on SCOR (EPA:SCR)
SCOR announces its financial results for the second quarter of 2024
SCOR has published its results for the second quarter of 2024. The decision to accelerate the annual review of assumptions relating to L&H provisions has led to the inclusion of the best estimate of impacts in the results. Thus, the result of L&H insurance activities (ISR) for the quarter is estimated at -0.4 billion euros, still affected by a negative experience gap.
L&H contractual services margin (CSM) for the second quarter is adjusted to -€0.9 billion. The economic value of the Group is expected between 8.3 and 8.5 billion euros. SCOR plans to maintain a Solvency II ratio above 200%.
The adjustments aim to strengthen cash flow projections and reduce the volatility of future profits without impacting the group's liquidity. SCOR will publish its full results for the second quarter on July 30, 2024. A review of the Forward 2026 plan and the L&H strategy will be presented on December 12, 2024.
Thierry Léger, CEO, underlines the importance of these actions for the sustainable profitability of the L&H activity. P&C and investment activities continue to perform well.
R. H.
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