SCOR Slips To Loss In Q3 On Weak Insurance Revenues

(RTTNews) - French reinsurer SCOR SE reported Thursday that its third-quarter Group net loss was 117 million euros, compared to prior year's profit of 147 million euros, impacted by the 2024 L&H assumption review.

Loss per share was 0.65 euro, compared to profit of 0.82 euro a year ago.

Adjusted for one-offs, the Group net income would stand at 150 million euros, the company said.

Insurance revenue dropped 6.9 percent to 3.94 billion euros from last year's 4.24 billion euros. Gross written premiums, however, increased 2.4 percent to 4.99 billion euros from 4.87 billion euros last year.

In the quarter, P&C insurance revenue fell 2.9 percent year-over-year to 1.84 billion euros, and L&H insurance revenue dropped 10.1 percent to 2.10 billion euros.

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