SCOR, 3Q2012: Net income up 40%

20 November 2012 — Vlad BOLDIJAR
scor_120French reinsurer SCOR reported net income of EUR 318 million during the first nine months of 2012, representing a 39.5% increase compared with the same period a year earlier. Gross written premiums increased 13% to EUR 7.21 billion over the same period, helped by a strong property & casualty reinsurance business.

"The excellent results recorded by the Group for the first nine months of 2012 once again demonstrate the pertinence and robustness of its business model, in spite of a global economic environment that remains at half-mast. SCOR is actively preparing its next renewal campaign in January, being well positioned to continue to progress thanks notably to its series of rating upgrades in 2012", commented Denis KESSLER, Chairman and CEO of SCOR.

For property & casualty operations (SCOR Global P&C), the company reported an 18% rise over the value of the first nine months of 2011 to EUR 3.52 billion, while the combined ratio was 93.7%.

At the same time, life insurance division "continues its positive momentum": In the first nine months of 2012, SCOR Global Life gross written premiums reached EUR 3.69 billion, compared to EUR 3.42 billion over the same period in 2011, representing an increase of 8.0%.

Read the full release here.

1754 views
Share |