Daily Digest: Scor shares tumble, Axis CEO on US casualty rates, Melissa insured losses in the billions

Catch up on the essential news and analysis from the Insurance Day experts

Scor shares fall 12% on weak underlying performance Shares in Scor tumbled 12% on Friday after the Paris-based reinsurer reported weak underlying margins despite beating on earnings on the back of lower natural catastrophe losses. Earlier, the reinsurer reported third-quarter net income of €217m, which was nearly 7% higher than analysts’ expectations, according to Jefferies. But the earnings beat was largely driven by the quarter’s low level of natural catastrophes, analysts said.