Report
Benoit Valleaux

SCOR : Profitability set to improve in the next few quarters

>Results not as bad as expected in Q1 - Scor released its Q1 2021 earnings yesterday morning. The net result was € 45m, beating expectations (vs our forecast of -€ 27m, consensus € 4m). Premiums were weaker than expected at € 4.1bn (vs our forecast of € 4.2bn, consensus € 4.3bn), down 0.8% reported, with l-f-l growth of 5.6% (+10.3% in P&C, +2.1% in life reinsurance) more than offset by a significant negative forex impact. The operating result came to € 102m in Q1 202...
Underlying
Scor SE

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Benoit Valleaux

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