SCOR : Major profit warning due to life reinsurance
>Strong operating loss in life reinsurance in Q2 ... - Scor yesterday issued a major profit warning in life & health reinsurance (the group will report its Q2 results on 30 July next). The group said that it expects a life & health insurance service result of -€ 0.4bn in Q2 2024 (vs the consensus at € 119m and our estimate for € 92m), given the update on reserves and continued negative experience variance (Scor had booked a charge of € 71m in Q1 2024 on a deterioratio...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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