Latest SCOR SE Headlines
All the headlines from our SCOR SE Topic Page, ordered by recency.
SCOR Confirms Renewal of Letters of Credit
Dec 2 2002 // France’s SCOR Group has confirmed that it has signed a “definitive agreement” with its banking syndicate setting out the principal terms and conditions for the renewal, “for the year 2003, of a...
A.M. Best Lowers SCOR Group Ratings to A- (Excellent)
Nov 25 2002 // A.M. Best announced that it has lowered the financial strength rating of French reinsurer SCOR and its subsidiaries from A (Excellent) to A- (Excellent), and will keep all of the group’s ratings under review with...
Gerling Global – Going, Going, Gone
Nov 25 2002 // Asbestos, the weak equity markets and Sept. 11 have indirectly claimed another victim. Gerling-Konzern Globale Ruckversicherungs—AG (GKG), the reinsurance arm of Germany’s Gerling Group, announced at the end of...
Gerling Global – Going, Going, Gone
Nov 25 2002 // Asbestos, the weak equity markets and Sept. 11 have indirectly claimed another victim. Gerling-Konzern Globale Ruckversicherungs—AG (GKG), the reinsurance arm of Germany’s Gerling Group, announced at the end of...
SCOR Appoints Denis Kessler as New CEO to Succeed Jacques Blondeau
Nov 5 2002 // In a sudden, but not totally unexpected, move France’s SCOR Group announced that Denis Kessler would replace Jacques Blondeau as Chairman and CEO. The change follows a profit warning that SCOR expects a 250 million...
SCOR Responds to Ratings Downgrades
Nov 1 2002 // France’s SCOR Group, which recently warned that it expected to post a net loss of around 250 million Euros ($247 million) for 2002 (See IJ Website Oct. 30), responded to the actions of the various rating agencies...
SCOR Warns of $246 Million 2002 Loss
Oct 30 2002 // France’s SCOR Group, the world’s 8th largest reinsurer, issued a profit warning today, stating that: “a net loss estimated at around EUR 250 million [$246 million] is expected for the full year...
Fitch Maintains SCOR’s ‘A+’ Rating with Rating Watch Negative
Oct 29 2002 // Fitch Ratings announced that it will maintain its ‘A+’ insurer financial strength (IFS) rating of SCOR Group, and the ‘A’ Long-term and the ‘F1’ Short-term ratings of SCOR, but will keep...
S&P Downgrades SCOR Ratings to ‘A’ from ‘A+’
Oct 22 2002 // Standard & Poor’s Ratings Services announced that it has lowered its long-term insurer financial strength and counterparty credit ratings on France’s SCOR and its subsidiaries to single-‘A’...
SCOR Plans 400 Million Euro Capital Increase
Sep 30 2002 // France’s SCOR Group announced that it has called a special meeting of its The Board of Directors for November 5 to consider a capital increase of around 400 million euros ($393.4 million). The increase would enable...
A.M. Best Affirms SCOR’s ‘A’ (Excellent) Ratings
Sep 27 2002 // A.M. Best announced that it has affirmed the “A (Excellent)” financial strength rating of France’s SCOR Group with a stable outlook. “The affirmation reflects SCOR’s maintenance of excellent...
S&P Stands Pat on SCOR, Gerling Ratings
Sep 24 2002 // Standard & Poor’s announced that its ratings on Gerling-Konzern Globale Ruckversicherungs-AG (GKG) and related entities will “remain on CreditWatch with developing implications,” and that its...
SCOR Terminates Talks with Gerling
Sep 23 2002 // France’s SCOR Group announced that it has broken off talks with Germany’s Gerling Group to acquire its life reinsurance operations, and certain non-life activities, “due to current capital market...
S&P Lowers Gerling Global Re’s Ratings to ‘BBB’
Sep 5 2002 // Standard & Poor’s announced that it has lowered its long-term counterparty credit and insurer financial strength ratings on Germany’s Gerling-Konzern Globale Ruckversicherungs-AG (GKG), the reinsurance arm...
SCOR 1st Half Net Profit Down 58% to €21 Million – In Talks with Gerling
Sep 4 2002 // SCOR, France’s largest reinsurer, reported that its 1st half net income had dropped 58 percent to € 21 million* from € 50 million* in the same period last year, due to the now familiar problem of declining equity...
SCOR Reports 16 Percent Rise in Premium Income
Aug 8 2002 // For the first six months of the year French reinsurer SCOR registered a robust 16 percent rise in premium income at constant exchange rates. The company attributed the rise to improving non-life reinsurance rates and the...
Argonaut Obtains Renewal Rights to Fulcrum Excess and Surplus Lines from SCOR
Apr 17 2002 // Argonaut Group, Inc. announced that it has reached an agreement with SCOR Group to acquire the renewal rights and certain other assets of SCOR subsidiary Fulcrum Insurance Company, an excess and surplus lines’...
SCOR Launches Multi-Continental CAT Bond with RMS Technical Help
Jan 28 2002 // On Jan. 3, French reinsurer SCOR Group launched the second installment of its innovative Atlas Re catastrophe bond, with technical analysis and parameters provided by Newark, Calif.-based Risk Management Solutions (RMS)...
SCOR Hit By Late Claims, Estimates $223 Million Loss for 2001
Jan 16 2002 // France’s SCOR announced that a late surge in claims that emerged at the end of the year has led to a downward revision of its earnings estimate for 2001. The company stated that, “In view of the combined impact...
A.M. Best Lowers SCOR Ratings, Removes from Review
Jan 15 2002 // A.M. Best announced that it has downgraded the financial strength rating of France’s SCOR to A (Excellent) from A+ (Superior) and has removed the rating from under review. The new rating also applies to all of...
