Fundamentals snapshot
SCRYY · PNK · Financial Services · Insurance - Reinsurance
Current price
$3.86
52-week range
$2.95 - $4.17
Market cap
$6.90B
One-glance verdict
We don't put a cash-flow fair value on banks and insurers. For these companies the reported 'cash flow' is really just money moving between loans, deposits and trades — not the leftover profit the owners could actually pocket — so the usual method would print a misleading number.
Balance sheet
Net cash $297.54M. Interest coverage shows how many times profit covers the interest bill.
What stands out
What this company does
SCOR is essentially an "insurance company for insurance companies," a business known as reinsurance. It collects payments from other insurance firms to help them cover the massive costs from large-scale events like natural disasters or unexpected health trends. SCOR's business is profitable when it accurately predicts these risks, allowing it to take in more money in payments than it has to pay out for damages.
SCOR SE was founded in 1970 by the French government to create a national reinsurance champion. Originally named Société Commerciale de Réassurance, the company has grown from its government-backed origins into one of the world's largest reinsurers. Key moments include listing on the Paris Stock Exchange in 1990, a series of major acquisitions starting in the mid-1990s to expand its global footprint, and a significant turnaround after a near-collapse in the early 2000s. This period of strategic acquisitions, including companies like Allstate's reinsurance business, Revios, and Converium, fundamentally shaped the global company it is today.
Think of SCOR as an insurance company for other insurance companies. When you buy an insurance policy for your car or home, that insurance company takes on the risk that you'll have an accident or a fire. SCOR steps in to take on a portion of that risk from the original insurer, which is a process called reinsurance. This allows the primary insurance companies to protect themselves from massive losses, especially from large-scale disasters like hurricanes or earthquakes, and enables them to sell more policies to people and businesses. In exchange for taking on this risk, SCOR receives a part of the insurance premiums (the regular payments customers make to their insurer).
This is SCOR's largest business segment, where P&C stands for Property and Casualty. It provides reinsurance for a wide range of non-life events. This includes covering other insurance companies for losses related to property damage from fires or natural disasters, car accidents, and liability claims if a person or business is sued. It also covers more specialized areas like aviation, marine, engineering, and agriculture. Essentially, if an insurance company has to pay out a large number of claims for things like storm damage or construction defects, this division of SCOR helps cover those costs.
This segment focuses on Life and Health reinsurance, making up the other major part of the company's business. It helps other insurers manage the financial risks associated with life and health policies. This includes risks like people living longer than expected, which affects pension funds and annuity providers (a concept called longevity risk), or higher-than-expected claims for illnesses, disabilities, or death. By reinsuring these policies, SCOR provides financial stability to the life and health insurance companies that people rely on.
This part of the company manages the large pool of money, known as assets, that SCOR collects from the premiums paid by its insurance company clients. Instead of just sitting on this cash, the investments team puts it to work in things like bonds, stocks, and real estate to earn a return. This investment income is a crucial source of profit for the company, alongside the money it makes from its reinsurance operations. A portion of this business also involves managing assets for third-party clients through its subsidiary, SCOR Investment Partners.
Under its strategic plan called "Forward 2026," SCOR is focused on taking advantage of what it sees as very favorable market conditions for reinsurers. The company aims to grow its Property & Casualty and Life & Health businesses in a balanced way, focusing on the most profitable opportunities. A key priority is leveraging technology and data analytics to better understand and manage complex modern risks like climate change and cyber-attacks. The company is also heavily committed to sustainability, aiming to increase its coverage for low-carbon energy projects and making its own operations and investments more environmentally friendly.
Price history
Is it cheap or expensive?
For a bank or insurer, the "free cash flow" shown on its statements is mostly money flowing through loans, deposits and trades — not the leftover profit the owners could actually keep, which is what this kind of valuation needs. Running that through the usual method would spit out a meaningless number, so we leave the cash-flow fair value out here rather than show you something misleading.
Is it drowning in debt?
Net cash $297.5M - more cash than debt. Interest coverage 10.9x.
SCOR SE's profit covers its interest bill about 10.9 times over.
Total debt $3.83B Interest coverage 10.86x This is the baseline the peer rows are being compared against.
Total debt $3.59B Interest coverage 13.50x +24% vs SCRYY Carries about 1.2x more debt cushion than SCRYY.
Total debt $2.34B Interest coverage 34.21x +215% vs SCRYY Carries about 3.2x more debt cushion than SCRYY.
Total debt $4.29B Interest coverage 34.64x +219% vs SCRYY Carries about 3.2x more debt cushion than SCRYY.
Total debt $5.71B Interest coverage 5.21x -52% vs SCRYY Carries about 2.1x less debt cushion than SCRYY.
Total debt $1.49B Interest coverage 19.24x +77% vs SCRYY Carries about 1.8x more debt cushion than SCRYY.
What you should know
The numbers
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What you should know