4.4 Legal risk - Scor

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1.1 Significant events of the year 331 1.2 Balance sheets 332 1.3 Income statements 334 1.4 Table of consolidated off-balance sheet commitments 337 1.5 Notes to the corporate financial statements 338 1.6 Certification of audit of historical financial information 359 1.7 Reconciliation of French GAAP to IFRS 361 330
APPENDIX A: UNCONSOLIDATED FINANCIAL STATEMENTS OF SCOR SE CORPORATE 1 HISTORIC FINANCIAL INFORMATION - CORPORATE FINANCIAL STATEMENTS Pursuant to Article 28 of Regulation (EC) No. 809/2004 of the European Commission, the following information is included by reference in this Registration Document: (i) The corporate financial statements for the year ended 31 December 2011 and the Auditors’ Report pertaining thereto published on pages 349 to 379 and 380 to 381, respectively, of the registration document filed with the Autorité des Marchés Financiers on 8 March 2012 under number D.12-0140 and from pages 329 to 358 and from pages 359 to 360, respectively, of the free translation into English of the Registration Document filed with the Autorités des Marchés Financiers with such translation being available on SCOR's website www.scor.com; (ii) The corporate financial statements for the year ended 31 December 2010 and the Auditors’ Report pertaining thereto published on pages 312 to 342 and 343 to 344, respectively, of the registration document filed with the Autorité des Marchés Financiers on 8 March 2011 under number D. 11-0103 and from pages 292 to 320 and from pages 321 to 322, respectively, of the free translation into English of the Registration Document filed with the the Autorités des Marchés Financiers with such translation being available on SCOR's website www.scor.com. SCOR’s unconsolidated corporate financial statements for the financial year ended 31 December 2012 are shown below: 1.1 Significant events of the year “Significant events of the year” are an integral part of the notes to the unconsolidated corporate financial statements. This year, SCOR SE carried out the following significant transactions: Extention of contingent equity line On 16 May 2012, SCOR SE signed a new natural catastrophe financial coverage facility in the form of a contingent capital equity line with UBS. This new facility is an extension of its existing 2010 contingent capital equity line. Under this new equity line, SCOR benefits from an additional EUR 75 million financial coverage from 1 January 2012 to 31 December 2013, thereby increasing its existing contingent capital equity line from EUR 75 million to EUR 150 million. See Section 3.6.7 – Financial debt and capital management. Extention of CHF perpetual subordinated notes On 10 September 2012, SCOR issued CHF 250 million perpetual subordinated notes, redeemable by SCOR each quarter as at payment of interest dates from 8 June 2018. The strong market demand observed prompted the Group to extend its placements from CHF 250 million to a total of CHF 315 on 24 September 2012. The settlement of the notes took place on 8 October 2012. The coupon has been set to 5.25% (until 2 June 2018) and 3-month CHF LIBOR plus a margin of 4.8167% thereafter. SCOR has entered into a cross-currency swap which exchanges CHF 250 million of the principal into EUR and exchanges the CHF coupon on the notes to EUR 6.2855% and matures on 8 June 2018. SCOR has entered into a second crosscurrency swap which exchanges CHF 65 million of the principal into EUR and exchanges the CHF coupon on the notes to EUR 6.2350% and matures on 8 June 2018. Early redemption of EUR 50 million perpetual subordinated notes During 2012, the Group re-purchased the entire tranche of its EUR 50 million perpetual subordinated Notes, at a price of 80%. The purchase price of this debt at a discount rate gave rise to a consolidated pre-tax profit of EUR 10 million. Merger of PREVOYANCE RE into SCOR GLOBAL LIFE SE The boards of PREVOYANCE RE and SCOR GLOBAL LIFE SE, both affiliates of SCOR SE, agreed that the two entities should be merged with effect from 1 January 2012. As a consequence, PREVOYANCE RE was dissolved and merged into SCOR GLOBAL LIFE SE and SCOR GLOBAL LIFE SE increased its share capital from EUR 274,540,000 to EUR 287,040,000, creating 1,250,000 new shares all subscribed to by SCOR SE. 331
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NOTICE Certain statements contained
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1 Person responsible 8 1.1 Name and
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13 Profit forecasts or estimates 11
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8 PERSON RESPONSIBLE
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1 PERSON RESPONSIBLE 1.1 Name and t
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2.1 Auditors 13 2.2 Resignation or
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14 SELECTED FINANCIAL INFORMATION
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3 GROUP KEY FIGURES (UNDER CURRENT
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4.1 Risk related to the business en
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claims or surrenders of policies th
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B. Life reinsurance The main catego
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statutory reserve requirements or h
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B. SCOR is exposed to Guaranteed Mi
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4.1.9 FINANCIAL RATINGS PLAY AN IMP
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and amortization expenses related t
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F. Deposits with custodians As part
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4.2.2 SCOR FACES RISKS RELATED TO I
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Details of intangible assets, relat
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4.4.2 INCONSISTENT APPLICATION OF E
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See “Appendix B - II. Internal co
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5.1 History and development of the
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proportion of the voting rights hel
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Gerling Global Re Group, which deve
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5.2 Investments 5.2.1 PRINCIPAL INV
