AN EMPHASIS ON PARTNERSHIPS The adoption of new solvency regimes, the macro-economic uncertainty, and the generational shift toward retirement products have had a profound impact on the life insurance industry over the last decade. These factors have led to a higher focus on capital efficiency and consolidation in the life insurance industry. With this in mind, the FinSol team actively builds partnerships with third-party risk partners, increasing SCOR’s ability to respond to these trends. This strategy involves partnering with brokers, banks, asset managers and other key players such as third-party administrators. By pooling risk, distribution, and administration expertise as well as capital, SCOR’s FinSol team is able to effectively address the diverse and complex needs of our clients. A notable example of this partnership approach is in the context of mergers and acquisitions (M&A). SCOR’s FinSol team has developed strong relationships within the L&H insurance ecosystem to bring together a consortium of thirdparty partners. This consortium can provide compelling proposals and competitive pricing as part of M&A and portfolio transfers. For instance, if an acquirer is looking to offload a team handling the distribution and administration of a portfolio of policies, SCOR’s FinSol team can build a consortium that includes a specialized broker or third-party administrator (TPA) to manage distribution and policy administration, several risk carriers to underwrite and monitor claims, and SCOR to optimize required capital and provide risk capacity. This consortium approach offers a differentiated value proposition compared to the traditional route of having only one acquirer. It provides a holistic solution with partners who are knowledgeable about the type of business acquired, ensuring greater certainty of deal execution. This emphasis on partnerships has been a key driver of FinSol’s success in 2024 and in the coming years the team will continue to strengthen relationships with other players in the industry. This strategy will enhance the overall value proposition for our clients as we work together to develop custom solutions that meet their needs. . CELEBRATING A DECADE OF PARTNERSHIP AND GROWTH SCOR’s FinSol team brings innovative solutions through strategic partnerships In 2025 SCOR’s Financial Solutions (FinSol) team will be celebrating ten years of partnership, collaboration, and co-creating custom solutions with our clients. In line with growing demand, we are significantly ramping up our FinSol capabilities, with a specialized team to help clients achieve their capital and financial objectives. FinSol focuses on solutions that address optimization of capital, stabilize profit recognition, finance acquisition expenses, and enable the redeployment of capital tied to in-force business. These solutions are instrumental to support the capital and financial planning of our clients. In the coming years, SCOR aims to grow FinSol significantly, partnering with our clients to deliver solutions tailored to their needs. 78 ACTIVITY REPORT 2024
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