A.M. Best revises outlook for SCOR SE

A.M. Best has revised the outlook to positive from stable and affirmed the financial strength rating (FSR) of A (Excellent) and the issuer credit ratings (ICR) of “a+” of SCOR SE (SCOR) and its main subsidiaries. Concurrently, A.M. Best has revised the outlook to positive from stable.

Low volatility in the company’s key rating fundamentals is further underpinned by its conservative risk appetite and excellent risk management framework.
SCOR has strengthened its competitive position within the global reinsurance market and increased its scale over recent years through organic growth of its non-life and life businesses, and by its acquisition of U.S.-based life reinsurance operations.

The group has established a strong global franchise that offers a wide range of reinsurance products. Furthermore, its underwriting portfolio is well balanced between life and non-life markets..

SCOR’s underwriting profitability has been consistently improving over the past three years, with the group reporting solid earnings during 2014 and for the first half of 2015, despite persisting competitive market conditions.

SCOR’s risk-adjusted capitalisation has strengthened over recent years, reaching a solid level in 2014. The improvement seen during 2014 principally reflects significant growth in reported shareholders’ equity

Capital requirements are largely driven by underwriting activities (premium and reserving risks), with the company maintaining a conservative investment portfolio.