Citing the geopolitical situation, humanitarian and global impacts of Russia’s unprovoked invasion of Ukraine, global reinsurer SCOR has decided to postpone its March 29th, 2022, Investor Day.
The reinsurer says that its Investor Day will now take place by the end of July 2022, with a date set to be announced as the situation in Ukraine becomes clearer.
The company is closely monitoring the impacts of Russia’s invasion on its activities and warns that the potential macro-economic consequences are wide-ranging.
Overall, however, SCOR feels that its exposure to the war is limited, noting that the “direct consequences of these events are expected to be limited, and will not impact the Group’s fundamentals.”
Additionally, the firm says that it will comply with all sanctions, and that it is ensuring that all of its employees and their families in the region are safe.
Western nations have imposed some tough economic sanctions on Russia, including measures designed to prevent Russian businesses from accessing international insurance and reinsurance services.