Consistency and transformation
SCOR is pleased with Moody’s decision to upgrade the rating of the Group and its subsidiaries from “Baa1” to “A3, stable outlook”. The Group’s debt ratings have also been raised by one notch.
SCOR announces a new appointment.
SCOR is pleased with the decision by AM BEST to raise the rating of the Group and its subsidiaries from « B++, positive outlook» to « A-, stable outlook ». The rating of Revios, which had been placed under review with negative implications upon the announcement following its combination with SCOR, has been affirmed « A-, stable outlook ».
The completion of the combination of Revios (Revios Rückversicherung AG) and SCOR remains subject to receipt of regulatory authorizations from the insurance supervisory commissions (or the equivalent bodies) in 7 jurisdictions where the Group operates and also to the approval of the anti-trust authorities in 4 jurisdictions, particularly the European Union.
2006 First Half Results.
The United States District Court for the District of Massachusetts ordered on the 16th August 2006 that the case brought by the Highfields investment funds against SCOR be dismissed without prejudice due to the Highfields investment funds' failure to establish the Court's subject matter jurisdiction.
Following today’s decision by the SCOR Board of Directors, SCOR will become the first French listed company (SCOR SA) to adopt the status of Societas Europaea. This creation of a Societas Europaea will take place by ways of transformation. SCOR Vie, its operating life reinsurance subsidiary, will also adopt Societas Europaea status by means of transformation.
Successful completion of a EUR 350 million subordinated debt issue as part of the Revios acquisition
The EUR 350 million deeply subordinated bond issue launched today by SCOR, as part of the financing of the Revios acquisition, has been a great success.
The SCOR group has placed its property investments within a single property company, SCOR-AUBER, a limited liability subsidiary 100% owned by SCOR S.A.
Acquisition of Revios: strong strategic coherence.