Du är här

2015-09-11

SCOR: A.M. Best provides further recognition of SCOR's financial strength

Press Release

11 September 2015 - N° 26

Contact details

Marie-Laurence Bouchon

Group Head of Communications
+33 (0)1 58 44 76 10

mbouchon@scor.com

Bertrand Bougon

Head of Investor Relations
&Rating Agencies
+33 (0)1 58 44 71 68

bbougon@scor.com

www.scor.com

Twitter: @SCOR_SE

A.M. Best provides further recognition of

SCOR's financial strength

A.M. Best has revised the outlook of SCOR and its main subsidiaries to
"positive" from "stable", as well as affirming the financial strength rating
(FSR) of "A" (Excellent) and the issuer credit ratings (ICR) of "a+". With
regard to SCOR's debt instruments, A.M. Best has also revised the outlook to
positive from stable and affirmed the issue ratings.

According to the rating agency, this decision reflects "the Group's track
record of solid earnings and stability in risk-adjusted
capitalisation despite the prevailing competitive market conditions".

A.M. Best also recognises that"SCOR has strengthened its competitive position
within the global reinsurance
market
", adding that the Group's "strong business profile allows SCOR to effectively
manage local and global
reinsurance market cycles, which should be particularly beneficial over the
coming years as the industry confronts an increasingly challenging operating
environment.
"

The rating agency based its decision on SCOR's"consistently improving"
underwriting profitability, its"strengthened"
risk-adjusted capitalisation, "strong level of financial flexibility
" and"excellent enterprise risk management framework and conservative risk
appetite
[.]."
Moreover, it highlighted the Group's "sophisticated capital management tools,
which are fully integrated into the
operational and strategic decision-making processes of the group".

Denis Kessler, Chairman and CEO of SCOR,
comments:"A.M Best's decision
is a new illustration of the strengthened financial security that SCOR brings
to its clients, particularly in the current market environment. This positive
outlook reinforces the two recent upgrades received from Fitch Ratings and
S&P*, and
confirms SCOR as a Tier 1 global reinsurer".

The A.M. Best press release is available on the agency's homepage at the
following address:
http://www.ambest.com.

* See press releases published by the Group on 21 July 2015 and 7 September
2015 respectively.

*

* *

Forward-looking statements

SCOR does not communicate "profit forecasts" in the sense of Article 2 of (EC)
Regulation n°809/2004 of the European Commission. Thus, any forward-.looking
statements contained in this communication should not be held as
corresponding to such profit forecasts. Information in this communication may
include "forward-looking statements", including but not limited to statements
that are predictions of or indicate future events, trends, plans or
objectives, based on certain assumptions and include any statement which does
not directly relate to a historical fact or current fact. Forward-looking
statements are typically identified by words or phrases such as, without
limitation, "anticipate", "assume", "believe", "continue", "estimate",
"expect", "foresee", "intend", "may increase" and "may fluctuate" and similar
expressions or by future or conditional verbs such as, without limitations,
"will", "should", "would" and "could." Undue reliance should not be placed on
such statements, because, by their nature, they are subject to known and
unknown risks, uncertainties and other factors, which may cause actual
results, on the one hand, to differ from any results expressed or implied by
the present communication, on the other hand.
Please refer to SCOR's Document de référence filed with the AMF on 20 March
2015 under number D.15-0181 (the "Document de référence"), for a description
of certain important factors, risks and uncertainties that may affect the
business of the SCOR Group. As a result of the extreme and unprecedented
volatility and disruption of the current global financial crisis, SCOR is
exposed to significant financial, capital market and other risks, including
movements in interest rates, credit spreads, equity prices, and currency
movements, changes in rating agency policies or practices, and the lowering
or loss of financial strength or other ratings.
The Group's financial information is prepared on the basis of IFRS and
interpretations issued and approved by the European Union. This financial
information does not constitute a set of financial statements for an interim
period as defined by IAS 34 "Interim Financial Reporting". The Group's
financial information is prepared on the basis of IFRS and interpretations
issued and approved by the European Union. This financial information does
not constitute a set of financial statements for an interim period as defined
by IAS 34 "Interim Financial Reporting".

SCOR Press Release
http://hugin.info/143549/R/1951312/709594.pdf

---------------------------------------

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Scor via Globenewswire

HUG#1951312

Författare Hugin

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.