Scor: Q3 net loss impacted by L&H review
(CercleFinance.com) - Scor has reported a net loss of E117m for Q3 2024, impacted by the 2024 review of L&H assumptions, but adjusted for non-recurring items, its net income would be E150m.
The reinsurer thus boasts a good underlying performance, reflecting in particular 'a very strong P&C performance, with a combined ratio of 88.3% in the third quarter and enabling the maintenance of a disciplined reserving policy'.
Scor also points to a positive trend in the underlying performance of L&H, with earnings from L&H insurance activities of E81m (adjusted for non-recurring items), as well as a high current rate of return on investments of 3.5%.
Its solvency ratio is estimated at 203% at 30 September 2024, within the optimal solvency range of 185-220%, with negligible additional impact from the completion of the L&H assumption review and the implementation of an efficient third-party capital solution.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The reinsurer thus boasts a good underlying performance, reflecting in particular 'a very strong P&C performance, with a combined ratio of 88.3% in the third quarter and enabling the maintenance of a disciplined reserving policy'.
Scor also points to a positive trend in the underlying performance of L&H, with earnings from L&H insurance activities of E81m (adjusted for non-recurring items), as well as a high current rate of return on investments of 3.5%.
Its solvency ratio is estimated at 203% at 30 September 2024, within the optimal solvency range of 185-220%, with negligible additional impact from the completion of the L&H assumption review and the implementation of an efficient third-party capital solution.
Copyright (c) 2024 CercleFinance.com. All rights reserved.