French reinsurer Scor S.E. (SCR.FR) Tuesday said that in the second quarter it will book EUR10 million to EUR15 million in additional pre-tax natural catastrophe losses because of claims stemming from the first quarter.

MAIN FACTS:

- The extra losses mean Scor will draw EUR75 million on a contingent capital facility to strengthen its equity capital.

- The contingent capital facility was made available to Scor January 1 by Swiss Bank UBS (UBS).

- UBS is required to exercise the number of warrants required for the issuance and subscription by it of new Scor shares in an aggregate amount of EUR75 million.

- Scor said no further deterioration of the first quarter natural catastrophe events on a gross basis is expected to materially affect its net accounts.

- By Paris Bureau, Dow Jones Newswires; +331-4017-1740; william.horobin@dowjones.com

Scor (PK) (USOTC:SCRYY)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024 Click aqui para mais gráficos Scor (PK).
Scor (PK) (USOTC:SCRYY)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024 Click aqui para mais gráficos Scor (PK).