Moody’s raises Scor’s rating

Moody’s has raised the ratings for financial soundness and junior debt for Scor SE and its main subsidiaries respectively from A2 to A1 and from Baa1 to A3 with stable outlook. This announcement comes shortly after the raising of the French reinsurer’ s rating by the agencies Fitch (at A+), and AM Best (at A+). Moody justified this decision by the reinsurer’s high and steady profitability. The rating agency deems that Scor displays a good financial flexibility, a prudent investment portfolio, a good capital level, and maintains an excellent diversification of its operations.