L&H

SCOR successfully sponsors a new catastrophe bond, Atlas Capital DAC Series 2023-1

Retrieved on: 
Friday, May 26, 2023

SCOR successfully sponsors a new catastrophe bond, Atlas Capital DAC Series 2023-1

Key Points: 
  • SCOR successfully sponsors a new catastrophe bond, Atlas Capital DAC Series 2023-1
    SCOR has successfully sponsored a new catastrophe bond (“cat bond”), Atlas Capital DAC Series 2023-1, which will provide the Group with multi-year risk transfer capacity of USD 75 million to protect itself against named storms in the U.S. and earthquakes in the U.S. and Canada, as well as European windstorms.
  • The risk period for Atlas Capital DAC Series 2023-1 will run from June 1st, 2023, to May 31st, 2026.
  • Despite a significant market hardening since the end of 2022, Atlas Capital DAC Series 2023-1 was well received and benefited from high investor demand.
  • Atlas Capital DAC Series 2023-1 is an aggregate, index-based trigger cat bond issued by Atlas Capital DAC, a multi-arrangement special purpose vehicle approved in Ireland under Solvency II.

SCOR’s Combined General Meeting of 25 May 2023: SCOR shareholders adopt all the proposed resolutions

Retrieved on: 
Thursday, May 25, 2023

All the resolutions proposed by the Board of Directors were approved by the General Meeting.

Key Points: 
  • All the resolutions proposed by the Board of Directors were approved by the General Meeting.
  • The General Meeting approved the appointment of SCOR SE CEO Thierry Léger as a director of SCOR SE.
  • The General Meeting ratified the provisional appointment of Martine Gerow as a director.
  • Finally, the General Meeting approved the payment of a dividend of EUR 1.40 per share for the 2022 financial year.

Next wave of life expectancy gains is on the horizon, says Swiss Re report

Retrieved on: 
Monday, May 22, 2023

Paul Murray, Swiss Re's CEO of L&H Reinsurance, explains: "While people continue to dream of life expectancy surpassing 100 years, the gains of the last century are under threat.

Key Points: 
  • Paul Murray, Swiss Re's CEO of L&H Reinsurance, explains: "While people continue to dream of life expectancy surpassing 100 years, the gains of the last century are under threat.
  • Life expectancy improvements typically come in waves following major medical breakthroughs or large-scale social trends, such as smoking cessation.
  • In the twentieth century, pharmaceutical innovations which lowered blood pressure and cholesterol triggered a steep improvement in life expectancy.
  • According to Swiss Re's report, advances in cancer treatments and diagnosis have the highest potential to kickstart life expectancy improvements.

First quarter 2023 results under IFRS 17: SCOR generates a net income of EUR 311 million and significantly increases its Economic Value in Q1 2023

Retrieved on: 
Friday, May 12, 2023

Group insurance revenue stands at EUR 3,926 million in Q1 2023, down 4.2% at constant exchange rates (down 2.0% at current exchange rates) compared with Q1 2022.

Key Points: 
  • Group insurance revenue stands at EUR 3,926 million in Q1 2023, down 4.2% at constant exchange rates (down 2.0% at current exchange rates) compared with Q1 2022.
  • The insurance service result7 stands at EUR 272 million and new business CSM stands at EUR 192 million in Q1 2023.
  • SCOR Investments delivers a return on invested assets of 2.9%8 and a regular income yield of 2.8%9 in Q1 2023.
  • The Group net income stands at EUR 311 million for Q1 2023, implying an annualized return on equity of 29.7%.

2023 targets and financial assumptions under IFRS 17 - SCOR targets Economic Value growth as its financial priority

Retrieved on: 
Wednesday, April 12, 2023

SCOR will present its 2023 Q1 results under IFRS 17 on May 12, 2023.

Key Points: 
  • SCOR will present its 2023 Q1 results under IFRS 17 on May 12, 2023.
  • The outline of the new strategic plan under IFRS 17 will be presented at the Annual General Meeting on May 25, 2023.
  • As of Q1 2023, the Group will publish its financial results under the new IFRS 17 accounting standard.
  • Economic Value as of December 31, 20224
    Under IFRS 17, the Group’s Economic Value as of December 31, 2022, is estimated at EUR 8.7 billion5.

Majesco and EvolutionIQ Partner to Expand AI-Powered Claims Guidance for Disability Insurance Lines

Retrieved on: 
Thursday, March 30, 2023

Majesco, a global leader of cloud insurance platform software for insurance business transformation, today announced a partnership to integrate EvolutionIQ’s AI-powered Claims Guidance platform with Majesco’s suite of disability insurance claims technology solutions.

