Scor: back to black in Q1
(CercleFinance.com) - The reinsurer Scor has announced net income of E311m in Q1 2023, compared to a net loss of E35m a year ago, representing an annualised rate of return on equity (ROE) of 29.
7%.
Gross insurance revenues fell 2% to E3.93bn, while gross written premiums inches up 0.6% to E4.74bn, with a 1.8% fall in P&C (Property and Casualty), although a 2.9% increase in L&H (Life and Health).
The group's economic value, measured according to IFRS 17, stands at E9.78bn as at 31 March, up 9.4% compared to end-2022, while its solvency ratio is estimated at 219%, at the top of the optimal solvency range.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
7%.
Gross insurance revenues fell 2% to E3.93bn, while gross written premiums inches up 0.6% to E4.74bn, with a 1.8% fall in P&C (Property and Casualty), although a 2.9% increase in L&H (Life and Health).
The group's economic value, measured according to IFRS 17, stands at E9.78bn as at 31 March, up 9.4% compared to end-2022, while its solvency ratio is estimated at 219%, at the top of the optimal solvency range.
Copyright (c) 2023 CercleFinance.com. All rights reserved.