Press Release


SCOR’s shareholders overwhelmingly support the company’s Board of Directors, its Chairman & CEO and its Lead Independent Director

SCOR’s shareholders express their opposition to the destabilization attempt led by the activist fund CIAM

SCOR’s shareholders strongly supported the company’s Board of Directors, its Chairman & CEO, Denis Kessler, and its Lead Independent Director, Augustin de Romanet, during today’s AGM. They reaffirmed their total confidence in the governance of the company, overwhelmingly rejecting the resolution proposed by the fund CIAM.


All the resolutions proposed by the Board of Directors were approved by the General Meeting. The resolution proposed by the activist fund CIAM, calling for the removal of Denis Kessler as a director of SCOR, was [overwhelmingly] rejected by more than 74.37% of the votes. The renewal of Augustin Romanet’s mandate as a director, which CIAM had called on shareholders to oppose, was approved by 84.66% of the votes. The resolutions relating to the remuneration of Denis Kessler, which CIAM had called on shareholders to oppose, were also approved, by 54.46% and 54.56% of the votes.


The General Meeting approved the payment of a dividend of EUR 1.75 per share for the 2018 financial year, with the coupon date set at April 30, 2019, and the payment date at May 2, 2019.


The details of the resolution voting results will be online at: www.scor.com later today.


Denis Kessler, Chairman & Chief Executive Officer of SCOR, comments: “The Board of Directors is extremely satisfied to note that the shareholders have strongly supported all its proposed resolutions. The Board is delighted that the shareholders have expressed their deep opposition to the destabilization attempt led by the activist fund CIAM, and is pleased that the shareholders have renewed Augustin de Romanet’s mandate as the Group’s Lead Independent Director. This vote by our shareholders reaffirms their confidence in the Group’s governance in terms of the development of the company, focusing on the twofold objective of profitability and solvency. These votes of confidence constitute a validation of the strategy followed for more than 16 years to raise this global reinsurance group to the highest level and maintain its independence, which is a gauge of its success. SCOR is fully mobilized to use all available means to create value, and is actively preparing its seventh strategic plan, which will be presented in September.”  


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