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SCOR hits expansion goal with 42% net income jump.
(From Lloyds List)
STRONG growth in property and casualty and liability reinsurance helped the French SCOR group to a 42% increase in net income to €102m ($120m) in the first half, writes Andrew Spurrier in Paris.
It singled out treaties and large corporate accounts for particular mention, indicating that they had shown revenue increases of 26% and 24% respectively, contributing to a 16% rise to € 1.37bn in gross written premiums overall.
Non-life reinsurance premium income climbed 28% to €844m as SCOR registered successive increases in written premiums in the course of regional treaty renewal programmes.
European written premiums for January 1 were up 25%. Asian and Indian written premiums climbed 23%, while mainly Middle Eastern written premiums for July 1 rose 21%.
Combined ratio for non-life reinsurance business improved from 99.7% to 98.2% but the ...
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