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 consolidated capital, its high profile brand, well diversified reinsurance account, and expected improvement in financial performance in 2003,” said the bulletin.
“SCOR maintains consolidated capital at a level commensurate with its rating according to A.M. Best’s risk adjusted capital model, despite some erosion suffered from WTC and other major losses in 2001. SCOR has an excellent business profile in the global reinsurance market and writes a well diversified reinsurance account both in terms of the classes written and the spread of territories from which it attracts business,” the bulletin continued.
A.M. Best forecast an “excellent performance in 2003,” based on the “effect of further portfolio restructuring and the highly favourable underlying trends in SCOR’s consolidated property and casualty reinsurance business.”
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