S&P’s placed all its long-term ratings, including its “A-” counterparty credit and insurer financial strength ratings, on France-based reinsurer SCOR and subsidiaries on CreditWatch with negative implications. The placement follows the reinsurer’s disappointing first quarter results, diminished business position and potential reserve strengthening down the line.
S&P will shortly meet with SCOR group management to resolve the CreditWatch placement. If, upon resolution of the CreditWatch placement, S&P decides to lower the ratings on SCOR and its subsidiaries, it is not expected that they will be lowered by more than one or two notches.
Was this article valuable?
Here are more articles you may enjoy.
In Alabama, Shot Employee Gets No Workers’ Comp and No Employer’s Liability 
Trump to Issue Order Creating National AI Rule 
Death of Teenager on Carnival Cruise Ship Ruled a Homicide 
WTW to Acquire Newfront in Deal Worth Up to $1.3B From This Issue
