Scor: war expected to impact Q1 results

(CercleFinance.com) - Scor warns that its Q1 2022 results will be impacted by the war in Ukraine: its Russian subsidiary Scor PO has stopped writing new business and the war is affecting lines such as political risks, surety and aviation.


The reinsurer expects to record a double-digit million euro charge for potential conflict-related claims for reinsurance treaties and specialty insurance over the period. As the conflict continues, this estimate is set to change.

With the estimated cost of the conflict combined with a series of natural catastrophes and the continuing pandemic in the US, Scor warns that these developments are likely to result in a quarterly loss. However, it says this is very well capitalised.


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