AM Best has decided to confirm the Financial Strength Rating and Issuer Credit Rating of SCOR as ‘A+ Superior’ and ‘aa-‘, respectively.
The rating agency said the move reflects SCOR’s strong balance sheet strength, as well as its operating performance, very favourable business profile and enterprise risk management.
In particular, analysts noted that SCOR’s balance sheet strength is underpinned by risk-adjusted capitalisation that exceeds the level required to support the strongest assessment, as measured by Best’s Capital Adequacy Ratio.
AM Best also expects SOR’s risk-adjusted capitalisation to be maintained at the strongest level prospectively, supported by the reinsurer’s conservative investment portfolio and a robust retrocession programme designed to shield its capital base.
The agency concludes that SCOR is “well-positioned to benefit from improving property/casualty reinsurance market conditions and positive pricing momentum.”
“We welcome A.M. Best’s decision to affirm SCOR’s ratings,” said Denis Kessler, Chairman & Chief Executive Officer of SCOR.
“This decision further testifies to the soundness of our strategy as a Tier 1 global reinsurer and the resilience of our business model to shocks,” Kessler continued.
“We are entering the renewal season with confidence. SCOR is well positioned to accelerate its growth in a supportive market environment, benefiting from positive pricing dynamics and improving terms and conditions in P&C reinsurance, while consolidating its position in the top tier of the Life reinsurance market.”
