|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||23.10 - 23.84|
|52 Week Range||15.88 - 39.81|
|Beta (5Y Monthly)||1.07|
|PE Ratio (TTM)||9.89|
|Earnings Date||Jul 23, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Apr 21, 2020|
|1y Target Est||37.88|
SCOR does not communicate "profit forecasts" in the sense of Article 2 of (EC) Regulation n°809/2004 of the European Commission. Thus, any forward-looking statements contained in this communication should not be held as corresponding to such profit forecasts.
SCOR has been informed of Standard & Poor’s (S&P) decision to affirm the financial strength rating for the Group and its main subsidiaries at “AA-”, with a “stable outlook”. According to S&P, this decision reflects their expectation that SCOR “will maintain capital adequacy above the 'AAA' level under S&P’s risk-based model and improve earnings in 2021-2022, with market leading positions in life and P&C reinsurance”.
The Combined General Meeting of SCOR SE was held on June 16, 2020, at the Group’s headquarters at 5, avenue Kléber, 75016 Paris, and was chaired by Mr. Denis Kessler, Chairman and Chief Executive Officer of SCOR SE. In accordance with article 10 of the Decree n° 2020-548 of May 11, 2020, this General Meeting was held without the physical presence of shareholders. All of the resolutions proposed by the Board of Directors were adopted by the General Meeting of shareholders.
SCOR strengthens its sustainable actions towards a low-carbon economy within its investment portfolio and joins the Net-Zero Asset Owner Alliance as of May 27, 2020. Launched in September 2019 during the United Nations Climate Action Summit, the Net-Zero Asset Owner Alliance is an international initiative bringing together investors who are committed to transitioning their investment portfolios to carbon neutrality by 2050. By joining this initiative, SCOR has entered a new phase in its implementation of climate and energy transition measures.
In view of the Group’s performance in 2019, the Board of Directors of SCOR SE, at its meeting of February 26, 2020, had decided to propose to the Shareholders’ Meeting scheduled to be held on April 17, 2020, that a gross dividend of EUR 1.80 per share be distributed for the 2019 fiscal year, in line with SCOR’s attractive shareholder remuneration policy. Given the difficulties of holding Shareholders’ Meetings in the context of the Covid-19 pandemic, the Board of Directors of SCOR SE, at its meeting of March 27, 2020, decided to postpone its Annual Shareholders’ Meeting, which will now be held on June 16, 2020.
The SCOR-PSE Chair, created in 2018 by the SCOR Foundation for Science and the Paris School of Economics (PSE), has presented, during the SCOR-PSE Chair Online Lecture and Junior Research Prize Talk, the Young Researcher Award to Ludwig Straub and Robert Ulbricht, respectively Assistant Professor at Harvard and Assistant Professor at Boston College. The award is in recognition of their work on Endogenous Uncertainty and Credit Crunches.
SCOR has successfully sponsored a new catastrophe bond (“cat bond”), Atlas Capital Reinsurance 2020 DAC, which will provide the Group with multi-year risk transfer capacity of USD 200 million to protect itself against storms in the U.S. and earthquakes in the U.S. and Canada. The risk period for Atlas Capital Reinsurance 2020 DAC will run from April 30, 2020, to May 31, 2024. The issue has received the approval of the Central Bank of Ireland (CBI) and the Irish regulatory authorities.
Press ReleaseApril 29, 2020 - N° 10 First quarter 2020 results SCOR delivers strong results in Q1 2020with a net income of EUR 162 million Throughout the past.
SCOR has been informed of Fitch’s decision to affirm the Group’s Financial Strength Rating of ‘AA-‘ (Very Strong) and Long-Term Issuer Default Rating (IDR) at 'A+'. Fitch has also affirmed the ratings of SCOR's core operating subsidiaries. According to Fitch, this decision reflects “Fitch’s current assessment of the impact of the coronavirus pandemic, including its economic impact, under a set of rating assumptions.”
At the April 1, 2020 reinsurance renewals, SCOR Global P&C grew gross premiums up for renewal by 5.7%1 at constant exchange rates2 to EUR 504 million, while benefitting from broadly improving market conditions as evidenced by a 6.6% overall increase in pricing1. In Japan, SCOR Global P&C generated a 5.4% growth, achieving its objective to secure price increases and incremental profitable cessions, while partially redeploying its capacity from lower to higher layers following two years characterized by major Cat impacts. In India, SCOR Global P&C leveraged its local infrastructure to grow its portfolio and benefit from local market conditions which started to improve in 2019, resulting in circa 30% premium increase.
