4.4 Legal risk - Scor

As a global company organised into six Hubs located in the world’s main financial centers, SCOR offers competitive
base salaries in order to position itself as a competitive player on the labour market and attract and retain talent.
SCOR maintains a holistic approach to compensation. Compensation for both Partners and employees comprises
multiple components: a fixed and a variable part, an immediate and a deferred part, an individual and a collective part.
The components include base cash salary, annual cash bonus, shares and options where applicable, pension schemes
as well as other benefits.
Base salaries are set according to criteria that consider a variety of factors, such as conditions on the local labour
market, professional education and professional experience before entering SCOR, the accumulated expertise, the
present position of the jobholder, and his responsibilities.
SCOR reviews the base salaries on a yearly basis to reward individual performance as well as when new
responsibilities are assumed by the job-holder. An automatic adjustment to inflation is not applied as a general rule and
is only granted in the few countries where it is legally required.
SCOR has established a “Partners” Program. This program, which aims to involve the Partners to the capital of the
Group, applies to approx. 25 % of the total number of employees. It is a specific and selective program in terms of
sharing information, career development and compensation schemes.
There are four main Partner Levels: Associate Partners (AP), Global Partners (GP), Senior Global Partners (SGP), and
Executive Global Partners (EGP). With the exception of the EGP level, these levels are then divided into two levels,
allowing seniority or special achievement promotions.
The Company has a formal, carefully designed procedure for appointing and promoting Partners. Appointments and
promotions are made every year during an Executive Committee (“COMEX”) session. Candidates must have
consistently demonstrated their skills, leadership and commitment in the past.
For the non-Partners employees the SCOR cash bonus reward individual performance over the previous year.
Depending on the rating received in the individual appraisal by the employee’s direct superior, the bonus varies
between 0% and 6%. This scale is increased by a multiplier (2 or 3) in some Hubs in order to take account specific local
labor markets.
For Partners, the SCOR bonus system is linked directly to the staff individual performance appraisal (corresponding to
pre-defined ranges) and also to the Return on Equity that SCOR achieved in the past financial year.
The cash bonus is calculated based on the annual gross salary. The components of the Partners’ bonuses are linked to
their Partnership Level.
The Partners of SCOR are also eligible for free shares and stock options. However, this does not mean that an
allocation has to occur every year or that every Partner will receive an allocation. The process is supervised by the
Compensation and Nomination Committee which consists only of independent members of the Board of Directors who
are informed of all the individual shares and options grants.
Moreover a new compensation scheme has been implemented for the benefit of selected managers and executives of
the Group with the goal of retaining key employees while extending the scope of performance measurement.
This new compensation scheme, the Long Term Incentive Plan (LTIP), thus reflects the Group’s desire to implement
compensation schemes in accordance with best market practices, thereby enabling us to more deeply involve our key
employees in the long-term development of the Group.
In addition, the Group pursues a policy of employee shareholding which resulted in 221,160 shares being allocated to
non-Partners in 2010, 141,020 shares in 2011 and 168,440 for 2012.
3.2.9 The employer social security contributions
Indicator “Grenelle II”: Compensation (amounts of the employer social security contributions)
Amounts of the employer social security contributions paid in 2012
Hub
(In EUR Thousands)
Hub Paris 32,921
Hub Americas 12,806
Hub Zurich 3,030
Hub Köln 2,554
Hub London 5,801
Hub Singapore 1 ,347
TOTAL 58,459
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