Scor SE (SCRYY.PK) Key Developments | Reuters.com
Edition:
United States

Scor SE (SCRYY.PK)

SCRYY.PK on OTC Markets Group

2.82USD
27 Jun 2016
Change (% chg)

-- (--)
Prev Close
$2.82
Open
--
Day's High
--
Day's Low
--
Volume
--
Avg. Vol
64,430
52-wk High
$4.09
52-wk Low
$2.80

Latest Key Developments (Source: Significant Developments)

Scor successfully places 500 million euro dated subordinated notes
Tuesday, 24 May 2016 12:53pm EDT 

Scor : Successfully places 500 million euro ($557.4 million) dated subordinated notes . Coupon has been set to 3.625 pct (until 27 May 2028 first call date), and resets every 10 years at prevailing 10 years euro mid-swap rate + 3.90% . Confirms its current intention to redeem balance of 350 million euro and CHF 650 million undated subordinated note lines, callable in July and August 2016 respectively . Notes are expected to be rated A by Standard & Poor's and A- by FITCH .Settlement is expected to take place on 27 May 2016.  Full Article

Covéa says to have bought about 5.64 pct of Scor capital
Sunday, 10 Apr 2016 08:00pm EDT 

Scor SE:Covéa group says to have bought about 5.64 pct of Scor capital to increase its shareholding to 7.67 pct.  Full Article

Scor comments on FY 2016 guidance, proposes FY 2015 dividend of EUR 1.50/share
Wednesday, 24 Feb 2016 01:30am EST 

Scor SE:Proposes an FY 2015 dividend of 1.50 euro per share.For 2016, given mounting headwinds, estimated return on invested assets could be in range of 2.8 pct to 3.1 pct.  Full Article

Scor raises outlook on Scor to "positive" from "stable"
Tuesday, 15 Dec 2015 01:10pm EST 

Scor SE:Moody's investors service has raised outlook of Scor to "positive" from "stable", and has affirmed its financial strength rating of "A1" and its "A3" (hyb) subordinated debt rating.Moody's has revised to "positive" outlook of various Scor SE subsidiaries and affirmed their ratings at "A1".  Full Article

Scor acknowledges Sompo's decision not to execute its plan
Tuesday, 15 Dec 2015 07:40am EST 

Scor SE:Scor acknowledges decision taken by Sompo 8630.T not to execute its plan announced on March 6, 2015.This plan included acquisition of 8.1 pct of voting rights in Scor, and an intention to increase its holding to 15 pct and apply the equity accounting method to its Scor holding.To Scor's knowledge, this decision is not the result of a reassessment by Sompo of Scor's financial outlook, business and prospects.  Full Article

Scor successfully places 600 million euros dated subordinated notes
Wednesday, 2 Dec 2015 11:48am EST 

Scor SE:Successfully places 600 million euros dated subordinated notes, to refinance its CHF debt callable in August 2016.Settlement is expected to take place on 7 December 2015.  Full Article

Scor confirms FY 2015 and FY 2016financial guidance
Wednesday, 9 Sep 2015 01:16am EDT 

Scor SE:Firmly on track in terms of its strategic targets.Estimated FY 2015 solvency ratio of about 204 pct after changes made for purposes of Solvency II.ROE exceeding 1,000 basis points above three-month risk-free rate in first half of 2015.Confirms that its two strategic targets as defined in "Optimal Dynamics" plan are within reach.A solvency target characterized as a solvency ratio in 185-220 pct range is within reach.Profitability target defined as an ROE of 1,000 basis points above three-month risk-free rate over cycle is within reach.Reaffirms its consistent shareholder remuneration policy.Scor Global P&C expects to reach gross written premiums of approximately 6 billion euros ($6.69 billion) in FY 2016, which would translate into a compound annual growth rate of 7 pct between 2013 and 2016.Scor Global P&C expects to deliver a normalized net combined ratio of about 94 pct for 2015E and 2016E.Scor Global Life is on track to reach gross written premiums of approximately 7.9 billion euros in 2016.Scor Global Life also confirms that its technical margin assumption of 7 pct is within reach.Scor Global Investments expects to have 1.5 billion euros in assets under management by 2016.  Full Article

Standard & Poor's upgrades Scor SE to 'AA-'
Monday, 7 Sep 2015 06:46am EDT 

Scor SE:Standard & Poor's (S&P) has upgraded Scor's insurer financial strength rating to 'AA- stable outlook.S&P raised group counterparty credit ratings to 'AA-/A-1+' from 'A+/A-1.  Full Article

Scor successfully places 250 million euros dated subordinated notes
Tuesday, 2 Jun 2015 12:00pm EDT 

Scor SE:Successfully places 250 million euros dated subordinated notes.Coupon has been set to 3.25 pct (until June 4, 2027), and resets every 10 years at prevailing 10-year EUR mid-swap rate +3.20 pct.Proceeds of issue will be used for general corporate purposes.Intends to call balance of USD subordinated step-up floating rate notes due 2029, and of EUR subordinated step-up floating rate notes due 2020.  Full Article

Sompo Japan Nipponkoa Holdings to acquire stake in SCOR SE
Friday, 6 Mar 2015 02:30am EST 

Sompo Japan Nipponkoa Holdings, Inc:To acquire at leat 15 pct voting power of SCOR SE from Patinex AG and through market.  Full Article

Fitch Rates SCOR's Subordinated Notes at 'A-'

(The following statement was released by the rating agency) LONDON, May 24 (Fitch) Fitch Ratings has assigned SCOR SE's (SCOR) EUR500m issue of subordinated notes a rating of 'A-'. The notes are rated two notches below SCOR's Long-term Issuer Default Rating (IDR) of 'A+'/Stable, to reflect their subordination and loss absorption features, in line with Fitch's notching criteria. KEY RATING DRIVERS The proceeds of the Tier 2 subordinated notes will be used for general corporate purposes. The