Scor has announced plans to press ahead with a £251m share issue in a bid to improve its balance sheet.
The French reinsurer said its move has been prompted by shareholders eager to pursue a strategy of selective growth.
Scor is said to be keen on expanding into property & casualty reinsurance and large corporate accounts.
Scor said it would call an EGM on November 5 to agree the share issue.
The announcement is the latest in a line of insurers who have sought to raise capital. Royal & SunAlliance, Zurich and Aegon have recently announced plans to bolster capital.
Chairman Jacques Blondeau said: " This will allow us to offer our clients additional underwriting capacity for the 2003 renewal season and thus to respond to the strong demand from the insurance markets."
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
