SCOR announces a one-off bonus to employees in France and awards performance shares to involve all its employees worldwide in the Group’s success
SCOR has decided, through a collective agreement, to award a one-off bonus of EUR 1,000 to all employees in France whose salary is less than 1.5 times the minimum wage, and a bonus of EUR 500 to all employees whose salary is between 1.5 and 2.5 times the minimum wage.
30% of SCOR’s employees in France will receive this bonus, which will be paid by the end of February 2019.
The bonus, which is exempt from tax and social charges, is being awarded in the context of the measures approved by the French parliament in December 2018 to boost purchasing power.
This comes in addition to the performance shares awarded in December 2018 to all Group employees worldwide, with nearly one million SCOR shares distributed to more than 2,800 employees.
SCOR’s performance share award policy has been a strong component of its remuneration policy since 2005. This deferred compensation, which vests in 3 years, is a way to align the interests of the Group’s shareholders and employees over the long term. The Group acquires awarded shares on the secondary market to avoid any dilution for shareholders.
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