A.M. Best has upgraded the Insurer Financial Strength and Long-Term Credit and ratings of SCOR SE and its main subsidiaries from “A-” to “A”(Excellent) and “a-” to “a” respectively. 

 

According to the rating agency, this decision reflects “the continuing resilience of SCOR’s risk-adjusted capitalisation, its consistent operating performance and the quality of its enterprise risk management”.

 

The last rating change made by A.M. Best was the upgrade of SCOR SE’s “A-” rating from “stable” to “positive” on 4 September 2009. 

 

Denis Kessler, Chairman and Chief Executive Officer of SCOR, commented: “The upgrade of our rating from “A-” to “A” by A.M. Best is a new illustration of the strengthened financial security that SCOR brings to its clients. This was one of the objectives set by the Dynamic Lift V2 strategic plan for 2007-2010. We are reaffirming this orientation as part of the “Strong Momentum” plan, which we presented for the period 2010-2013, targeting an “AA” level of financial security for our clients. This decision by A.M. Best, which has come before the 2011 renewals period, will enable us to further improve our positioning, particularly on the North American market”. 

 

Fitch had upgraded the outlook on the “A” rating of SCOR SE and its subsidiaries from “stable” to “positive” for Insurer Financial Strength (IFS) and Long-term Issuer Default Ratings (IDRs) on 24 August 2010. 

 

The A.M. Best press release is available on the agency’s homepage at the following address: 

http://www.ambest.com.