Scor posted an improvement in its gross premiums (up 2.2% at constant FX to €4,158m) and net income (up 23.7% to €162m). The reinsurer continued to increase its business volume while reducing risks. In asset management, Scor has frozen its reinvestment activity, awaiting for better yields and lower volatility. The impact of COVID-19 is not material for the moment, but we expect higher claims in Q2. We keep our cautious figures with a drop in FY 20 earnings.
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A soft Q1
SCOR SE (SCR:PAR) | 0 0 (-0.2%) | Mkt Cap: 6,833m
- Published:
29 Apr 2020 -
Author:
Bassem Neifer -
Pages:
3
Scor posted an improvement in its gross premiums (up 2.2% at constant FX to €4,158m) and net income (up 23.7% to €162m). The reinsurer continued to increase its business volume while reducing risks. In asset management, Scor has frozen its reinvestment activity, awaiting for better yields and lower volatility. The impact of COVID-19 is not material for the moment, but we expect higher claims in Q2. We keep our cautious figures with a drop in FY 20 earnings.