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SCOR to appeal EC decision over CCR state guarantee

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SCOR to appeal EC decision over CCR state guarantee

SCORSE intends to file before the Court of First Instance of the EU anappeal to the European Commission's decision over the French government'sguarantee of Caisse Centrale deReassurance SA's natural catastrophe reinsurance business.

The EC confirmed the economic nature of CCR's naturalcatastrophe reinsurance activity and the existence of illegal state aid in thestate guarantee, but added that it considers the state aid "compatiblewith the internal market."

SCOR argued that it is not the French government's role totake catastrophe risks in other countries. CCR, a 100% state-owned company, hascommercial activities outside France.