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Report Finds Hundreds More Died In Texas Winter Storm Than State Says
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SCOR Q1 income plunges amid COVID and nat cat hits
28-04-2021
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29-09-2017
In Q1 2021, SCOR’s financial results have been significantly impacted by the unique combination of known and modelled COVID-19 claims development and a series of large natural catastrophes, driven by a polar vortex causing Texas Winter Storm Uri.
SCOR said COVID-19 claims are manageable, developing as expected and tracking closely in line with what was previously communicated. In Q1 2021, COVID-19 impact stands on the life side at €162 million, of which €145 million comes from the US mortality portfolio, and overall has been stable on the P&C side since December 31, 2020.
once again in Q1 2021
In Q1 2021, SCOR’s financial results have been impacted by the unique combination of known and modelled Covid-19 claims development and a series of large natural catastrophes, driven by a polar vortex causing Texas Winter Storm Uri.
Covid-19 claims are manageable, developing as expected and tracking closely in line with what was previously communicated
1. In Q1 2021, Covid-19 impact stands on the Life side at EUR 162 million
2, of which EUR 145 million comes from the U.S. mortality portfolio, and overall has been stable on the P&C side since December 31, 2020.
The SCOR group continues to grow and to absorb shocks. SCOR records a net income of EUR 45 million in Q1 2021 and delivers a very high solvency of 232%, which reflects all expected future Covid-19 impacts and is above the optimal solvency range of 185% to 220% defined in “Quantum Leap”.