Best Sees “No Change” in SCOR Ratings

A.M. Best Co. has issued a comment indicating that all of its on French reinsurer SCOR Group will remain unchanged following publication of the company’s earnings results (See IJ Website March 24).

“The reported net income of EUR 68.7 million (USD 93.7 million) for the year falls within the range anticipated by A.M. Best, taking into account additional reserves established in respect of the World Trade Center to reflect the verdict reached in December 2004,” said the bulletin.

Best also noted that “SCOR’s rating continues to factor its very good risk-adjusted capitalisation, improving earnings, excellent life operating profitability and very good business profile.”