Scor: 9m net income multiplied by 2.5
(CercleFinance.com) - Scor has reported a 151.
1% increase in net income to 339 million euros for the first nine months of 2021, with an annualised return on equity (ROE) of 7.3%, i.e. 683 basis points above the risk-free rate.
The reinsurer's gross written premiums increased by 10.1% to 13.05 billion euros (+6.2% at current exchange rates) and its cost ratio stood at 4.3% of gross written premiums, below the assumption of around 5% in the "Quantum Leap" plan.
In addition, Scor announced a 200 million euro share buyback program, starting on 28 October and to be completed by March 2022 at the latest, which it says is an accretive way to deploy capital and create shareholder value.
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