SCOR : Net income close to consensus but with a higher-than-expected combined ratio
>Net income very close to the consensus despite a lower result in P&C - Scor released its Q2 2023 results yesterday morning. Net income (under UFRS 17) was € 192m, very slightly below the consensus (€ 194m) and our expectation (€ 204m). The weaker-than-expected contribution from P&C reinsurance was largely offset by a better-than-expected contribution in life reinsurance (€ 140m vs consensus € 125m) and, more importantly, higher than expected investment income thanks ...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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