SCOR welcomes Fitch’s decision to confirm its Insurer Financial Strength Rating of ‘AA-’ and its outlook as stable
SCOR has been informed of Fitch’s decision to affirm the Group’s Financial Strength Rating of ‘AA-‘ (Very Strong) and Long-Term Issuer Default Rating (IDR) of 'A+'. Fitch has also affirmed the ratings of SCOR's core operating subsidiaries. The outlooks are stable.
PUBLISHED AT 9:20 PM CEST
According to Fitch, this decision reflects “SCOR’s “Favourable” business profile within the global reinsurance sector, “Very Strong” risk-adjusted capitalization and “Strong” financial performance.”
Fitch Ratings ranks SCOR’s business profile as “Favourable” compared to that of all other reinsurance companies, as it belongs to a small group of global reinsurers with the scale and financial strength to attract the highest-quality reinsurance business.
Fitch expects that “the impact of the coronavirus, while material, is manageable for SCOR due to the company’s very strong capital position”.
Denis Kessler, Chairman & Chief Executive Officer of SCOR, comments: “We welcome Fitch’s decision to affirm SCOR’s Financial Ratings. This decision testifies to the depth of the Group’s franchise and its superior level of solvency. We are entering the renewal season with great confidence. SCOR is well positioned to accelerate its growth in a supportive P&C market environment, while consolidating its position in the top tier of the Life reinsurance market.”
The Fitch press release is available on the agency’s homepage at the following address:
+33 (0)1 58 44 76 62
+33 1 58 44 86 12