17 July 2017 - N° 16
SCOR announces an agreement with the FNMF and Matmut to acquire 100% of MutRé
SCOR announces the signature of an agreement with the Fédération nationale de la Mutualité Française and Matmut with a view to the acquisition of 100% of the shares of MutRé S.A.
The ratification of the agreement by MutRé's other shareholders (which represent approximately 15% of MutRé's capital) is expected in October 2017 at the latest.
SCOR has been a 33% shareholder and a major technical and commercial partner of MutRé since the company was created in 1998. The acquisition of MutRé will enable SCOR to further strengthen its Life and Health offering to the French Mutual insurance industry.
The acquisition of MutRé, which will have an accretive impact on SCOR's ROE and earnings per share, is consistent with the Group's strategic pillars and the objectives set out in its strategic plan "Vision in Action", and fully respects SCOR's relationships with its mutual insurance partners.
The transaction, which is subject to the authorization of the ACPR and the relevant competition authorities, would be finalized in early January 2018.
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SCOR does not communicate "profit forecasts" in the sense of Article 2 of (EC) Regulation n°809/2004 of the European Commission. Thus, any forward-.looking statements contained in this communication should not be held as corresponding to such profit forecasts. Information in this communication may include "forward-looking statements", including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions and include any statement which does not directly relate to a historical fact or current fact. Forward-looking statements are typically identified by words or phrases such as, without limitation, "anticipate", "assume", "believe", "continue", "estimate", "expect", "foresee", "intend", "may increase" and "may fluctuate" and similar expressions or by future or conditional verbs such as, without limitations, "will", "should", "would" and "could." Undue reliance should not be placed on such statements, because, by their nature, they are subject to known and unknown risks, uncertainties and other factors, which may cause actual results, on the one hand, to differ from any results expressed or implied by the present communication, on the other hand.
Please refer to the 2016 reference document filed on 3 March 2017 under number D.17-0123 with the French Autorité des marchés financiers (AMF) posted on SCOR's website www.scor.com (the "Document de Référence"), for a description of certain important factors, risks and uncertainties that may affect the business of the SCOR Group. As a result of the extreme and unprecedented volatility and disruption of the current global financial crisis, SCOR is exposed to significant financial, capital market and other risks, including movements in interest rates, credit spreads, equity prices, and currency movements, changes in rating agency policies or practices, and the lowering or loss of financial strength or other ratings.
The Group's financial information is prepared on the basis of IFRS and interpretations issued and approved by the European Union. This financial information does not constitute a set of financial statements for an interim period as defined by IAS 34 "Interim Financial Reporting".
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