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The SCOR group has posted a net loss of 112 million EUR (120 million USD) for the first half of 2024, compared with a net profit of 502 million EUR (546.7 million USD) for the same period in 2023.
This decline is mainly due to the negative net result of -308 million EUR (-329.9 million USD) recorded in the second quarter of 2024, impacted by the revision of L&H (life and health) assumptions.
During the second quarter of the current year, SCOR L&H reported a negative result from its insurance activities amounting to -329 million EUR (-352.4 million USD). The same indicator stood at -257 million EUR (-275.2 million USD) for the first half of 2024.
The non-life business (P&C) achieved a good half-yearly performance, with a positive insurance result of 383 million EUR (410.3 million USD) and a combined ratio of 87%.
The French group's total insurance income for the first half of 2024 reached 8.198 billion EUR (8.8 billion USD), up by 4.4% over one year.
The company's economic value (shareholders' equity + contractual service margin “CSM”) declined by 10.1% to 8.425 billion EUR (9 billion USD).
The solvency ratio, estimated at 201% as at 30 June 2024, is within the optimum range of 185%-220%.
