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Scor SE
SCRYY.PKISIN: US80917Q1067SEDOL: 2776796 |
Rating: HOLD |
Target Price: 1.90 USD |
Investment Horizon: 6 to 12 months |
3Q 08 Update Report
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Scor SE’s (Scor) adjusted2 total revenues were significantly higher than our expectations as a result of stronger-than-expected premium growth, partially limited by lower-than-expected net investment income. Adjusted net income was less-than-expected as loss expenses exceeded our expectations. We expect premiums to continue to be positively impacted by successful integration of Revios and Converium and now expect improvement…
Company News Alert
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Scor SE’s (Scor) common stock achieved our target price on 11 December 2008. The increase in price partly reflects optimism over the upgrade of the company’s financial strength rating from A3 to A2 by Moody on 04 December 2008 coupled with successful integrations of both Revios and Converium....
3Q 08 News Alert
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Scor SE’s (Scor) adjusted1 total revenues were higher than our estimate in 3Q 08, however bottomline was lower than expectations. The company reported a strong premium performance reflecting benefits from the Converium acquisition. Considering better-than-expected top-line growth, we are likely to revise our estimates upwards when we come to revalue the common stock. Therefore, we maintain our BUY rating…
2Q 08 Update Report
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Scor SE (Scor) reported strong growth in 2Q 08 total revenues and net income, above our expectations, primarily driven by higher-than-expected synergistic benefits from the acquisition of Converium Holding AG (Converium) in 3Q 07....
2Q 08 News Alert
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Scor Holdings Ltd’s (Scor) 2Q 08 adjusted1 total revenues and net profit were higher than our expectations. The company’s written premiums benefitted from synergies from the Converium acquisition during 3Q 07. Given our fundamental outlook and current price levels, we maintain our current BUY rating for the NYSE common stock....
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