SCOR sees total unrealised gains on invested assets rise by €208m

Written by Adam Cadle

10/09/2020

SCOR has recorded total unrealised gains on invested assets of around €680m, up €208m compared to 31 December 2019.

SCOR Global Investments portfolio, which amounts to €20.7bn as of 30 June 2020 is highly liquid with €8.7bn of financial cashflows to be reinvested in the next 24 months. Its credit portfolio is designed to be very resilient, even faced with a significant deterioration of the economic environment.

After a voluntary freeze of its reinvestment activity between March and May 2020, SCOR Global Investments has resumed in June 2020 its investment strategy on credit markets and value-creation assets, reflecting an improved economic outlook and a less volatile market context.

SCOR Global Investments continues to execute the ‘Quantum Leap’ roadmap and accelerates its sustainability journey towards carbon neutrality.

SCOR Global Investment’s revised investment assumptions are an annualised return on invested assets estimated at around 2.2% for FY 2020; and an average return on invested assets over the course of the ‘Quantum Leap’ plan at 2.4% to 2.9%.

The plan runs from 1 July 2019, to until 31 December 2021, to coincide with the new IFRS 17 accounting standard that the group will implement effective 1 January 2022. 

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