20Jun14

Press release

Group

SCOR wins the Trading Risk "Life Transaction of the Year” Award for its first extreme mortality risk transfer contract with “Atlas IX”

The Trading Risk Awards ceremony is held each year to acknowledge the hard work and professionalism of the (re)insurance convergence market.

On 19 June 2014 in London, SCOR received the “Life Transaction of the Year” Award from the industry-leading newsletter Trading Risk, for its extreme mortality risk transfer contract with Atlas IX.
 
The Trading Risk Awards ceremony is held each year to acknowledge the hard work and professionalism of the (re)insurance convergence market.
 
According to the Awards jury, Atlas IX was “remarkable” for having set a new benchmark in terms of low attachment point for extreme mortality risk, thereby bringing investors much closer to the risk. Moreover, it enables an accelerated bond pay-out.
 
The Atlas IX transaction closed successfully on 11 September 2013, securing SCOR protection against extreme mortality in the United States of USD 180 million. Aon Benfield Securities Inc. acted as sole structuring agent on the transaction, together with Natixis and BNP Paribas as joint bookrunners.
 
 
Paolo De Martin, CEO of SCOR Global Life, comments: "We are delighted to have received this award for Atlas IX, which highlights SCOR Global Life’s dynamism and innovative capabilities, in particular in terms of risk transfer solutions. The Atlas IX transaction mitigates the increased pandemic exposure following the Group’s strategic acquisitions in the US Life market and further demonstrates its leveraging of the increasing convergence between reinsurance and capital markets”.

Contact

Marie-Laurence Bouchon

Group Head of Communications

+33 (0)1 58 44 75 43

mbouchon@scor.com

 

Ian Kelly

Head of Investor Relations

+44 203 207 8561

ikelly@scor.com