SCOR : Net loss deeper than expected in Q2 due to the P&C activity
>Strong growth in P&C premiums - Yesterday, the group posted a loss of € 159m for Q2 2022, well above forecasts (consensus at -€ 36m and our forecast of -€ 45m), essentially due to a deeper-than-expected loss in P&C and lower financial income, whilst operating profit came in above forecast in life reinsurance. Group premiums were € 4,971m in Q2 2022, up 15.2% on a reported basis and 7.1% at constant currency (cc), beating forecasts (consensus at € 4,762m and our forec...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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