Scor issues contingent capital facility

French reinsurer Scor S.E. has issued a three-year contingent capital facility that will provide it with €300 million ($316 million) of cover against losses from natural catastrophe and extreme mortality events, Artemis.bm reports. The cover enables Scor to diversify its sources of retrocessional capital. "This facility protects Scor's solvency, at a very low cost for our shareholders, against events such as a global pandemic or a natural catastrophe of historic proportions," said Denis Kessler, chairman of Scor.

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