SCOR : Q3 results affected by natural catastrophes
>Continuing growth in business - Scor yesterday morning reported a Q3 2018 net profit of € 80m, short of expectations (consensus of € 105m, our forecast of € 106m), particularly as a result of much greater than expected nat cat costs, but also a higher-than-forecast tax burden.Total gross written premiums came in at € 3.779bn in Q3 2018, up 5.9% in reported terms and 5.5% l-f-l, close to forecasts. In P&C reinsurance, organic growth in premiums came to 5.0% over ...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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