A.M. Best has decided to affirm SCOR’s Financial Strength Rating of ‘A+ (Superior)’ and its Long-Term Issuer Credit Ratings of ‘aa-’.
According to A.M. Best, this decision reflects “SCOR’s balance sheet strength, which A.M. Best categorises as very strong, as well as its strong operating performance, very favourable business profile and very strong enterprise risk management.”
A.M. Best also adds that “SCOR’s balance sheet strength is underpinned by its consolidated risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio, which remained at the strongest level as at year-end 2018. A.M. Best expects “risk-adjusted capitalisation to be maintained at the strongest level prospectively, supported by SCOR’s conservative investment portfolio and robust retrocession programme designed to shield its capital base.”
The agency concludes that “SCOR is a top tier global reinsurer. The group’s internationally recognised franchise, long-standing client relationships and technical expertise allow SCOR to effectively manage local and global reinsurance market cycles.”
Denis Kessler, Chairman & Chief Executive Officer of SCOR, comments: “We are pleased with the rating agency A.M. Best’s decision to affirm the Group’s Financial Strength Rating of ‘A+ (Superior)’ and its Long-Term Issuer Credit Ratings of ‘aa-’. Emphasizing SCOR’s ability to successfully combine growth, solvency and profitability, the rating agency insists on the Group’s strong operating performance, its very favourable global business profile and very strong enterprise risk management. This decision, which clearly demonstrates the soundness of our strategy as a Tier 1 global reinsurer, is an excellent start to our new plan ‘Quantum Leap’.”
The A.M. Best press release is available on the agency’s homepage at the following address: