SCOR announces the publication of its interim financial report for
the six months ended June 30, 2023
Press ReleaseJuly 28, 2023 - N° 16
SCOR announces the publication of its
interim financial report for the six months ended June
30, 2023
SCOR announces the public release and the filing
with the Autorité des marchés financiers of its interim financial
report for the six months ended June 30, 2023.
The interim financial report for the six months
ended June 30, 2023 is available in the “Regulated Information”
section of the company's website at www.scor.com.
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Contact details
Media RelationsAlexandre
Garciamedia@scor.com
Investor RelationsYves
Cormier ycormier@scor.com
www.scor.com
LinkedIn: SCOR | Twitter: @SCOR_SE
General
Numbers presented throughout this document may
not add up precisely to the totals in the tables and text.
Percentages and percent changes are calculated on complete figures
(including decimals); therefore, the document might contain
immaterial differences in sums and percentages due to rounding.
Unless otherwise specified, the sources for the business ranking
and market positions are internal.
Forward-looking statements
This document includes forward-looking
statements, assumptions, and information about SCOR’s financial
condition, results, business, strategy, plans and objectives,
including in relation to SCOR’s current or future projects.
These statements are sometimes identified by the
use of the future tense or conditional mode, or terms such as
“estimate”, “believe”, “anticipate”, “expect”, “have the
objective”, “intend to”, “plan”, “result in”, “should”, and other
similar expressions.
It should be noted that the achievement of these
objectives, forward-looking statements, assumptions and information
is dependent on circumstances and facts that arise in the
future.
No guarantee can be given regarding the
achievement of these forward-looking statements, assumptions and
information. These forward-looking statements, assumptions and
information are not guarantees of future performance.
Forward-looking statements, assumptions and information (including
on objectives) may be impacted by known or unknown risks,
identified or unidentified uncertainties and other factors that may
significantly alter the future results, performance and
accomplishments planned or expected by SCOR.
In particular, it should be noted that the full
impact of the inflation and geopolitical risks including but not
limited to the Russian invasion and war in Ukraine on SCOR’s
business and results cannot be accurately assessed.
Therefore, any assessments, any assumptions and,
more generally, any figures presented in this document will
necessarily be estimates based on evolving analyses, and encompass
a wide range of theoretical hypotheses, which are highly
evolutive.
These points of attention on forward-looking
statements are all the more essential that the adoption of IFRS 17,
which is a new accounting standard, results in significant
accounting changes for SCOR.
Information regarding risks and uncertainties
that may affect SCOR’s business is set forth in the 2022 Universal
Registration Document filed on April 14, 2023, under number
D.23-0287 with the French Autorité des marchés financiers (AMF)
posted on SCOR’s website www.scor.com.
In addition, such forward-looking statements,
assumptions and information are not “profit forecasts” within the
meaning of Article 1 of Commission Delegated Regulation (EU)
2019/980.
SCOR has no intention and does not undertake to
complete, update, revise or change these forward-looking
statements, assumptions and information, whether as a result of new
information, future events or otherwise.
Financial information
The Group’s financial information contained in
this document is prepared on the basis of IFRS and interpretations
issued and approved by the European Union.
IFRS 17 is a new accounting standard applicable
to insurance and reinsurance contracts. IFRS 17 has replaced IFRS 4
since January 1, 2023. The adoption of IFRS 17 results in
significant accounting changes for SCOR. Any assessments,
assumptions, estimates or expectations under or relating to IFRS 17
in this document reflect SCOR’s current view of the impact of IFRS
17.
Unless otherwise specified, prior-year balance
sheet, income statement items and ratios have not been
reclassified.
The calculation of financial ratios (such as
economic value per share, return on invested assets, management
expenses ratio, return on equity and combined ratio) is detailed in
the Appendix of this document.
The first half 2023 financial information has
been subject to the completion of a limited review by SCOR’s
independent auditors. The solvency ratio is not audited by SCOR’s
Statutory Auditors.
Any figures for a period subsequent to June 30,
2023 should not be taken as a forecast of the expected financials
for these periods.
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