Fitch Maintains SCOR’s ‘A+’ Rating with Rating Watch Negative
Fitch Ratings announced that it will maintain its ‘A+’ insurer financial strength (IFS) rating of SCOR Group, and the ‘A’ Long-term and the ‘F1’ Short-term ratings of SCOR, but will keep the group on “Rating Watch Negative.”
The bulletin noted that the company has 30 offices around the world, “serving clients in over 150 countries,” and is ” France’s largest reinsurer and one of the industry world leaders,” with a “well balanced portfolio of Property & Casualty, Life & Accident and Specialty reinsurance products and services.”
Standard & Poor’s and A.M. Best recently reaffirmed their “A” ratings on the SCOR Group after putting them under review following the announcement in early September that the company had entered into discussions with Germany’s Gerling Group concerning the acquisition of some of its reinsurance lines. The talks ended three weeks later.
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