Report
Henry Heathfield, CFA

Scor's 1Q 2018 Better Shows the Quality of the Business

Scor reported net income of EUR 166 million for first-quarter 2018. The business continues to demonstrate its dominant position within life reinsurance, as this unit posted a near 15% increase in gross premiums. We still think this is one of the best competitively placed reinsurance companies. Solvency remains strong, and we are maintaining our EUR 38 fair value estimate, along with our narrow moat and stable moat trend ratings.
Financial leverage is still a little high for the business, and we ...
Underlying
Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Henry Heathfield, CFA

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