4.4 Legal risk - Scor

SCOR Global Life expects business opportunities in several markets. By maintaining its policy of positioning itself in stronggrowth
markets with initiatives such as (i) launching and intensifying of business activities from Life representative offices in
Israel and Mexico opened in 2011, reinforcing its organizational structure in Latin America, (ii) developing the new
subsidiary in Australia established in 2011 covering the Australian and New Zealand markets for continued growth in the
Asia-Pacific region and (iii) obtaining a composite reinsurance license in China, enabling Life division to offer Life & Health
reinsurance services, SCOR Global Life continues to establish an active infrastructure to participate in economic
developments in these regions.
On its European markets, SCOR Global Life has maintained its positions thanks to its range of services and its strong
presence and commercial activity dedicated to its clients.
In the U.K, SCOR Global Life announced its entry into the U.K. Longevity market in November 2011. It reinsured a
significant share of the longevity risk assumed by Deutsche Bank, following the completion of a GBP 3 billion longevity swap
transaction between Deutsche Bank and the Rolls-Royce Pension Fund. Demonstrating the expertise from this successful
signing SCOR Global Life has continued to negotiate with additional clients.
In August 2011 SCOR Global Life completed the acquisition of the mortality reinsurance business, including the operational
assets and personnel, of Transamerica Re. Immediately after closing of the transaction several projects in all areas of the
business were initiated to achieve a globally harmonised life engine for SCOR.
In 2012 SCOR Global Life successfully continued to integrate the business acquired from Transamerica Re into its existing
business operations, through the transfer and novation of the non-US domestic portfolios acquired to the appropriate
business units. This process, and the consolidation of US domestic organisations and activities within in one operating unit,
are in line with SGL’s global market structure approach. In December 2012 SCOR Global Life Americas announced to offer
an innovative solution for the rapid underwriting of simplified issue life insurance products.
The Asian markets, generally characterized by growing economies, continued to display vigorous development in the life
and health lines of business. Moreover, further growth has been realized in responding to ongoing market demand for
capital motivated reinsurance solutions as well as through the provision of product development support.
An increasing demand can be seen for Family Takaful products, i.e. Islamic life insurance products and SCOR strengthens
the efforts to participate in market growth.
SCOR is consistently vigilant for opportunities in the current market environment.
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