SCOR has been informed of the decision by Standard & Poor's (S&P) to affirm the financial strength rating for the Group and its main subsidiaries at "AA-", with a "stable outlook", and to maintain the counterparty credit ratings at "AA-/A-1+".
S&P rating highlights:
- "Very strong business risk profile", with a "leading franchise in the U.S. Life reinsurance market and a strong position in various significant markets across the globe";
- "Robust capital adequacy under our risk-based capital model and, according to the regulatory approach, even after severe natural catastrophe losses over the past two years";
- "Very strong" enterprise risk management with a "positive view of SCOR's risk management culture";
- "The management team has a consistent and successful track record of strategic planning, strong execution, and transparent, demanding, and sophisticated financial management. SCOR continues to build on its ability to meet its financial and strategic targets that it has demonstrated over the past 10 years. It has shown flexibility to adapt its strategies as insurance and financial markets conditions change".
"We welcome this affirmation of SCOR's rating by Standard & Poor's as we meet with our clients at the Rendez-Vous de Septembre in Monte Carlo. The rating agency underscores our ability to meet our objectives while combining solvency and profitability. This decision, which clearly demonstrates the soundness of our strategy as a Tier 1 global reinsurer, is an excellent start to our new plan "Quantum Leap"," commented Denis KESSLER
, Chairman & Chief Executive Officer of SCOR.