SCOR renews its contingent capital facility

ScorSCOR is launching a three-year contingent capital facility for the fourth time. This solution was first introduced in January 2011.

The contingent capital offers the French reinsurer a safety margin of 300 million EUR (332.3 million USD) that can be used in case of an extreme event occurring between early 2020 and late 2023. This contingent capital process is part of the seventh "Quantum Leap" strategic plan and aims to preserve the group's solvency.The capital increase process is triggered in case of an extreme event only.

Note: In order to avoid bankruptcies with serious consequences, the regulators have introduced a new category of capital called contingent capital. This capital is accessible through the financial markets in the form of convertible contingent bonds.

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