(CercleFinance.com) – Scor publishes net income of 196 million euros for the first three months of 2024, down 36.8% year-on-year, representing an annualized return on equity (RoE) of 17. 3%, down 12.4 points.
In adjusted data, that is to say excluding the impact of the variation in the fair value of the option on Scor’s own shares since the end of 2023, the reinsurer achieved a net result of 176 million euros and a RoE annualized by 15.5%.
The group displays a combined ratio up to 87.1% in P&C (re)insurance, a sharp drop in insurance activity income to 72 million euros in L&H, but a current rate of return on investments improved to 3 .5%.
The solvency ratio is estimated at 215% at the end of the first quarter of 2024, at the high end of the optimal range of 185-220% and compared to 209% at the end of 2023, driven by good generation of operational capital in (re )P&C insurance.