SCOR said the decision by ratings agency AM Best to downgrade its rating was unfounded.
SCOR said the decision by AM.Best to downgrade its rating was unfounded.
SCOR said the assessment failed to properly take into account improvements within the group over the past year.
The group said increased cash flow, which was EUR 292m for the first half of 2003, compared to EUR 58m for the same period in 2002, and a new selective underwriting policy were producing improved results.
Other measures taken include discontinuing credit derivatives and bringing in investors in to its Life reinsurance subsidiary.
