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March 14, 2022updated 23 Mar 2022 11:32am

France’s SCOR postpones investor day amid Ukraine crisis

Understand the impact of the Ukraine conflict from a cross-sector perspective with the Global Data Executive Briefing: Ukraine Conflict

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Global reinsurance firm SCOR has decided to postpone its investor day, initially scheduled for 29 March 2022, citing the fallout from Russia’s invasion of Ukraine.

“In light of the geopolitical situation and the humanitarian and global impacts of the war in Ukraine, SCOR has decided to postpone its investor day,” the French reinsurer’s statement read.

Last month, Russian President Vladimir Putin recognised the independence of Donetsk and Luhansk in eastern Ukraine. This was followed by the launch of Ukraine’s invasion by land, sea, and air.

In response to Russia’s military aggression, the US and its allies have imposed severe sanctions targeting the Russian economy.

SCOR said it is keeping a close watch on the situation, which has wide macro-economic repercussions on areas including economic growth, interest rate, inflation, and energy prices.

With operations in 160 countries across the globe, SCOR plans to organise the investor day by the end of July 2022 and will announce a date when the situation becomes clearer.

SCOR also noted that its overall exposure to Russia and Ukraine is ‘limited’. Therefore, the firm expects the direct consequences of the conflict to be limited, which will not affect its fundamentals.

The reinsurer, which generated €17.5bn in premiums in 2021, stated that it will go ahead with its strategic plan “Quantum Leap”.

Last week, Marsh McLennan announced plans to shutter all its Russian operations by transferring the ownership to local management who will operate independently in the country.

Aon too decided to suspend its operations in Russia.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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