French reinsurer Scor Group said it successfully completed a capital increase worth E381m (£247m) through a fully-subscribed offering equivalent to 99 million new shares.

The new capital structure keeps Scor's biggest shareholder as Groupama, with 19.23% of its capital.

The top 20 biggest shareholders own a total of 45% of SCOR. These are split roughly in half between French and non-French institutional investors.

Chief executive Denis Kesler said the money would be used to support underwriting.