SCOR : Net income impacted by natural catastrophes in Q3 2023
>Net income short of the consensus and in line with our forecast - Scor on Friday reported its Q3 2023 results, under the new IFRS 17 standards. Net income came to € 147m (vs a loss in Q3 2022 and net income of € 192m in Q2 2023), around 20% below the consensus (€ 183m) and in line with our forecast (€ 146m). Net income was impacted by high natural catastrophe costs (see below), and by a lower-than-expected technical result (insurance service result) in life reinsuran...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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