Scor

Analysts find carriers have few investments in bank debt after Credit Suisse rescue.

Kayley Stewart joins from Fidelis, and Yvonne Ledger and Kate Carrett are joining the environmental liability team.

S&P Global Ratings has affirmed Scor’s financial strength ratings (FSR) at A+, while the French carrier’s outlook remained stable.

The release of Swiss Re, Munich Re, Hannover Re and Scor’s year-end reports provides an update on market conditions.

The rating downgrades reflect the deterioration in Scor’s operating performance.

CFO Ian Kelly said the EUR0.40 reduction reflects 2022 as a loss-making year.

Analysts question a 24% Q4 earnings miss as the company cuts its dividend.

It is understood that industry veteran James Grieve will retire this summer after over 16 years at the French reinsurer.

The carrier is confident the positive cycle will continue as it prepares for April, June and July renewals.

The ratings agency said the weakening of the group’s performance in the first part of the year continued into the third quarter.

Plus all the top news and latest people moves of the week.

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