This award, created in 1984, distinguishes the figure who has contributed the most over the past year to the development of financial activity in France. The nominations are voted on by a jury comprising over 300 members of the French financial community. Denis Kessler received the award for "Financier of the Year" from Jean-Claude Trichet, former governor of the Bank of France and former President of the European Central Bank.
Denis Kessler succeeds Augustin de Romanet (2011), David de Rothschild (2010) and René Ricol (2009).
Jean-Claude Trichet comments: "Denis Kessler's actions at the head of SCOR over the past few years have enabled a reinsurance group that was in serious difficulty when he arrived to become the fifth largest reinsurance company in the world. It is only logical that this exceptional success story be acknowledged with distinction by the Financier of the Year award. It is also remarkable how SCOR coped with the financial crisis, seeing its rating go up twice at a time when that of other financial institutions was falling. On a more personal note, I would also like to salute the constancy and strength of his commitment to the single currency since the outset".
Denis Kessler, Chairman & CEO of SCOR, comments: "I would like to thank ANDESE, Investir-Journal des finances and all the members of the financial community who took part in the vote for this award, and I am particularly happy to receive it from the hands of Jean-Claude Trichet. I see it as recognition of SCOR's performance over the past few years. The award provides encouragement for all of SCOR's employees to continue this positive momentum, in a context where the recent acquisition of Generali's US Life reinsurance business marks a new stage in our development".
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 6 March 2013 under number D.13-0106 (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
Denis Kessler succeeds Augustin de Romanet (2011), David de Rothschild (2010) and René Ricol (2009).
Jean-Claude Trichet comments: "Denis Kessler's actions at the head of SCOR over the past few years have enabled a reinsurance group that was in serious difficulty when he arrived to become the fifth largest reinsurance company in the world. It is only logical that this exceptional success story be acknowledged with distinction by the Financier of the Year award. It is also remarkable how SCOR coped with the financial crisis, seeing its rating go up twice at a time when that of other financial institutions was falling. On a more personal note, I would also like to salute the constancy and strength of his commitment to the single currency since the outset".
Denis Kessler, Chairman & CEO of SCOR, comments: "I would like to thank ANDESE, Investir-Journal des finances and all the members of the financial community who took part in the vote for this award, and I am particularly happy to receive it from the hands of Jean-Claude Trichet. I see it as recognition of SCOR's performance over the past few years. The award provides encouragement for all of SCOR's employees to continue this positive momentum, in a context where the recent acquisition of Generali's US Life reinsurance business marks a new stage in our development".
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 6 March 2013 under number D.13-0106 (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