The SCOR group was the first French listed company to have chosen the status of Societas Europaea, and thus the first to use the "SE" acronym on the financial markets. The Group's three companies (SCOR, SCOR Global P&C and SCOR Global Life) have also adopted this status.
In July 2007, the SCOR group adopted the status of Societas Europaea, thus became the first French listed company to use the "SE" acronym following its name. The Group's three companies (SCOR, SCOR Global P&C and SCOR Global Life) have also adopted this status.
By adopting this status, setting up a Joint Committee of Societas Europaea, and creating branches, SCOR has reinforced its European identity and gained access to the "single passport" (Home Country Control) provided for by the reinsurance directive.
The new legal regime of the Societas Europaea, resulting from the European directive of 08 October 2001, transposed to French legislation by the law of 26 July 2005, corresponds precisely to the European and therefore transnational nature of the Group.
The Societas Europaea status facilitates cross-border mergers in Europe
- It offers greater flexibility when allocating capital between the Group's European entities, by transforming the Group's European subsidiaries into branches.
- It guarantees rights for the employees, whose social status remains unchanged, and brings negotiations on the involvement, consultation and participation of employees to a European level.