Key Points: 
  • Majesco, a global leader of cloud insurance platform software for insurance business transformation, today announced a partnership to integrate EvolutionIQ’s AI-powered Claims Guidance platform with Majesco’s suite of disability insurance claims technology solutions.
  • These include Majesco Claims for L&AH and Majesco ClaimVantage Claims for L&H.
  • The integration is part of the Majesco EcoExchange, which is a next-generation marketplace of partner technologies designed to help the insurance industry meet the demands of today’s digital customer.
  • “EvolutionIQ with Majesco Claims solutions for the L&AH segment offers our customers and the industry a significant opportunity to transform the claims dynamics for disability and workers compensation,” said Adam Elster, CEO at Majesco.

Ping An reports RMB148,365 million of operating profit attributable to shareholders of the parent company in 2022, annual cash dividend per share grows by 1.7% year on year

Retrieved on: 
Wednesday, March 15, 2023

HONG KONG and SHANGHAI, March 15, 2023 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An of China," "Ping An," or the "Group," HKEX: 2318; SSE: 601318) today announced its financial results for the year ended December 31, 2022.

Key Points: 
  • Ping An achieved a 17.9% operating ROE, with operating profit attributable to shareholders of the parent company rising 0.3% year on year to RMB148,365 million in 2022.
  • Net profit and net profit attributable to shareholders of the parent company amounted to RMB107,432 million and RMB83,774 million respectively.
  • Ping An achieved a 17.9% operating ROE in 2022, with operating profit attributable to shareholders of the parent company rising 0.3% year on year to RMB148,365 million.
  • Ping An attaches importance to shareholder returns, and the annual cash dividend per share continued to grow 1.7% year on year to RMB2.42.

Ping An reports RMB148,365 million of operating profit attributable to shareholders of the parent company in 2022, annual cash dividend per share grows by 1.7% year on year

Retrieved on: 
Wednesday, March 15, 2023

HONG KONG and SHANGHAI, March 15, 2023 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An of China," "Ping An," or the "Group," HKEX: 2318; SSE: 601318) today announced its financial results for the year ended December 31, 2022.

Key Points: 
  • Ping An achieved a 17.9% operating ROE, with operating profit attributable to shareholders of the parent company rising 0.3% year on year to RMB148,365 million in 2022.
  • Net profit and net profit attributable to shareholders of the parent company amounted to RMB107,432 million and RMB83,774 million respectively.
  • Ping An achieved a 17.9% operating ROE in 2022, with operating profit attributable to shareholders of the parent company rising 0.3% year on year to RMB148,365 million.
  • Ping An attaches importance to shareholder returns, and the annual cash dividend per share continued to grow 1.7% year on year to RMB2.42.

Pianist/Composer Yelena Eckemoff Presses Forward with Her Bold, Conceptual Vision of Jazz on "Lonely Man and His Fish," Due April 28

Retrieved on: 
Saturday, March 11, 2023

RICHMOND, Calif., March 11, 2023 /PRNewswire-PRWeb/ -- Pianist-composer Yelena Eckemoff's body of elaborate, ambitious jazz concept albums reaches a new virtuosic summit with "Lonely Man and His Fish," to be released April 28 on her own L&H Production label. A double-CD set, the album is also a long-form parable, a story of deep affection between a human and his beloved pet. An all-star lineup—cornetist Kirk Knuffke, flutist Masaru Koga, bassist Ben Street, and drummer Eric Harland—helps Eckemoff breathe life into the tale.

Key Points: 
  • A double-CD set, the album is also a long-form parable, a story of deep affection between a human and his beloved pet.
  • An all-star lineup—cornetist Kirk Knuffke, flutist Masaru Koga, bassist Ben Street, and drummer Eric Harland—helps Eckemoff breathe life into the tale.
  • Eckemoff, who is an artist and poet as well as a pianist and composer, typically creates imagery and text to augment her programmatic music.
  • Her unique, sophisticated, and highly expressive music continues to draw support and creative energy from the finest musicians in the world.

2022 Annual Results: SCOR ends 2022 with a net income of EUR 208 million in Q4 and proposes a dividend of EUR 1.40 per share

Retrieved on: 
Thursday, March 2, 2023

SCOR ends 2022 with an accounting loss of EUR 301 million, which has been significantly reduced by the strong results in the fourth quarter.

Key Points: 
  • SCOR ends 2022 with an accounting loss of EUR 301 million, which has been significantly reduced by the strong results in the fourth quarter.
  • In Q4 2022, the Group generates a net income of EUR 208 million (equivalent to an annualized RoE of 16.8%), with each of the three business units delivering a positive result.
  • This net loss is reduced compared to Q3 2022 thanks to the Group’s strong performance and net income of EUR 208 million in Q4 2022.
  • SCOR therefore proposes a dividend of EUR 1.40 per share for the fiscal year 2022.