NU Online News Service Oct. 1, 11:07 a.m. EDT

has raised its outlook of SCOR SE to "positive" from "stable," citing the "positive momentum in SCOR's financial profile."

S&P's "A" rating remains unchanged.

According to the rating agency, the outlook revision "mainly stems from the group's improved earnings, strong capitalization, and a strong enterprise risk management (ERM) program."

S&P had previously upgraded SCOR SE's rating to "A" on March 13, 2009, before upgrading the Group's Enterprise Risk Management (ERM) rating from "Adequate" to "Strong" on Sept. 4, 2009.

Denis Kessler, chairman and chief executive officer of Paris-based SCOR, said, "We are pleased with this decision by S&P, which follows on from SCOR rating positive movement by Fitch and AM Best over the past weeks."

He continued, "Over the last few years, and despite an exceptionally serious economic and financial crisis, SCOR has strengthened its growth, profitability and solvency."

Fitch raised the outlook on the "A" rating of SCOR SE and its main subsidiaries from "stable" to "positive," Aug. 24, 2010, and AM Best upgraded the Insurer Financial Strength rating of SCOR SE and its main subsidiaries from "A-minus" to "A" Sept. 10, 2010.

Fitch pointed to SCOR's conservative investment policy, reduced debt leverage and continued strong capital adequacy amid volatile financial markets and a less favorable claims environment as reasons for the improved outlook.

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S&P Raises SCOR&#039;s Outlook To Positive

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