SCOR: H1 2023 results

After recording a net loss of 240 million EUR (251.7 million USD) during the first quarter of 2022, SCOR reported a net profit of 192 million EUR (209.1 million EUR ) as at 30 juin 2023.

For the first half of 2023 as a whole, the net profit amounted to 502 million EUR (526.5 million USD) against a loss of 275 million EUR (288.4 million USD) during first half of 2022.

The insurance revenue, the equivalent of turnover following the entry into force of the new IFRS 17 accounting standards, amounted to 7.855 billion EUR (8.6 billion USD), down 0.3% compared to the same period of 2022.

P&C H1 2023 revenues grew by 6% to 3.659 billion EUR (4 billion USD). The combined ratio improved by 18.8 points to 86.9%.

Life and health (L&H) activity posted a declining revenue of 4.196 billion EUR (4.6 billion USD), down 5.3%.

SCOR's economic value, defined by IFRS 17 as the sum of the shareholders' equity and cthe ontractual services margin (CSM), is set at 9.374 billion EUR (10.2 billion USD).