SCOR’s financial strength rating raised in time for renewal season

The reinsurer finds it way back to A grade status • Global prop cat reinsurance rates surge, largest rises in US and Mexico

Reinsurer SCOR received a boost to its recovery when AM Best upgraded its financial strength rating to A- from BBB+ on September 8, the eve of the reinsurance industry’s annual meeting in Monte-Carlo. The improved rating - up to “excellent” from “very good” - also covers SCOR’s New York-based subsidiaries SCOR Reinsurance Co. and General Security National Insurance Co. and the Arizona-based General Security Indemnity Co. of Arizona (also known as the SCOR US Group).