SCOR SE (ADR) ( (SCRYY) ) has released its Q3 earnings. Here is a breakdown of the information SCOR SE (ADR) presented to its investors.
SCOR SE is a global reinsurance company headquartered in France, providing a diverse range of reinsurance and insurance solutions with a focus on risk management across various sectors. In the third quarter of 2024, SCOR SE reported a net loss of EUR 117 million, significantly influenced by a comprehensive Life & Health (L&H) assumption review. Despite this, the company’s Property & Casualty (P&C) division showed strong performance with a combined ratio of 88.3%, and investments yielded a robust income of 3.5%. Key financial metrics highlight a mixed performance: the solvency ratio stands at 203%, comfortably within the optimal range, while the annualized return on equity was negative. The completion of the L&H assumption review led to significant adjustments, impacting the insurance service result and economic value negatively. Looking ahead, SCOR SE remains optimistic about its P&C operations and investment portfolio performance, aiming for strategic growth and resilience in a challenging market environment.
