TRANSFORMING OUR ORGANIZATION SCOR’s transformation is aligned with the Forward 2026 strategic plan and was driven by the following goals: Increased adaptability to change: By modernizing the organization, SCOR has been able to improve reactivity in a fast-changing environment. Improved effectiveness and efficiency: Creating a leaner, flatter, and more agile organization allows for empowerment from the bottomup, ensuring streamlined decision making, reduced complexity, and leading to time and cost savings. Focus on expertise and collaboration: With fewer reporting levels, we will empower employees and reduce silos, thereby emphasizing the impact of each role within the organization and encouraging collaboration across teams. Increased empowerment and accountability: By encouraging an entrepreneurial mindset and reinforcing accountability, teams are empowered to make decisions more quickly and independently. TRANSFORMING OUR CULTURE In parallel to these organizational changes, SCOR’s culture continues to evolve as we embrace The SCOR Way, which is built on our collectively chosen corporate values and serves to guide our actions: • We Care about clients, people, and societies. • We perform with Integrity. • We act with Courage. • We encourage Open Minds. • We thrive through Collaboration. It is critical that these values are reflected in our work as they place clients, employees, and societies at the forefront of what we do. We know our industry has a key role to play in protecting societies and these values guide the solutions we bring to our clients. In 2024, in addition to the goals outlined with their managers, all employees were assigned the goal “Live the SCOR values,” which was considered as 50% of their annual performance as we believe firmly that good performance is defined as much by what we achieve as how we achieve it. By the end of the year, employees were expected to have concrete examples of how they lived each of these values in their day-to-day work and overall performance. . BECOMING THE REINSURER OF THE FUTURE An intentional shift toward empowerment and efficiency 2024 has been an important year for SCOR, both in regards to our corporate values and to the organization of the Group itself. With a far-reaching structural transformation in April, the Group successfully simplified the organizational structure and flattened the hierarchy from ten to seven levels to foster a culture of empowerment and accountability. These strategic changes are designed to help achieve long-term goals with increased adaptability and effectiveness and are supported by our culture of integrity, courage, and collaboration. 52 ACTIVITY REPORT 2024
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