SCOR: 2023 objectives under IFRS 17

Magazine Issue:

Atlas Magazine, 20 years of publication [3]

Magazine date:

Apr 2023

Scor Following its transition to the new IFRS 17 accounting standards, the SCOR group [4] has set two main targets for the year 2023:

an economic value growth rate, measured according to IFRS 17 standards between 31 December 2022 and 31 December 2023, of 700 basis points above the risk-free rate at constant interest and foreign exchange rate assumptions
a solvency ratio at the top end of the optimal range 185-220%.

These objectives are based on financial assumptions for the year 2023, including an increase between 2% and 4% in gross revenues and a ROE above 1 100 basis points above the risk-free rate.

The French reinsurer will publish its results for Q1 2023 under IFRS 17 on 12 May 2023.

Thierry Léger, who will assume his duties as CEO of SCOR on 1 May 2023, will mainly be responsible for developing a strategic plan under IFRS 17 that will allow the group to fully benefit from the favorable market conditions.