Abstract: The Financial Strength Rating and Issuer Credit Rating assigned to SCOR by A.M. Best presents a clear picture of SCOR's business profile. The ratings of SCOR further improved after the acquisition of Converium AG of Switzerland.
SCOR Ratings by A.M. Best clearly reflect the financial performance of SCOR, the famous insurance company of France.
The ratings that, SCOR received from A.M. Best Co. are the following:
SCOR got an A- in its' Financial Strength Rating (FSR).
A.M. Best Co. assigned “a-”, to SCOR for its' Issuer Credit Rating.
The above ratings were assigned by A.M. Best Co., to not only SCOR of France, but also to its' subsidiary companies, including SCOR Canada Reinsurance Company, SCOR UK Company Limited, SCOR Life US Re Insurance Company and SCOR Reinsurance Asia-Pacific Private Limited.
A.M. Best Co.'s Evaluation of SCOR Depending up on the Ratings
A.M. Best thinks that, SCOR will be able to maintain its' risk-adjusted capitalization.
The ratings assigned by A.M. Best suggests that, SCOR, has established its' business in the markets of Europe. According to A.M. Best, SCOR has gained significant market presence not only in the field of life insurance, but also in the filed of non-life insurances.
SCOR has improved its' business profile by introducing several life insurance franchise.
It must be mentioned here, that ratings of SCOR has improved after the acquisition of Converium AG of Switzerland. After the acquisition, the business profile of SCOR has become much stronger as Converium AG carries a record of awesome operating performance.
The transactions of this acquisition deal were partially made in cash. This reduced the capitalization of the combined company.
As SCOR has a plan of refinancing the cash payment, A.M. Best expects that, SCOR will be able to keep the level of Financial Leverage within the current rating levels. It can be mentioned here, that, the level of total adjusted capital of SCOR has already reached the total limit of 20%, fixed by A.M. Best.