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Insurance: natural disasters throw Scor into the red

2021-10-27T18:01:50.900Z

The reinsurer suffered a loss of 41 million in the third quarter. The succession of natural disasters, including the floods in Europe and the passage of Hurricane Ida on the northwest coast of the United States this fall, can be read in the accounts of Scor, whose business it is to insure insurers. They turned red in the third quarter of 2021, posting a net loss of 41 million euros. However, Scor has shown "its ability to absorb shocks" with results over the fir



The succession of natural disasters, including the floods in Europe and the passage of Hurricane Ida on the northwest coast of the United States this fall, can be read in the accounts of Scor, whose business it is to insure insurers. They turned red in the third quarter of 2021, posting a net loss of 41 million euros. However, Scor has shown

"its ability to absorb shocks"

with results over the first nine months of 2021, described on Wednesday as

"resilient"

by Laurent Rousseau, CEO of the group. This, despite 708 million euros of charges on the accounts since January 2021, for natural disasters, including 343 million for the only floods in Europe and Hurricane Ida.

Read also

Denis Kessler leaves the general management of the reinsurer Scor

The quarterly loss is also lower than expected.

These are

“clearly positive

results

, with“ catastrophe ”claims, lower than feared”

, as well as

“faster than expected growth due to rising prices

(reinsurance premiums,

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Source: lefigaro

All business articles on 2021-10-27

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