Q4 18 was difficult for Scor due to the multiplication of nat cat events. The operating result was -€7m, partially saved by the Life segment (up 26.9% to €99m). The net income was affected by the US tax reform (-€68m). This regulatory change was also reflected in the cash flow generation, only at €891m. The proposed dividend was better than expected, at €1.75/share. The CEO confirmed that Scor will remain independent. No major changes are expected in our model.
20 Feb 2019
Poor Q4 18 but still a generous dividend
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Poor Q4 18 but still a generous dividend
SCOR SE (SCR:PAR) | 0 0 (-0.2%) | Mkt Cap: 6,833m
- Published:
20 Feb 2019 -
Author:
Bassem Neifer -
Pages:
3
Q4 18 was difficult for Scor due to the multiplication of nat cat events. The operating result was -€7m, partially saved by the Life segment (up 26.9% to €99m). The net income was affected by the US tax reform (-€68m). This regulatory change was also reflected in the cash flow generation, only at €891m. The proposed dividend was better than expected, at €1.75/share. The CEO confirmed that Scor will remain independent. No major changes are expected in our model.