As of today, SCOR is admitted for the first time to trading in Swiss Francs on the SWX Swiss Exchange in Zurich. The Board of Directors’ decision with regard to this admission to trading, which was announced on 4 April 2007 as part of the acquisition of Converium Holding AG (“Converium”), whose shares are also listed in Swiss Francs on the SWX Swiss Exchange, is down to the SCOR group’s (the “Group”) desire to enable Converium shareholders who have transferred their Converium shares to SCOR to keep their assets on the same stock market and in the same currency, thereby expanding the Group’s shareholder base amongst investors on the SWX Swiss Exchange.  The Group will also benefit from access to a capital market that is both active and deep.  This decision also reflects the Group’s desire to affirm its European roots and to see an increased reflection of its geographical reinsurance business foundations in its shareholder base.  Thanks to the acquisition of Converium, the Group will have a much larger client base in Switzerland, along with a major international operating platform in Zurich.

 

By way of a reminder, SCOR has decided to delist its American Depositary Shares from the NYSE and to end its registration with the American Securities and Exchange Commission (as detailed in the press releases of 4 April, 24 May and 18 June 2007).  The Group intends to do the same with the remaining Converium shares listed in the United States, as soon as Converium’s bond debt is repaid, which is scheduled to take place in December 2007.