Reinsurer SCOR Reports 37% Drop in Q2 Net Profit on U.S. Tax Reform
Excluding the 62 million euro charge linked to the U.S. tax reforms, Scor’s net profit in the second quarter was 158 million euros, 3.3 percent higher than during the same period last year.
The company said return on equity during the first half of the year was 8.8 percent and 10.9 percent, excluding the impact of the U.S. tax reform.
SCOR’s estimated solvency ratio was 221 percent as of June 30, the company said.
($1 = 0.8527 euros) (Reporting by Inti Landauro; editing by Sudip Kar-Gupta)
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