In this dynamic world of risk, our industry has a leading role to play in economic and societal development, and our CSR agenda has become an integral of part of SCOR's identity and culture. This report explores our past, our ever-changing present, and our limitless future.
Given the difficulties of holding annual shareholders’ meetings in the current context of the COVID-19 pandemic, at the request of the Chairman and CEO, the Board of Directors of SCOR SE at its meeting of March 27, 2020, decided to postpone the holding of its Annual Shareholders’ Meeting to June 30, 2020. A press release will be issued at a later date to inform shareholders of the arrangements for the Annual Shareholders’ Meeting. SCOR does not communicate "profit forecasts" in the sense of Article 2 of (EC) Regulation n°809/2004 of the European Commission.
The corresponding notice of meeting was published in the Bulletin des Annonces Légales Obligatoires (BALO) (Bulletin n°32) of March 13, 2020, and contains the agenda and the draft text of the resolutions to be submitted to the vote of the General Meeting of shareholders. The Convening Notice will be published in the forthcoming BALO of April 1st, 2020, as well as in the Journal Spécial des Sociétés. According to the BALO meeting notice, the Company proposes to submit to the General Meeting of shareholders the distribution of a dividend amounting to 1.80 EUR per share.
SCOR’s 2019 Universal Registration Document (“Document d’enregistrement universel”) was filed with the French financial market authority, the Autorité des marchés financiers (AMF), on March 13, 2020. This document is available on SCOR’s website www.scor.com and the AMF website www.amf-france.org.
Press ReleaseFebruary 27, 2020 - N° 4 2019 Annual Results SCOR in 2019: profitable growth, strong capital generation, high solvency Net.
SCOR acquires control of AgroBrasil Administração e Participações Ltda (“AgroBrasil”), Brazil’s family-owned leading Managing General Agent distributing fruit and grain loss of crop quality and yield insurance protection to Brazilian farmers. As part of its “Quantum Leap” strategic plan, SCOR committed to developing a 360° P&C risk-taking platform, providing access to profitable growth opportunities and reinforcing technical risk expertise through proximity to both risks and clients. The AgroBrasil acquisition secures access to a growing and profitable market for SCOR’s P&C reinsurance and specialty insurance activities and strengthens SCOR’s expertise in agriculture, ultimately enabling greater knowledge-sharing, better client-servicing and additional business opportunities across SCOR’s P&C global platform.
Press Release February 6, 2020 - N° 2 January 2020 P&C Renewal Results SCOR proactively manages the cycle and improves profitability with disciplined.
In 2019, SCOR initiated criminal and civil proceedings in France against Thierry Derez and Covéa, as well as civil proceedings in the UK against Barclays, to sanction and remedy the alleged misconduct having resulted from, inter alia, the unlawful misappropriation, disclosure, communication and use of SCOR's sensitive and strictly confidential documents and information, which Thierry Derez had access to as a director of SCOR in his personal capacity. The SCOR group considers that this misconduct was committed with the aim of wrongfully favoring the preparation and submission by Covéa of its unsolicited takeover proposal for SCOR.
Every year since 1996, SCOR has rewarded the best academic work in the field of actuarial science with annual prizes in several countries throughout the world. The SCOR Actuarial Awards are recognized in the insurance and reinsurance industries as a mark of excellence. The Actuarial Awards in France are supported by the SCOR Corporate Foundation for Science.
The New Notes issue will bear the same terms and conditions as the Original Notes. SCOR intends to use the proceeds of the issuance for general corporate purposes. SCOR also confirms its current intention, subject to market conditions and regulatory approval, to redeem the CHF 125 million undated subordinated note lines, issued on October 20, 2014, and callable in October 2020 using the proceeds of the New Notes.
SCOR announces the launch of a new 3-year contingent capital facility. This takes the form of a contingent equity line, providing the Group with EUR 300 million coverage in case of extreme natural catastrophe or life events impacting mortality. This is the fourth contingent capital facility launched by SCOR – its first, pioneering solution was launched on January 1, 2011.