Scor doubles its contingent capital coverage to EUR150mn
Global reinsurer Scor has doubled the amount of event-driven
contingent capital it can draw down on in response to large natural
catastrophe losses to EUR 150mn from EUR75mn.
The extra EUR75mn layer of coverage is an event-driven contingent
capital equity line that allows Scor to issue shares in response to
a pre-defined natural catastrophe trigger. It is in addition to the
existing EUR75mn layer of contingent capital that Scor implemented
in July 2011.
The coverage, agreed with Swiss bank UBS,...
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