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6.1 Primary activities 53 6.2 Princ
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The targets of the strategic plan a
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B. Proportional and non-proportiona
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payment of commercial debts. Surety
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Long-Term Care Long-Term Care (“L
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with local lines of business and po
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transfer solutions (e.g., catastrop
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Retrocession procedures are central
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The portion invested in fixed incom
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6.2 Principal markets SCOR is chara
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On 6 March 2010, STOXX announced SC
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The premiums up for renewal, which
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75 ORGANIZATIONAL STRUCTURE
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E U R O P E 7 ORGANIZATIONAL STRUCT
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7.1.1.2 Project "New SCOR" In conne
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7.2 List of issuer’s significant
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8.1 Major existing or planned prope
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86 OPERATING AND FINANCIAL REVIEW
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9 OPERATING AND FINANCIAL REVIEW Th
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year ended 31 December 2012 down fr
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In 2011, SCOR was affected by the f
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31 March 2014. This transaction suc
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Net investment income and investmen
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IFRS classification In EUR million
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Combined ratio For detailed calcula
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10.1 Capital 103 10.2 Cash flow 103
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FINANCIAL LEVERAGE As at 31 Decembe
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11.1 Research and development activ
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studies and publications produced o
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12.1 Most significant trends in pro
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SCOR Global Life expects business o
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114 PROFIT FORECASTS OR ESTIMATES
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116 ADMINISTRATIVE AND MANAGEMENT B
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14 ADMINISTRATIVE AND MANAGEMENT BO
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Name Date of Birth Other principal
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Clariden Leu and from 10 January 20
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Name Age Current Position Executive
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of Alea Europe from 1999 to 2006, w
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134 REMUNERATION AND BENEFITS
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15 REMUNERATION AND BENEFITS 15.1 A
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and analysts; deepening of the empl
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Subscription and share purchase opt
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Year 2011 Year 2010 Premium/ Gross
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144 BOARD PRATICES
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16 BOARD PRATICES 16.1 Date of expi
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148 EMPLOYEES
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17 EMPLOYEES 17.1 Number of employe
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17.2.2 STOCK OPTIONS HELD BY THE ME
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Options exercised Number of stock o
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Plan Share award rights Price per s
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180 of the Commercial Code, options
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(5) Absolute appliance of Group’s
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The following table shows the free
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Shareholders meeting and Company's
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and, for the not tax resident of Fr
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17.4.2 DEFINED BENEFITS PENSION SCH
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18.1 Significant shareholders known
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Distribution of capital (number of
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On 4 July 2012, Alecta Pensionsför
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19.1 Related party transactions 177
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Amendment #7 to the retrocession ag
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The Board of Directors of SCOR SE,
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absorption of its wholly owned subs
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to the Facility Agreement granted/w
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adjusted on the date of departure b
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188 FINANCIAL INFORMATION CONCERNIN
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20 FINANCIAL INFORMATION CONCERNING
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LIABILITIES AS AT 31 DECEMBER In EU
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20.1.3 CONSOLIDATED STATEMENTS OF C
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20.1.5 CONSOLIDATED STATEMENTS OF C
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20.1.6 NOTES TO THE CONSOLIDATED FI
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• Amendments to IAS 19 - Employee
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Intangible assets The cost of intan
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(e) Cash and cash equivalents Cash
