Scor: H1 net income down 90.9%
(CercleFinance.com) - Absorbing the shock of the crisis stemming from the Covid-19 pandemic, Scor has reported net income that is down 90.
9% at 26 million euros for the first half of 2020, representing an annualised ROE of 0.8%, 23 basis points above the risk-free rate.
Gross premiums issued reached 8,195 million euros, up 1% at constant exchange rates (+2.3% as reported). Meanwhile, , at 4.7% of gross written premiums, the reinsurance group's cost ratio is better than the assumption set in its "Quantum Leap" plan of approximately 5%.
Based on available data, the total estimated cost of the Covid-19 pandemic recorded in Scor's Q2 2020 accounts amounts to 456 million euros (net of retrocession, net of reinstatement premiums and before tax).
Copyright (c) 2020 CercleFinance.com. All rights reserved.
9% at 26 million euros for the first half of 2020, representing an annualised ROE of 0.8%, 23 basis points above the risk-free rate.
Gross premiums issued reached 8,195 million euros, up 1% at constant exchange rates (+2.3% as reported). Meanwhile, , at 4.7% of gross written premiums, the reinsurance group's cost ratio is better than the assumption set in its "Quantum Leap" plan of approximately 5%.
Based on available data, the total estimated cost of the Covid-19 pandemic recorded in Scor's Q2 2020 accounts amounts to 456 million euros (net of retrocession, net of reinstatement premiums and before tax).
Copyright (c) 2020 CercleFinance.com. All rights reserved.