SCOR Wins Risk Magazine's 'Insurance Risk Manager of the Year' Award

PARIS, Jan 19 (MARKET WIRE) --
The leading international financial risk publication "Risk Magazine"
awarded SCOR with this year's "Insurance Risk Manager of the Year" award
for a proprietary software tool that SCOR has developed called "The
Economic Scenario Generator (ESG)". The award was bestowed on Dr Michel
Dacorogna, Head of Group Financial Analysis and Risk Modelling at SCOR
and project leader. The Risk Awards are designed to recognise best
practice and innovation in the risk management on financial and
derivatives markets.

The ESG is a software program that uses historical data of selected key
variables for the most relevant economies in order to provide realistic
economic risk scenarios and to determine how such economic risks could
affect SCOR's assets and liabilities. The variables applied are interest
rates (full risk-free government-bond yield curves ranging from 3 month
to 30 year maturities), inflation data, equity indices, exchange rates
against the USD and gross domestic product figures for the most important
currency zones. In addition, the following, especially-relevant factors
for the SCOR portfolio are covered by the ESG: hedge fund index, real
estate index, mortgage-backed security index.

By applying economic scenarios to SCOR's investments, it is possible to
properly assess the risks associated with a particular investment
strategy and in particular the dependence between those risks. An Asset
Liability Management (ALM) model incorporating the economic scenarios
gives SCOR a complete picture of the risks taken and it enables the
company to examine different investment strategies in order to find the
optimum strategy within a predetermined risk framework.

SCOR Chairman and CEO Denis Kessler commented: "SCOR is very proud that
its sound approach is recognized by Risk Magazine and the risk management
community. It is a tribute to the fact that Entreprise Risk Management at
SCOR is not simply a set of nice powerpoint presentations but is lived
successfully through the hard times we are experiencing with appropriate
tools like the ESG and prudent decisions. Group risk management, under
the responsibility of Jean-Luc Besson, have developed impressive tools
and processes to help us cope with the deep financial crisis."

Jean-Luc Besson, SCOR's Chief Risk Officer commented: "SCOR is much
honoured to receive this prestigious award as judged by an editorial
panel of senior risk editors and staff writers. The SCOR Group
congratulates the ESG team for this fabulous recognition. Economic risks
are still frequently underestimated in our industry. SCOR has analysed of
economic risks and how they can affect our balance sheet on the asset and
liability side, which is a corner stone of our risk management."

Besides Dr Michel Dacorogna, the following team members have been
involved in the development of the ESG: Dr Ulrich A. Mueller, Senior Risk
Consultant at SCOR, who designed the mathematics of the tool, Dr Roland
Buergi, business architect and senior risk consultant at SCOR, who
designed and implemented the current version of the software, and Debora
Iannuzzi, Risk Consultant, who has been using the ESG to help design a
structured product to hedge SCOR's interest rate risks and who has been a
major driver in the software development. The IT team at SCOR Switzerland
(Ake Wallin and Friedrich Schmueckle) has also significantly contributed
to the software development and the database establishment that runs in
parallel.

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Forward-looking statements

SCOR does not communicate "profit forecasts" in the sense of Article 2 of
(EC) Regulation n degrees809/2004 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 reference filed with the AMF on 28
March 2008 under number D.08-0154 (the "Document de Reference"), 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.

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