Profile: Scor SE (SCRYY.PK)
28 Apr 2017
SCOR SE, incorporated on January 1, 1956, is engaged in providing life and non-life reinsurance. The Company's segments include SCOR Global P&C (Non-Life) and SCOR Global Life (Life). The Company's divisions include SCOR Global P&C, SCOR Global Life and SCOR Global Investments. SCOR Global P&C, the Company's Non-Life division, operates around the world through the branches of two global reinsurance companies and the branches of a global insurance company, as well as insurance and reinsurance subsidiaries in Spain, Italy, Switzerland, the United Kingdom, Germany, South Africa, Russia, the Americas and Asia Pacific, including China, India, South Korea, Hong Kong and Singapore. SCOR Global Life, the Company's Life division, operates around the world through the branches of two global reinsurance companies, as well as insurance, reinsurance, distribution and distribution solutions subsidiaries in Germany, the United Kingdom, Ireland, Italy, Spain, Switzerland, Netherlands, Sweden, Belgium, Canada, the United States, Latin America, Russia, South Africa, Australia, New Zealand, China, Singapore, Malaysia and South Korea. SCOR Global Investments manages the investment portfolio of the Company's legal entities.
The Company's Non-Life segment is divided into four business areas: Property and Casualty Treaties; Specialty Treaties; Business Solutions (underwriting of large corporate accounts), and Business Ventures and Partnerships. The Company's Property and Casualty Treaties business area underwrites proportional and non-proportional reinsurance treaties. The Company's property treaties cover damage to the underlying assets (automobiles, commercial premises or industrial sites) and direct or contingent business interruption losses caused by fire or other perils, including natural catastrophes. Its casualty treaties typically cover original risks of general liability, product liability or professional indemnity. Its Specialty reinsurance activities include credit and surety, decennial insurance, aviation, space, marine, engineering, agricultural risks and alternative solutions. The Company underwrites these risks through proportional and non-proportional treaties, as well as facultative reinsurance.
The Company covers all insurable risks of industrial groups and services companies (large corporate accounts). The natural resources insurance covers midstream and downstream business (mainly the oil and gas, refining, petrochemicals, liquefaction, gasification, power generation and distribution, new energy sources and mining sectors), and upstream business (oil and gas exploration and production, offshore construction), shipbuilding groups and oil services companies. The Industrial & Commercial Risks insurance covers manufacturing and heavy industries (automotive, pulp and paper, aeronautics/defense, high tech) and finance and services (infrastructures, intellectual services, general contractors, distribution and trading).
The Company's Global Life segment underwrites Life reinsurance business in the product lines, such as Protection, Financial Solutions and Longevity. Protection encompasses traditional Life reinsurance business on living and death benefits. The main risks undertaken are mortality, morbidity and behavioral risks for individuals and groups of individuals. The Company underwrites mortality risk in all the geographical markets in which it operates. Disability insurance mitigates the loss of income when the insured is totally or partially unable to continue his or her professional occupation or any occupation for which he or she is suited due to sickness or accident. Long-Term Care (LTC) insurance covers the inability of the insured to perform predefined activities of daily living. Critical Illness (CI) insurance typically pays a lump sum benefit, to be used at the policyholder's discretion, if the insured suffers from a serious condition and survives a defined period. Medical insurance covers medical and surgical expenses incurred by the insured person. Personal Accident insurance pays a lump sum benefit if the insured person dies or is seriously injured as a result of an accident. Financial Solutions combines traditional Life reinsurance with financial components providing liquidity, balance sheet, solvency and/or income improvements to the client. Longevity products cover the risk of negative deviation from expected results due to the insured or annuitant living longer than assumed in the pricing of the cover provided by insurers or pension funds.
The Company competes with Swiss Re, Munich Re, Hannover Re, Partner Re, RGA, Chubb, Axis Capital, TransRe, Odyssey Re, GenRe, Everest Re and Lloyd's of London.
5, avenue Kleber