SCOR renews its contingent capital mechanism

SCOR has renewed its contingent capital mechanism for a three-year period, from 1 January 2023 to 31 December 2025. This is the fourth time this mechanism has been renewed since its introduction in January 2011.

The contingent capital provides the French group with an additional capital of 300 million EUR (318.342 million USD), which can be used in the event of major events or a significant drop in the share price. It's designed to protect the reinsurer's equity and thus preserve its solvency.

The solution is based on share purchase warrants, issued by SCOR and underwritten by J.P. Morgan.