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FORM 6-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Section 13a-6 or 15d-16
of the Securities Exchange Act of 1934
For the month of: December 2004
001-14518
(Commission File Number)
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SCOR
(Translation of registrant's name into English)
1, Avenue du General de Gaulle
92074 Paris-La Defense Cedex, France
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F |X| Form 40-F |_|
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by regulation S-T Rule 101(b)(1); |_|
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by regulation S-T Rule 101(b)(7); |_|
Indicate by check mark whether by furnishing the information contained
on this Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes |_| No |X|
If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-_____.
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Scor considers jury's verdict on the 9/11 attack on the WTC to be
contrary to terms of insurance coverage in force and to the
intent of the parties
On December 6, 2004, the New York jury in the trial regarding the insurance
coverage of the World Trade Center rendered a verdict that the attack on the WTC
on September 11, 2001 constituted two occurrences under the property insurance
policies issued by Allianz Global Risks U.S. Insurance Company and the eight
other insurers of the WTC that were parties to this trial.
SCOR, a reinsurer of Allianz, considers the jury's verdict to be contrary to the
terms of the insurance coverage in force and to the intent of the parties. SCOR
will fully support Allianz's efforts to overturn the verdict. A separate
appraisal procedure is underway to determine the amount of the indemnification
due from the insurers resulting from the destruction of the WTC. The amount of
indemnification determined in that procedure could be substantially below two
full occurrence limits and could be less than one full policy limit. SCOR is
continuing to evaluate the potential additional indemnification, if any, that
might result from that verdict.
Success of the Oceane 2004-2010 issue
SCOR successfully issued at the end of June 2004 bonds convertible and/or
exchangeable into new or existing shares of SCOR ("OCEANE") due January 1, 2010
for an amount of EUR 200 million. SCOR took advantage of market opportunities at
that time to proceed with this OCEANE issue in order to improve the structure of
its existing indebtedness by extending its maturity, in particular by
contributing in priority to the refinancing of its outstanding 1.00 % OCEANE
convertible bonds due January 1, 2005.
CAUTIONARY STATEMENT WITH RESPECT TO FORWARD-LOOKING STATEMENTS
All statements contained herein, as well as oral statements that may be
made by us or by officers, directors or employees acting on behalf of SCOR
related to such events that are not statements of historical fact constitute
"forward-looking statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995, specifically Section 27A of the U.S. Securities
Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of
1934, as amended, including, without limitation, statements relating to the
future outcome of the World Trade Center litigation and the amount of
indemnification determined in that proceeding. Readers are cautioned not to put
undue reliance on forward-looking statements because actual events and results
may differ materially from the implied or expected results described by such
forward-looking statements. Many factors may influence SCOR's actual results and
cause them to differ materially from the implied or expected results as
described in such forward-looking statements, including, without limitation, the
outcome of the U.S. legal proceedings after the conclusion of all appeals and
the allocation of liability, amount of damages and amount of indemnification
ultimately allocated to SCOR and its affiliates in the U.S. legal proceedings
related to the World Trade Center litigation at the conclusion of such
proceedings, the risks identified in "Item 3.D - Risk Factors" of SCOR's most
recent annual report on Form 20-F filed with the U.S. Securities Exchange
Commission (the "SEC") and its other filings with the SEC and other matters not
yet known to SCOR or not currently considered material by SCOR.
All forward-looking statements attributable to SCOR, or persons acting
on its behalf, are qualified in their entirety by these cautionary statements.
SCOR disclaims any intention or obligation
to update and revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
SCOR
By: /s/ Marcel Kahn
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Name: Marcel Kahn
Title: Chief Financial Officer
Date: December 21, 2004