15Dec15

Press release

Group

Moody’s provides further recognition of SCOR’s financial strength with a positive outlook to the Group’s A1 rating

Moody’s Investors Service has raised the outlook of SCOR to “positive” from “stable”, and has affirmed its financial strength rating of “A1” and its “A3” (hyb) subordinated debt rating. Moody’s has also revised to “positive” the outlook of various SCOR SE subsidiaries and affirmed their ratings at “A1”.

Moody’s Investors Service has raised the outlook of SCOR to “positive” from “stable”, and has affirmed its financial strength rating of “A1” and its “A3” (hyb) subordinated debt rating. Moody’s has also revised to “positive” the outlook of various SCOR SE subsidiaries and affirmed their ratings at “A1”. 
 
According to Moody’s, this decision reflects “the continued improvement in SCOR’s market position and franchise, the rating agency’s expectation of a continued high stability of SCOR’s earnings resulting from the group’s diversified business model and a lower exposure to the most volatile reinsurance segments than peers, as well as SCOR’s strong capitalisation and risk management”. 
 
Referring to SCOR’s market position, Moody’s recognises that “SCOR is one of the reinsurers which has benefited the most, and will continue to benefit, from the structural changes in ceding companies’ behaviours.” In addition, Moody’s says that “primary insurance companies favour reinsurers that can underwrite across diverse geographies or products and SCOR has established itself as one of these reinsurers”.
 
Moody’s recognises SCOR’s diversification strategy, highlighting “the combination of the strengthened franchise in P&C and the very strong franchise in the Life reinsurance segment”. This positions the group well compared with Moody’s Aa market position expectations. Moody’s also emphasises that SCOR’s “capital diversification benefits arising from the group’s balanced business profile are reflected in SCOR’s Solvency II ratio”.
 
 
Denis Kessler, Chairman and CEO of SCOR, comments: “Moody’s decision is a further illustration of the strengthened financial security that SCOR brings to its clients. This positive outlook follows the upgrades to “AA-” by S&P and Fitch and the positive outlook by AM BEST. It confirms SCOR as a Tier 1 global reinsurer and reflects the continued improvement in SCOR’s market position. SCOR’s teams are motivated more than ever to provide their clients worldwide with the Group’s first-class P&C and Life reinsurance services”.
 
 
Moody’s press release is available on the agency’s homepage at the following address: https://www.moodys.com/

Contact

Marie-Laurence Bouchon

Group Head of Communications

+33 (0)1 58 44 75 43

mbouchon@scor.com

 

Ian Kelly

Head of Investor Relations

+44 203 207 8561

ikelly@scor.com