Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. France
  4. Euronext Paris
  5. Scor SE
  6. News
  7. Summary
    SCR   FR0010411983


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Scor : CORRECTED (OFFICIAL)-Motor insurer Marshmallow becomes one of first Black-founded UK unicorns

09/07/2021 | 07:00pm EDT
Imported cars are parked in a storage area at Sheerness port, Sheerness

LONDON, Sept 8 (Reuters) - Digital motor insurer Marshmallow has raised $85 million from investors, valuing it at more than $1.25 billion and making it one of the first British Black-founded unicorns, the company said on Wednesday.

The early-stage funding round was backed by venture capital firm Passion Capital, Investec Bank and reinsurer SCOR, Marshmallow said in a statement.

The tech-focused insurer will use the funding to expand into overseas markets and into other types of insurance beyond the motor segment, Chief Executive Oliver Kent-Braham told Reuters.

"We're looking across to Europe now, that's a huge market to go after. In the UK, we are looking at other personal lines."

Insurtech, a fast-growing segment of the financial technology, or fintech, industry, has benefited from investor interest in startups, with the traditional insurance industry considered slow to change and to adopt technology.

Global insurtech funding exploded to $7.4 billion in the first half, making 2021 a record funding year already by July, according to a report from insurance broker Willis Towers Watson.

Motor insurers have benefited from the coronavirus pandemic, as fewer cars on the roads due to government lockdowns have led to fewer claims.

Marshmallow was founded in 2017 by Kent-Braham, his twin brother Alexander Kent-Braham and David Goate.

It has expanded its staff by more than 200% in the past year to around 170 people, and also plans to use its funding to hire 400 more over the next two years.

Insurance and technology are both sectors often lacking in diversity, but Kent-Braham said the firm was close to 50:50 in terms of its male-female split, including female software engineers. Nearly 20% of employees were Black or from other ethnic minorities.

Marshmallow underwrites its own insurance, and is facing legal action from its former underwriter Mulsanne. Kent-Braham said the case was ongoing, but that Marshmallow strongly refutes all the allegations.

The company's Series B funding round follows a $30 million Series A round in Nov 2020, which valued the company at $310 million. Passion Capital, Investec and SCOR are all existing investors in Marshmallow. (Reporting by Carolyn Cohn; Editing by Jan Harvey)

ę Reuters 2021
All news about SCOR SE
10/27SCOR Launches $232 Million Share Repurchase Program
10/27Reinsurer Scor launches share buyback as floods and hurricane hit Q3 earnings
10/27FIRST NINE MONTHS 2021 RESULTS : SCOR records a net income of EUR 339 million, demonstrati..
10/19SCOR : reinforces its support for the energy transition
10/12COMSCORE : Expands Google Partnership to Measure YouTube, YouTube TV Audiences Across Plat..
09/23SCOR : Adrian Poxon to join SCOR Global P&C
09/17SCOR : 2021 BofAML Conference
09/10SCOR : Launch of 'Heat Stress Protect' insurance to protect dairy income from climate chan..
09/08COMSCORE : to Offer Audience Measurement Service to Fuse Media
09/08GLOBAL MARKETS LIVE : Airbus, Ford, Intel, Apple, PayPal...
More news
Analyst Recommendations on SCOR SE
More recommendations
Sales 2021 17 365 M 20 152 M 20 152 M
Net income 2021 382 M 444 M 444 M
Net Debt 2021 1 462 M 1 697 M 1 697 M
P/E ratio 2021 12,9x
Yield 2021 6,28%
Capitalization 5 193 M 6 018 M 6 026 M
EV / Sales 2021 0,38x
EV / Sales 2022 0,37x
Nbr of Employees 3 034
Free-Float 83,4%
Duration : Period :
Scor SE Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SCOR SE
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 27,91 €
Average target price 30,67 €
Spread / Average Target 9,87%
EPS Revisions
Managers and Directors
Laurent Rousseau Chief Executive officer & Director
Ian Kelly Chief Financial Officer
Denis Kessler Non-Executive Chairman
Kory Beth Sorenson Independent Director
Jane Fields Wicker-Miurin Independent Director
Sector and Competitors
1st jan.Capi. (M$)
SCOR SE5.64%5 365
MUNICH RE5.19%40 860
SWISS RE LTD0.77%26 372
HANNOVER RÜCK SE21.49%22 043
EVEREST RE GROUP, LTD.22.44%11 374