Moody’s upgrade for SCOR

French reinsurer SCOR has had its insurance financial strength rating upgraded from A2 to A1.

SCOR’s subordinated debt rating also rose to A3 (hyb) from Baa1 (hyb). All ratings have a stable outlook.

Moody's said that the upgrade of SCOR's ratings reflects its enhanced franchise strength, consistent good profitability aligned with very low results volatility, and very good financial flexibility, whilst maintaining very good business diversification, a relatively conservative investment portfolio and good capitalisation.