Scor has announced plans to press ahead with a £251m share issue in a bid to improve its balance sheet.
The French reinsurer said its move has been prompted by shareholders eager to pursue a strategy of selective growth.
Scor is said to be keen on expanding into property & casualty reinsurance and large corporate accounts.
Scor said it would call an EGM on November 5 to agree the share issue.
The announcement is the latest in a line of insurers who have sought to raise capital. Royal & SunAlliance, Zurich and Aegon have recently announced plans to bolster capital.
Chairman Jacques Blondeau said: " This will allow us to offer our clients additional underwriting capacity for the 2003 renewal season and thus to respond to the strong demand from the insurance markets."
