Standard & Poor’s has raised the outlook on the “A” rating of SCOR SE and its main subsidiaries from “stable” to “positive”.

 

According to the rating agency, “the outlook revision reflects our view of the positive momentum in SCOR's financial profile. This mainly stems from the group's improved earnings, strong capitalization, and a strong enterprise risk management (ERM) program.”

 

S&P had previously upgraded SCOR SE’s rating to “A” on 13 March 2009, before upgrading the Group’s Enterprise Risk Management (ERM) rating from “Adequate” to “Strong” on 4 September 2009. 

 

Denis Kessler, Chairman & Chief Executive Officer of SCOR, commented: “We are pleased with this decision by S&P, which follows on from SCOR rating positive movement by Fitch and AM Best over the past weeks. Over the last few years, and despite an exceptionally serious economic and financial crisis, SCOR has strengthened its growth, profitability and solvency. Our new strategic plan, “Strong Momentum", sets objectives in terms of continuing and increasing this development for the period 2010-2013.”

 

Fitch raised the outlook on the “A” rating of SCOR SE and its main subsidiaries from “stable” to “positive” on 24 August 2010, and AM Best upgraded the Insurer Financial Strength rating of SCOR SE and its main subsidiaries from “A-” to “A” (Excellent) on 10 September 2010.  

 

The Standard & Poor’s press release is available on the homepage of the rating agency’s website at the following address: http://www.standardandpoors.com