• Compliance

  • SCOR is a leading global reinsurer, with 37 offices worldwide, 5,000 clients, and more than 3,500 employees. The Group is committed to conducting its global business activities in line with all applicable laws and regulations.

    SCOR conducts its business in accordance with the Group values (Care, Collaboration, Courage, Integrity, Open Minds) and the United Nations Global Compact (principle-based framework for business stating ten principles in the areas of Human Rights, Labor, Environment and Anti-Corruption), all of which is set out in our Code of Conduct.

    Code of Conduct Financial Crime Fraud SCORSpeakUP - Report a concern
    Data Protection Conflict of Interest Anti-Trust

    Code of Conduct

    Man in suit stacking wooden blocks with code of conduct icons; code, integrity, honesty, respect, and ethics, the foundation of a strong corporate code of conduct

    At SCOR, we believe that “Compliance starts with you,” which entails a commitment from all employees to maintaining the highest standards of ethics, integrity, and professionalism.
    This is why SCOR’s Code of Conduct is so important for all SCOR employees. It serves as the guiding compass for their actions and decisions, it outlines the principles and values we uphold as a company, and it sets the expectations for how we conduct ourselves in the workplace and beyond, with our business partners and shareholders.
     

    The Code of Conduct is complemented by dedicated Policies and Guidelines establishing the minimum compliance standards and procedures applicable throughout the SCOR Group.

    Financial Crime

  • Businessmen make an agreement with the money proposed his partner to bribe in the office and make a contract under an agreement. Illegal money fraud The concept of bribery and corruption

    As part of its longstanding participation in the United Nations Global Compact, SCOR is aligned with the Ten Principles, including the fight against corruption. The Group has adopted a zero-tolerance approach to corruption (including bribery and influence trafficking). Through the Group Management Standard on Anti-Corruption, SCOR defines corruption and provides Employees with guidance on identifying and preventing corrupt practices. In line with applicable anti-corruption laws, SCOR maintains a global anti-corruption framework that includes regular corruption risk assessment, effective compliance controls, training and reporting.

    To promote transparency and compliance with SCOR standards, the Group maintains a Gift and Event Register in which Employees are required to report all Gifts, Meals / Drinks and Professional Events, whether offered or received, above the applicable regional disclosure thresholds.

    Money laundering concept with a hand full of US $100 dollar bills

    SCOR is committed to conducting its business in accordance with the applicable anti-money laundering & financing of terrorism requirements. This involves a strong framework comprising regular AML/CFT risk assessment of SCOR activities and a Know-Your-Client process with specific enhanced due diligence for high-risk clients. When a suspicious transaction is identified, it must be referred to the Regional Compliance Officer for investigation and recommendation and reported to the relevant authorities if applicable.

    Sanctions list is shown on the conceptual photo

    As an international group, SCOR is committed to full compliance with all applicable sanctions and embargo programmes. This includes, without limitation, economic and financial sanctions administered by the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC), other applicable U.S. sanctions measures, and restrictive measures imposed by the European Union and its Member States, the United Kingdom, and the United Nations Security Council.

    SCOR operates a risk-based approach to sanctions compliance. This involves a three-step process: evaluating business opportunities before accepting risk, monitoring exposures whilst on risk, and conducting appropriate checks before paying claims.

    SCOR engages in business with 5,000 clients worldwide and maintains 37 offices across five continents. However, SCOR does not operate any offices in, nor does it target the development of business relationships involving, the following jurisdictions: North Korea, Cuba, Syria, Iran, Russia, Belarus, the occupied territory of Ukraine, and Sudan.

    SCOR has no appetite for risks that present exposure to applicable international sanctions. SCOR will not participate in, or facilitate, any activity that would constitute circumvention or evasion of EU, US, UK, or UN sanctions.

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    Fraud

    Masked, no sincerity of doing business together, fraud

    SCOR defines fraud as an intentional deception made for personal gain or to damage another individual or entity. Fraud can be internal or external to SCOR.

    SCOR takes a zero-tolerance approach to fraud and is committed to acting professionally, transparently and with integrity in all its business dealings.

    To prevent and manage fraud, SCOR relies on a strong Fraud Compliance Framework, including fraud risk assessment, dedicated controls, risk awareness and reporting. In addition, SCOR applies the four-eyes principle to the most significant decisions, establishing a culture of accountability and preventing fraudulent activities.

    Having noted an increase in fraudulent acts aimed at extracting funds from individuals and entities (emails or calls containing fraudulent links or contacts and misusing the name of SCOR and the identity of its employees), SCOR encourages vigilance through a dedicated fraud awareness page on its website.

    SCORSpeakUp - Report a concern

    Close up of colleagues gesturing while talking at business meeting

    SCOR supports an environment where everyone feels comfortable speaking up. All employees and third parties (shareholders, suppliers, clients, etc.) are encouraged to report any conduct they believe violates laws, regulations, internal policies, or our Code of Conduct.

    There are several channels available for reporting actual or suspected misconduct:

    • Internally & externally through a dedicated SCOR SpeakUp platform, under strict confidentiality and anonymity. The reported concern will be directly routed to the appropriate investigation team depending on the region concerned
    • Internally to the Regional Compliance Officers
    • Externally to the relevant competent external authority (e.g., a local regulator)
       

    SCOR has established a Reporting Concerns Committee to ensure consistency in the reported concerns process and the corrective measures taken when allegations are confirmed.

    SCOR prohibits any form of actual, threatened or attempted retaliatory action against anyone who, in good faith:

    • reports suspected or actual misconduct; or
    • participates in a reported concerns investigation or assists with investigations arising from a reported concern.

    Data Protection

    Data written on a post it held by hands concept

    Data lies at the heart of SCOR’s business. It drives informed decision-making as a manager of risk, capital, and resources, helping us deliver value to clients and partners.

    We recognize that there are different types of data, such as confidential business insights or personal information. That’s why we are fully committed to safeguarding all types of data with the highest standards of integrity and care.

    Our approach is guided by a robust framework of policies and principles, including our Code of Conduct and Group Data Protection Policy to comply with data protection and privacy regulations. The Data Protection Officer oversees the implementation and continuous improvement of our Group Data Protection Framework, supported by a network of experts across all SCOR entities.

    As we embrace innovation, including the use of emerging technologies like Artificial Intelligence (AI), we extend these protections to new frontiers. Our Group Policy on Artificial Intelligence reflects our commitment to transparency, accountability, and ethical data use in AI applications.

    To learn more about data protection at SCOR please read our Privacy Notice.

    Conflict of Interest

    Human hands blocking wooden sticks

    Because transparency and integrity are two pillars of SCOR’s Compliance Framework, it is SCOR’s policy to disclose any potential conflicts of interest and to avoid any actual conflict of interest across all of its business activities.

    Disclosure of a potential conflict of interest is mandatory, regardless of a person’s position within SCOR. In addition, an annual Conflict of Interest campaign requires more exposed employees to complete a conflict-of-interest disclosure form.

     

    Anti-Trust

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    Actively committed to its decision-making independence from its competitors, SCOR adheres to a fair competition landscape that protects a free-market economy and continues to benefit clients. Every employee must comply with the relevant antitrust/competition laws existing at both national and international levels and enforced by Competitions Authorities.

    Through a dedicated policy, we are committed to avoiding all types of anti-competitive agreements, information exchanges or concerted practices, abuses of dominant market positions, and any operations which create dominant positions or significantly reduce competition. This concerns our interactions with competitors, our relationships with clients, companies and other business partners, and our participation in industry associations, working groups, and similar gatherings.

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