7 September 2016 - N° 19
The Board of Directors of SCOR SE will propose the renewal of Denis Kessler's mandate at the 2017 Combined Shareholders' Meeting
On the proposal of its committee members in charge of nominations, SCOR's Board of Directors has unanimously decided to propose, at the Combined Shareholders' Meeting of 27 April 2017, the renewal of Denis Kessler's director mandate for a period of four years, with a view to his reappointment by the Board as Chairman and Chief Executive Officer of the Group.
Claude Tendil, Lead Independent Director and Chairman of SCOR's Compensation and Nomination Committee, comments: "Under the impetus of Denis Kessler, SCOR has defined and successfully implemented five consecutive strategic plans, which have enabled it to rise to the top tier of major global reinsurers. Over the last ten years, SCOR has almost tripled its gross written premiums, with EUR 13.7 billion expected for 2016, while at the same time almost doubling its shareholders' equity, which reached EUR 6.3 billion at the end of June 2016. Its rating by Standard and Poor's has risen from BBB- in 2003 to AA- today. With the "Vision in Action" plan, SCOR affirms its ambitions for the next three years and the continuation of its strategy. By announcing its decision to propose the renewal of Denis Kessler's mandate for four years at the 2017 Combined Shareholders' Meeting, the Board of Directors has expressed its total confidence in the Executive Committee, as well as in all of the Group's employees and their ability to achieve the objectives of this new plan."
Group Head of Communications
+33 (0)1 58 44 76 10
Head of Investor Relations
& Rating Agencies
+33 (0)1 58 44 71 68
SCOR does not communicate "profit forecasts" in the sense of Article 2 of (EC) Regulation n°809/2004 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 the 2015 reference document filed on 4 March 2016 under number D.16-0108 with the French Autorité des marchés financiers (AMF) posted on SCOR's website www.scor.com (the "Document de Référence"), 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.
The Group's financial information is prepared on the basis of IFRS and interpretations issued and approved by the European Union. This financial information does not constitute a set of financial statements for an interim period as defined by IAS 34 "Interim Financial Reporting".The Group's financial information is prepared on the basis of IFRS and interpretations issued and approved by the European Union. This financial information does not constitute a set of financial statements for an interim period as defined by IAS 34 "Interim Financial Reporting".
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: SCOR via Globenewswire