SCOR Reports Stable 1Q Results
SCOR reported first-quarter results of EUR 140 million, slightly below our expectations. But excluding the EUR 116 million Ogden discount rate impact, underlying results were slightly ahead of our forecasts. Solvency II remains ahead of the targeted 185%-220% range. We will maintain our EUR 34 fair value estimate and narrow-moat rating.SCOR Global Life continues to focus on the Asia-Pacific region, having opened a new office in Tokyo as well is growing its Longevity insurance line. Combined wit...
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