Who Owns Scor Company?

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Who owns SCOR SE?

SCOR SE, a major global reinsurer, has a history rooted in French government backing. Established in 1970 as Société Commerciale de Réassurance, its initial purpose was to support state-controlled insurers.

Today, SCOR is a significant player in the reinsurance market, ranking sixth globally. The company's evolution reflects a shift from its government-backed origins to a more diversified ownership structure.

Understanding SCOR's ownership is crucial for analyzing its strategic decisions and market position. This includes examining its institutional investors and public shareholders, as well as how its governance has evolved. A Scor PESTEL Analysis can provide further context on the external factors influencing the company.

In 2024, SCOR reported EUR 20.1 billion in premiums, demonstrating its substantial global reach across more than 150 countries.

SCOR SE, established in Paris, France, in 1970, began with significant backing from the French government. Initially named Société Commerciale de Réassurance, its early capital structure was state-controlled, with restrictions on outside investment. This foundation set the stage for its evolution from a government-backed entity to a publicly traded company.

Founding Era

SCOR was founded in 1970, with the French government providing crucial initial support. The company's early operations were characterized by state influence and limited external ownership.

Early Ownership Constraints

Government regulations restricted the issuance of shares to outside investors, emphasizing a state-controlled ownership model. This meant individual founders did not hold significant equity stakes in the nascent company.

Merger with UAP Ré

A pivotal moment in SCOR's ownership history was the 1989 merger with UAP Ré, the reinsurance division of Union des Assurances de Paris. This transaction significantly altered the company's ownership landscape.

Shift to Institutional Ownership

Following the merger, SCOR was reorganized under a holding company, HCS. This structure saw major French insurers, Assurances Générales de Paris (AGF) and AXA S.A., each acquiring approximately 20% stakes in HCS.

Transition to Public Entity

This early evolution marked a transition from direct government ownership to a model dominated by large French insurance groups. This laid the groundwork for SCOR's eventual transformation into a publicly traded entity.

SCOR's Business Foundation

Understanding SCOR's early ownership is key to grasping its development. For more on its operational framework, explore Revenue Streams & Business Model of Scor.

The initial ownership of SCOR was heavily influenced by the French state, reflecting its role as a national reinsurer. The 1989 merger with UAP Ré and subsequent reorganization under HCS, involving AGF and AXA S.A., represented a significant shift towards ownership by major French insurance conglomerates, moving away from direct government control and paving the way for future public market participation.

Key Ownership Milestones

SCOR's early ownership history is marked by a transition from state control to significant stakes held by major French insurance entities.

• Founded in 1970 with French government backing.
• Early ownership was largely state-controlled.
• 1989 merger with UAP Ré led to UAP acquiring ~40% control.
• Reorganization under HCS involved AGF and AXA S.A. taking substantial stakes.
• This period set the stage for SCOR's evolution into a publicly traded company.

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SCOR SE's ownership journey began with state backing, evolving into a public entity on Euronext Paris in 1990. The company later delisted from the New York Stock Exchange in 2007, marking a significant shift in its global market presence.

The SCOR company ownership structure is dynamic, with retail investors holding a majority 51% stake as of June 13, 2025. Institutional investors collectively manage 37% of the shares, with significant holdings by ACM Vie S.A. at 5.21%, BNP Paribas Cardif at 5.02%, and Norges Bank at 5.00% as of December 31, 2024. Strategic transactions, such as SCOR's acquisition of 5.01% of its own shares from Covéa in October 2023 and subsequent sale to BNP Paribas Cardif, have aimed to refine the SCOR ownership structure. Understanding who owns SCOR involves recognizing the influence of both individual and institutional SCOR shareholders.

Key Ownership Shifts

SCOR's ownership has seen notable changes, impacting its SCOR company stock ownership. These shifts are crucial for understanding the SCOR company major stakeholders.

• SCOR delisted from the NYSE in 2007.
• Acquisition of 5.01% of SCOR shares from Covéa in October 2023.
• Sale of these shares to BNP Paribas Cardif to normalize the SCOR ownership structure.
• Retail investors currently hold the largest portion of SCOR company ownership.

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As of April 2025, SCOR SE's governance is structured around a Board of Directors composed of 14 members, including two elected by employees. Fabrice Brégier leads the board as Chairman, while Thierry Léger serves as the Chief Executive Officer.

SCOR SE operates under a fundamental principle of one-share-one-vote, meaning each share held grants its owner a single vote at General Meetings of Shareholders. This structure ensures that voting power is directly proportional to share ownership, with no provisions for double voting rights. Employee representatives on the Board also possess voting rights, integrating employee perspectives into the company's decision-making processes. The alignment between the board's proposals and shareholder approval, as evidenced by the unanimous approval of all resolutions at the April 29, 2025, Combined Shareholders' Meeting, suggests a cohesive governance framework and strong shareholder confidence in the SCOR company ownership structure.

Understanding SCOR's Voting Power

SCOR SE's commitment to equitable voting rights is a cornerstone of its corporate governance. This system ensures that SCOR shareholders directly influence the company's direction based on their investment.

• Each share carries one vote.
• No special voting rights are granted.
• Employee representatives contribute to board decisions.
• Shareholder resolutions were unanimously approved in April 2025.

The SCOR ownership structure is designed to reflect a broad base of stakeholders, with the one-share-one-vote principle being central to how SCOR company stock ownership translates into influence. This approach is crucial for understanding who owns SCOR and how decisions are made, particularly when considering the SCOR company's strategic direction, such as its Growth Strategy of Scor. The participation of employee-elected directors further diversifies the perspectives influencing board deliberations, contributing to a more holistic approach to corporate governance and the overall SCOR ownership structure.

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Over the past few years, SCOR SE has seen shifts in its ownership structure, influenced by strategic acquisitions and divestitures. These movements are part of the company's ongoing efforts to optimize its capital and market position.

SCOR SE has demonstrated a commitment to financial resilience and strategic growth, as evidenced by its recent performance and forward-looking plans. The company's proactive management of its shareholding and capital structure underscores its dedication to long-term value creation for its stakeholders.

Financial Performance Highlights

In 2024, SCOR generated EUR 20.1 billion in premiums. The Group maintained a strong estimated solvency ratio of 210% as of December 31, 2024.

Strategic Initiatives

The 'Forward 2026' strategic plan was launched in September 2023. A business restructuring was announced in March 2024 to enhance operational efficiency.

Shareholder Returns and Capital Management

A regular dividend of EUR 1.80 per share for 2024 was approved. The company actively manages its share capital through programs like share buybacks.

Ownership Normalization

The acquisition and subsequent sale of 5.01% of its share capital in October 2023 aimed to stabilize SCOR's ownership structure. This aligns with the company's broader Marketing Strategy of Scor.

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