Report
Henry Heathfield
EUR 147.86 For Business Accounts Only

Scor's life reinsurance is a source of a narrow moat, and we believe the business is undervalued.

Unlike its main competitors, SCORs reinsurance portfolio is more significantly weighted to life and health, which represent 57% of premiums. We believe life and health reinsurance displays structural advantages that enable defendable excess returns, and put a narrow moat around the business. The life and health reinsurance industry is highly concentrated, and characterized by strong direct client relationships and reliance of clients on value added services. Additionally, life reinsurance has pr...
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

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