Scor End-June Solvency Ration At 201%
July 30 (Reuters) -Scor SE SCOR.PA:
SECOND QUARTER 2024 RESULTS: DESPITE VERY STRONG P&C RESULTS AND INVESTMENTS PERFORMANCES, SCOR POSTS A EUR -308 MILLION NET LOSS IN Q2 2024 (EUR -112 MILLION NET LOSS IN H1 2024), DRIVEN BY THE 2024 L&H ASSUMPTION REVIEW
CONTINUED VERY STRONG PERFORMANCE OF P&C, WITH A COMBINED RATIO OF 86.9% IN Q2 2024
L&H INSURANCE SERVICE RESULT OF EUR -329 MILLION IN Q2 2024
GROUP NET LOSS OF EUR -308 MILLION IN Q2 2024
ESTIMATED GROUP SOLVENCY RATIO OF 201% AS OF 30 JUNE 2024
WE HAVE LAUNCHED AN AMBITIOUS 3-STEP PLAN RESULTING IN A SERIES OF DETERMINED ACTIONS AIMING AT RESTORING PROFITABILITY OF L&H BUSINESS IN A SUSTAINABLE WAY - CEO
FRIEDER KNÜPLING, CEO OF SCOR L&H SINCE 2021 WILL LEAVE GROUP
Q2 2024 NET INCOME IS EUR -308 MILLION (EUR -283 MILLION ADJUSTED)
NEW L&H BUSINESS STRATEGY AND UPDATED FORWARD 2026 TARGETS AND ASSUMPTIONS WILL BE PRESENTED ON 12 DECEMBER 2024
HIGH INVESTMENTS REGULAR INCOME YIELD OF 3.6% IN Q2 2024
ANNUALIZED RETURN ON EQUITY OF -23.7% (-21.9% ADJUSTED) IN Q2 2024
Source text for Eikon: ID:nGNE1BfL1f
Further company coverage: pSCOR.PA]
(Gdansk Newsroom)
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