SCOR : Net loss in Q2, with very significant impact from life insurance review
>Good performance in P&C, net income short of expectations - Scor reported its Q2 2024 results yesterday, following a significant profit warning on 15 July. Insurance revenues increased by 3.4% l-f-l. Insurance service result came to -€ 128m (vs our forecast of -€ 200m after the profit warning and a consensus of € 323m ahead of the profit warning) with a result in line in P&C. The trends in P&C remain favourable, with a combined ratio of 86.9% in Q2 (close to expectat...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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