SCOR : Net income better than expected and share buyback programme launched
>A smaller loss than expected in Q3 2021 - Scor yesterday morning reported its Q3 2021 net income with a net loss of € 41m, far below forecasts (consensus -€ 151m, ODDO BHF -€ 153m). The gap in relation to forecasts is due mainly to: 1/ a natural catastrophe cost that was lower than expected, in particular for Hurricane Ida; 2/ a net tax gain of € 64m from a stake in the insurtech Doma, and; 3/ to a lesser extent, operating profit that was slightly better than expecte...SCOR is a holding company. Through its subsidiaries, Co. is engaged mainly in reinsurance. Its customers are insurers and large corporations. Co. is engaged in life reinsurance through SCOR Global Life SE and non-life reinsurance through SCOR Global P&C SE. In the life reinsurance business, Co. offers reinsurance for individual and group life insurance, long-term care, substandard risks, critical illness and financing products. The non-life reinsurance business comprises traditional reinsurance business; Treaty, Business Solutions, and Specialty Lines. In addition, Co. through SCOR Global Investments SE, manages, directly or indirectly its global investment portfolio.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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