SCOR : Results marked by one-off items
>Net profit below forecasts excluding the deal with Covéa - Scor released its Q2 2021 results yesterday morning with net profit of € 335m (vs a € 136m loss in Q2 2020), well above our forecast (€ 86m) and the consensus (€ 126m), but this result included a net one-off gain of € 311m relating to the agreement signed with Covéa. Stripping out this gain, net profit would have been below expectations because of a high COVID charge. Scor recorded in Q2 a COVID charge of € 1...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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