SCOR acknowledges the decision taken by Sompo today not to execute its plan announced on 6 March 2015. This plan included the acquisition of 8.1% of voting rights in SCOR, and an intention to increase its holding to 15% and apply the equity accounting method to its SCOR holding.
SCOR fully respects Sompo’s decision. To SCOR’s knowledge, this decision is not the result of a reassessment by Sompo of SCOR’s financial outlook, business and prospects.
SCOR values Sompo as an important client and also values the longstanding business relationship between the two companies.
When notified of Sompo’s investment in March 2015, SCOR affirmed that this investment would have no impact on its strategic development or its corporate governance and management. SCOR’s strategy remains unchanged, and the Group is on track to deliver on the two strategic targets of its “Optimal Dynamics” plan, profitability and solvency.
As an independent company, reinforced this year by the upgrades of its ratings and the approval of its internal model, SCOR remains focused on providing best-in-class services to its clients, in Japan and throughout the world.
