SCOR : Brisk momentum in P&C, but deterioration in US mortality
>Net income in Q1 below the consensus and a shade above our forecast - Scor reported its Q1 2024 results last Friday. Insurance revenues came to € 4,113m (+2.0% vs consensus) benefiting from brisk growth in life reinsurance (+6.6% reported), with growth in P&C (+2.6% reported) was lower than expected. Insurance service result was far below forecasts in P&C and life reinsurance at € 253m (-47%) vs the consensus of € 352m and our forecast of € 327m, but with brisk under...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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