NU Online News Service, Sept. 14, 2:18 p.m.EDT

A.M. Best Europe-Ratings Services Ltd. in London said itupgraded the financial strength rating of Paris-based SCOR S.E. andits subsidiaries to "A" from "A-minus."

The subsidiary of Oldwick, N.J.-based A.M. Best said last Fridaythat in connection with the SCOR rating action, it also bumped upthe ratings of some North American non-life and life operatingsubsidiaries to "A," such as SCOR Reinsurance Company in NewYork.

An exception was General Security National Insurance Company,which Best affirmed at "A-minus."

The outlook on all ratings has been revised to stable frompositive.

Referring to the upgrades, Best Europe said the actions reflectthe continuing resilience of SCOR's risk-adjusted capitalization,its consistent operating performance and the quality of itsenterprise risk management, noting that "SCOR's risk-adjustedcapitalization has improved beyond A.M. Best's expectations."

The capital improvement, Best Europe said, is a result of SCOR'shighly diversified underwriting exposure--with an even balancebetween non-life and life-health business--as well as the company'srelatively low investment exposure.

"SCOR has been able to continue to distribute dividends to itsshareholders and, at the same time, increase its retained earningsdespite facing difficult conditions in the financial markets," therating division said.

In 2010, A.M. Best anticipates that SCOR's underwritingperformance will remain positive despite the impact of majornatural catastrophe events (principally the Chile earthquake andWindstorm Xynthia) on the group's non-life result, with a projectedcombined ratio marginally below 100.

The A.M. Best announcement noted that SCOR group was able to"maintain its momentum in non-life lines" during 2010 renewals "bymaking inroads into American and Asian markets."

Overall, A.M. Best expects SCOR's non-life gross writtenpremiums to increase by approximately 5 percent for full-year2010