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.

Though the underlying core technical underwriting ability within Scor is similar to peers, we believe the business benefits from a narrow moat due to its higher proportion of life reinsurance, which we view to be structurally moaty. Scor's latest optimization plan, Vision in Action, targets a return on equity at or above 800 basis points over the five-year risk-free rate. Operationally, the business is focusing on an under-represented U.S. property and casualty market and emerging markets within...
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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