on SCOR (EPA:SCR)
SCOR Reports Q3 2024 Results: Solid Solvency Amid L&H Review Impact
SCOR has released its financial results for the third quarter of 2024. The Group reports a good underlying performance, particularly in Property & Casualty (P&C), despite a net loss. The P&C combined ratio improved to 88.3%. Life & Health (L&H) reinsurance faced challenges, with an insurance service result of EUR -210 million due to an assumption review.
The Group's solvency ratio stands at 203%, within the targeted range of 185%-220%, signaling financial strength. Net loss for Q3 reached EUR -117 million, heavily influenced by the L&H review. Adjusted net income would have been EUR 150 million, showing a resilient core business.
In investments, SCOR achieved a regular income yield of 3.5%. Total economic value decreased by -7.0% since December 2023. The completion of the L&H review is a key milestone, paving the way for strategic shifts.
R. H.
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