Ecole Polytechnique, the Ecole des Mines de Paris, Corps des Mines and the Centre des Hautes Etudes de l'Assurance (CHEA). In 2004, he became Deputy Regional Director of DRIRE Ile-de-France. In 2007, he was appointed Director of the office of the General Directorate for Competitiveness, Industry and Services (DGCIS) at the Ministry of the Economy, Industry and Employment. From November 2009 to February 2012, he was Technical Advisor to the Prime Minister notably in charge of company financing, services, competition, consumption and small and medium-sized enterprises. He joined SCOR in February 2012 as Senior Advisor to the Chairman & Chief Executive Officer.
Vincent Foucart, 35, is a graduate of the Ecole Nationale Supérieure de Techniques Avancées (ENSTA) and the Centre des Hautes Etudes de l'Assurance (CHEA), and holds an Executive MBA from HEC. He is also a financial analyst (CFA) and actuary. He began his career at Société Générale in Asia and joined the ALLIANZ group as Investor Relations Manager in 2001, where he went on to become Director of the AGF Chairman's office and, as of 2006, Manager of the Long-Term Investments division. In 2007, he took charge of the asset management company Tocqueville Finance. In 2009, he joined the SCOR group as Director of the Chairman & CEO's office, before becoming Group Corporate Secretary. In parallel, he has been developing SCOR Global P&C's ILS offering since 2011.
Vincent Malige, 43, holds a postgraduate diploma in economic law from the Panthéon-Sorbonne University and is a member of the Paris Bar. He began his career as a corporate lawyer in London and Paris before working at a law firm specializing in mergers and acquisitions from 2001 to 2006. In 2006 he joined the SCOR Group as a lawyer within the Group Legal Department. He became General Counsel of the Holding in 2008, before being appointed Paris Hub General Counsel and Group Deputy General Counsel in 2011.
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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. Information in this communication may include "forward-looking statements", including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions and include any statement which does not directly relate to a historical fact or current fact. Forward-looking statements are typically identified by words or phrases such as, without limitation, "anticipate", "assume", "believe", "continue", "estimate", "expect", "foresee", "intend", "may increase" and "may fluctuate" and similar expressions or by future or conditional verbs such as, without limitations, "will", "should", "would" and "could." Undue reliance should not be placed on such statements, because, by their nature, they are subject to known and unknown risks, uncertainties and other factors, which may cause actual results, on the one hand, to differ from any results expressed or implied by the present communication, on the other hand.
Please refer to SCOR's Document de référence filed with the AMF on 05 March 2014 under number D. 14-0117 (the "Document de référence"), for a description of certain important factors, risks and uncertainties that may affect the business of the SCOR Group. As a result of the extreme and unprecedented volatility and disruption of the current global financial crisis, SCOR is exposed to significant financial, capital market and other risks, including movements in interest rates, credit spreads, equity prices, and currency movements, changes in rating agency policies or practices, and the lowering or loss of financial strength or other ratings.
The Group's financial information is prepared on the basis of IFRS and interpretations issued and approved by the European Union. This financial information does not constitute a set of financial statements for an interim period as defined by IAS 34 "Interim Financial Reporting".
