On Friday, July 29, the rating agency S&P affirmed the 'AA-' long-term insurer financial strength and issuer credit ratings on SCOR SE and related subsidiaries and maintained its 'negative' outlook.

"This demonstrates a strong Group Solvency Ratio estimated to be at 240% on June 30, 2022.

SCOR is implementing the required actions to restore its technical profitability and reduce the volatility of its results, while developing its franchise", informed the French reinsurer on its website.