September 10, 2010 13:39 ET

A.M. Best Upgrades SCOR's Rating to 'A'

PARIS--(Marketwire - September 10, 2010) - 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:


* *

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 3 March 2010 under number D.10-00085 (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.

This information is provided by HUGIN

Contact Information

  • For further information, please contact:

    Jean-Charles Simon / Geraldine Fontaine
    +33 (0)1 46 98 73 17
    Communications and Public Affairs

    Antonio Moretti
    +44 (0) 203 207 8562
    Investor Relations Director