French reinsurance company Scor SA (SCR.FR) said Wednesday it has placed 4.251 million new shares with investors in a EUR75 million capital increase aimed at strengthening its equity capital following heavy insurance claims earlier in the year.

The shares were issued at EUR17.643 each. At 0706 GMT, Scor shares were down EUR0.39, or 2% at EUR19.16

The move will slightly dilute shareholder interest in the company, with every 1% of share capital reducing to 0.978%.

Scor said Tuesday that it will book EUR10 million to EUR15 million in extra pre-tax natural catastrophe losses because of claims stemming from the first quarter. The increased claims costs will be booked in its second quarter accounts.

-By Digby Larner and Gabriele Parussini, Dow Jones Newswires; +33 1 4017 1748; digby.larner@dowjones.com

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