SCOR Global Life supports Sun Life in the first longevity insurance transaction in Canada
(Thomson Reuters ONE) -
Press Release
3 March 2015 - N°04
SCOR Global Life supports Sun Life in the first longevity insurance
transaction in Canada
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SCOR Global Life has entered into a|Contacts
longevity insurance transaction with|
Sun Life Assurance Company of Canada|
(Sun Life). The transaction, which is|Marie-Laurence Bouchon
a first in the Canadian market,|
covers benefits in payment for|Group Head of Communications
pensioners who are members of the|
Bell Canada (BCE Inc.) pension plan.|+33 (0)1 58 44 76 10
The risk of these members living|
longer is transferred from BCE Inc's|mbouchon(at)scor.com
pension scheme to Sun Life and two|
reinsurers. The associated|
liabilities are approximately $ 5 |
billion CAD, which makes this|
transaction one of the largest|
pension scheme longevity insurance| Bertrand Bougon
transactions completed globally. SCOR|
Global Life is assuming a significant|Head of Investor Relations
portion of this risk. The effective|
date of the transaction is 1 January|& Rating Agencies
2015. |
|+33 (0)1 58 44 71 68
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Following SCOR Global Life's numerous|bbougon(at)scor.com
successes in the UK market and the|
pioneering longevity transaction in|
the Netherlands in December 2013, |
this transaction is the first|
longevity insurance transaction SCOR|
Global Life has underwritten in|www.scor.com
North-America. |
| Twitter: (at)SCOR_SE
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SCOR Global Life aims to double its|
longevity business over the course of|
the three-year "Optimal Dynamics"|
plan. Today's transaction marks an|
important step in this direction. |
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Paolo De Martin, CEO of SCOR Global|
Life, comments: "This transaction is|
significant due to its size and the|
fact that it is the first longevity|
insurance transaction in the Canadian|
market. Fully consistent with SCOR's|
"Optimal Dynamics" strategic plan,|
this transaction demonstrates our|
ability to leverage our successes in|
the UK longevity market in order to|
customize a solution for a Canadian|
client. It also further illustrates|
the ability of SCOR Global Life's|
newly created Global Longevity team|
to offer its clients best-in-class|
solutions, leveraging its global|
reach." |
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Forward-looking statements
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 SCOR's Document de référence filed with the AMF on 05 March
2014 under number D. 14-0117 (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".
SCOR Press Release:
http://hugin.info/143549/R/1899134/674684.pdf
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GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Scor via GlobeNewswire
[HUG#1899134]
Unternehmensinformation / Kurzprofil:
Datum: 03.03.2015 - 20:07 Uhr
Sprache: Deutsch
News-ID 375996
Anzahl Zeichen: 7531
contact information:
Town:
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Kategorie:
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