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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+”.
In its most recent report1, S&P highlights SCOR’s:
- “Very strong business risk profile”, with a “leading franchise in the U.S. Life reinsurance market” and a “strong market position in various significant markets around the world, in both Life and P&C reinsurance”;
- “Extremely strong capital adequacy”;
- “Strong financial flexibility, indicated by access to a broad range of sources of capital and liquidity”;
- “Very strong enterprise risk management, characterized by our view of positive risk management culture”.
Denis Kessler, Chairman & Chief Executive Officer of SCOR, comments: “We welcome this affirmation of our rating by Standard & Poor’s. In the run up to the renewal period at the Monte-Carlo Rendez-Vous, this decision fully demonstrates the soundness of our strategy as a Tier 1 independent reinsurer. The rating agency underlines the strong financial flexibility directly linked to our status as an independent listed company. This rating affirmation bears witness to the ongoing success of our “Vision in Action” strategic plan.”
1. February 13, 2018
