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SCRYY.PK on OTC Markets Group

13 Jan 2017
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$0.03 (+0.90%)
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Latest Key Developments (Source: Significant Developments)

Scor receives authorization to open a composite branch office in India
Tuesday, 27 Dec 2016 11:37am EST 

Scor : Scor receives the authorization to open a composite branch office in India . Insurance Regulatory and Development Authority of India granted SCOR R3 authorization, allowing group to open composite branch office in India to conduct Life and P&C reinsurance business ."Our local team will be ready to provide business solutions to our Indian clients as of the 1 April 2017 renewals" - CEO.  Full Article

Scor redeems balance of undated subordinated note lines
Wednesday, 3 Aug 2016 02:25am EDT 

Scor SE :Redeems the balance of its 350 million euro ($392.18 million) and 650 million Swiss franc undated subordinated note lines.  Full Article

Scor H1 gross written premiums at 6,735 million euros, up 5.9%
Wednesday, 27 Jul 2016 01:13am EDT 

Scor : Gross written premiums reach 6,735 million euros at end of first six months of 2016, up 5.9 pct at constant exchange rates compared to 2015 (+3.7 pct at current exchange rates) . H1 net income 275 million euros versus 327 million euros a year ago . Scor's estimated solvency ratio at 30 June 2016 , adjusted for redemption of two debts callable in Q3 2016, stands at 210 pct . Records net income of 275 million euros for the first six months of 2016, confirming the strength of its business model . Group net income reaches 275 million euros in H1 2016, down 15.9 pct compared to h1 2015 . During period, Scor global investments has proactively decreased its exposure to financial sector and has no remaining exposure to UK, Italian or Spanish bank debt . Says concerning consequences of UK referendum , scor does not foresee any negative impact on its strategy .Full-Year 2016 premium growth is expected to normalize at approximately +5 pct versus 2015.  Full Article

Scor successfully places 500 million euro dated subordinated notes
Tuesday, 24 May 2016 12:53pm EDT 

Scor : Successfully places 500 million euro ($557.4 million) dated subordinated notes . Coupon has been set to 3.625 pct (until 27 May 2028 first call date), and resets every 10 years at prevailing 10 years euro mid-swap rate + 3.90% . Confirms its current intention to redeem balance of 350 million euro and CHF 650 million undated subordinated note lines, callable in July and August 2016 respectively . Notes are expected to be rated A by Standard & Poor's and A- by FITCH .Settlement is expected to take place on 27 May 2016.  Full Article

Covéa says to have bought about 5.64 pct of Scor capital
Sunday, 10 Apr 2016 08:00pm EDT 

Scor SE:Covéa group says to have bought about 5.64 pct of Scor capital to increase its shareholding to 7.67 pct.  Full Article

Scor comments on FY 2016 guidance, proposes FY 2015 dividend of EUR 1.50/share
Wednesday, 24 Feb 2016 01:30am EST 

Scor SE:Proposes an FY 2015 dividend of 1.50 euro per share.For 2016, given mounting headwinds, estimated return on invested assets could be in range of 2.8 pct to 3.1 pct.  Full Article

Scor raises outlook on Scor to "positive" from "stable"
Tuesday, 15 Dec 2015 01:10pm EST 

Scor SE:Moody's investors service has raised outlook of Scor to "positive" from "stable", and has affirmed its financial strength rating of "A1" and its "A3" (hyb) subordinated debt rating.Moody's has revised to "positive" outlook of various Scor SE subsidiaries and affirmed their ratings at "A1".  Full Article

Scor acknowledges Sompo's decision not to execute its plan
Tuesday, 15 Dec 2015 07:40am EST 

Scor SE:Scor acknowledges decision taken by Sompo 8630.T not to execute its plan announced on March 6, 2015.This plan included acquisition of 8.1 pct of voting rights in Scor, and an intention to increase its holding to 15 pct and apply the equity accounting method to its Scor holding.To Scor's knowledge, this decision is not the result of a reassessment by Sompo of Scor's financial outlook, business and prospects.  Full Article

Scor successfully places 600 million euros dated subordinated notes
Wednesday, 2 Dec 2015 11:48am EST 

Scor SE:Successfully places 600 million euros dated subordinated notes, to refinance its CHF debt callable in August 2016.Settlement is expected to take place on 7 December 2015.  Full Article

Scor confirms FY 2015 and FY 2016financial guidance
Wednesday, 9 Sep 2015 01:16am EDT 

Scor SE:Firmly on track in terms of its strategic targets.Estimated FY 2015 solvency ratio of about 204 pct after changes made for purposes of Solvency II.ROE exceeding 1,000 basis points above three-month risk-free rate in first half of 2015.Confirms that its two strategic targets as defined in "Optimal Dynamics" plan are within reach.A solvency target characterized as a solvency ratio in 185-220 pct range is within reach.Profitability target defined as an ROE of 1,000 basis points above three-month risk-free rate over cycle is within reach.Reaffirms its consistent shareholder remuneration policy.Scor Global P&C expects to reach gross written premiums of approximately 6 billion euros ($6.69 billion) in FY 2016, which would translate into a compound annual growth rate of 7 pct between 2013 and 2016.Scor Global P&C expects to deliver a normalized net combined ratio of about 94 pct for 2015E and 2016E.Scor Global Life is on track to reach gross written premiums of approximately 7.9 billion euros in 2016.Scor Global Life also confirms that its technical margin assumption of 7 pct is within reach.Scor Global Investments expects to have 1.5 billion euros in assets under management by 2016.  Full Article

BRIEF-Scor 9 mth gross written premiums up 4.4 pct

* Reports net income of 438 million euros ($477.6 million) for first nine months of 2016, confirming strength of its business