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S&P revises its outlook for Scor’s rating to negative | Photo credits: View of the logo of Scor SA on top of their headquarters located in the business area of La Defense, north of Paris REMY DE LA MAUVINIERE/AP/SIPA
PARIS (Agefi-Dow Jones)–S&P Global Ratings on Monday lowered its outlook for reinsurer Scor from “stable” to “negative”, while confirming its “AA-” credit rating. “The revised outlook takes into account that Scor’s earnings performance has been below our expectations over the past five years,” S&P said. “This is partly due to a difficult pricing environment in its damage business, high natural disasters” and the decline in the technical margin of its life reinsurance business, the rating agency said in particular. ([email protected]) ed: LBO
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January 31, 2022 11:29 ET (16:29 GMT)