SCOR Continues to Negotiate Sale of Commercial Risk Partners

As previously announced, SCOR has been negotiating the sale of Commercial Risk Partners (CRP), its Bermuda-based alternative risk reinsurance subsidiary, to a potential purchaser pursuant to a letter of intent executed on March 28, 2003.

Those negotiations are actively continuing.

At the same time, as previously announced, CRP is negotiating commutations of business with its ceding companies, and CRP has finalized a commutation in July with one of its largest ceding companies.