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Impairment of financial assets At e
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available and the reserves are adju
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Shadow accounting For the measureme
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together with actuarial assumptions
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The following table sets forth the
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CASH FLOWS BY SEGMENT The cash flow
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SCOR recognised the redemption rece
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PRO FORMA STATEMENT OF INCOME 2011
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2009 In EUR million (1) Provisional
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The Group conducted its annual asse
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20.1.6.6 NOTE 6 - INSURANCE BUSINES
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(B) MOVEMENTS IN LEVEL 3 FINANCIAL
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Financial lease contracts The Group
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At 31 December 2012 and 2011, the u
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MORTALITY SWAPS On 1 January 2008,
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20.1.6.10 NOTE 10 - ASSUMED AND CED
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Issued share capital The number of
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CAPITAL MANAGEMENT POLICY, OBJECTIV
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Share-based payments The caption
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SCOR has entered into a cross-curre
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SCOR Global P&C The table below sho
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The table below is a reconciliation
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(C) SHARE OF RETROCESSIONAIRES IN C
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(c) Defined benefits pension cost 2
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The following table summarizes the
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The table below presents the change
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The performance conditions will be
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In 2010 the tax rate change impact
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Applying the deferred tax netting m
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These expenses are further allocate
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In the event of termination of the
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SIGNIFICANT SUBSIDIARIES, INVESTMEN
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20.1.6.25 NOTE 25 - COMMITMENTS REC
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and documented before the pricing i
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(iv) Pandemic In Life reinsurance,
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Different types of GMDBs are covere
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(b) Receivables from retrocessionai
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Page 310 and 311: 22 MATERIAL CONTRACTS None. 310
Page 312 and 313: 23.1 Expert’s report 313 23.2 Inf
Page 314 and 315: 314 DOCUMENTS ON DISPLAY
Page 316 and 317: 316 INFORMATION ON HOLDINGS
Page 318 and 319: 318 NON FINANCIAL INFORMATION
Page 320 and 321: 320 FEES PAID BY THE GROUP TO THE A
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Page 332 and 333: 1.2 Balance sheet 1.2.1 BALANCE SHE
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Page 336 and 337: In EUR million NON-UNDERWRITING ACC
Page 338 and 339: 1.5 NOTES TO THE CORPORATE FINANCIA
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Page 362 and 363: 362 APPENDIX B: REPORT OF THE CHAIR
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Page 366 and 367: Pursuant to the Internal Charter, t
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organization, training sessions tar
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For SCOR Global Life: - an internal
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(D) INFORMATION AND COMMUNICATION
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• enhanced audit trail. The initi
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Other information We confirm that t
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APPENDIX C: GLOSSARY* *This glossar
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D DECENNIAL INSURANCE Decennial ins
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M MARINE AND AVIATION INSURANCE ALS
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RETROCESSION Transaction in which t
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elevant at the date of acquisition.
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1 Operating and financial review of
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1.2 Operating results of SCOR SE du
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3.2 Group social indicators 3.2.1 D
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As a global company organised into
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3.2.10 Distribution by age Indicato
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in cooperation with the company doc
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- The items pertain to the entire G
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• Two approaches have been develo
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POLLUTION AND WASTE MANAGEMENT Info
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BIODIVERSITY PROTECTION formation r
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The Group’s French subsidiaries a
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5.5 OTHER ACTIONS TAKEN IN SUPPORT
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7 STATUTORY AUDITORS’REPORT ON TH
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426 APPENDIX E: CROSS REFERENCE TAB
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European Company With a share capit
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4.4 Legal risk - Scor

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