SCOR : Very high net income in Q1 and the solvency margin was better than expected
>Net income far better than expected - Scor reported on Friday morning net income of € 311m for Q1 2023, far better than expected (consensus and our forecast at € 161m). Note that this is the first set of results to be reported by the group since the application of the new IFRS 17 accounting standards (compared to net income of -€ 35m in Q1 2022 pro forma IFRS 17). In addition to the strong operating performances analysed hereafter, we also note that the current yield...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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