Still penalized by its life and health business, the French reinsurer remained in the red in the third quarter. Its Chairman remains confident in his ability to turn things around.
It remains a delicate period for Scor. As expected, the French reinsurer (insurer of insurers) remained in the red in the third quarter, with a net loss of 117 million euros. Between April and June, it had already posted a loss of 308 million euros. Scor continues to be penalized by its life and health insurance branch, which accounts for half of its business. It alone lost 210 million euros in the third quarter. The cause: the death insurance business, which is struggling in the United States. And difficulties in Israel (to be wound up in 2019) and South Korea.
After identifying problems in early 2024, the Group launched an in-depth audit of these legacy portfolios. The review is now complete. “The results are in line with what we announced in July.assures Fabrice BrégierScor’s Chairman since June 2023. The group had to increase provisions to cope with losses on certain contracts…
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