AM Best has affirmed the financial strength rating of SCOR and its main subsidiaries as B++ (Very Good) and issuer credit rating of ‘bbb+'.
The ratings on senior and subordinated debt instruments issued or guaranteed by SCOR and the company's commercial paper programme have also been affirmed. AM Best said the outlook for all these ratings remains positive.
The ratings agency said the ratings of SCOR reflect its very good prospective risk-adjusted capitalisation, continuing improvement in non-life profitability and the company's strong business profile in continental Europe.
A partially offsetting factor is the need for further stability in loss reserve development, which has recently been favourable following a prolonged period of adverse development.
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