SCOR, Q1: Net income falls slightly to EUR 170 million

28 April 2016 — Vlad BOLDIJAR
The Paris-based reinsurer SCOR reported a 2.9% y-o-y decrease in its Q1 net income to EUR 170 million, while the value of gross written premiums was up by 5.1% y-o-y to EUR 3.28 billion.

By divisions, for its property & casualty operations, the company reported a 1.6% decrease in GWP to EUR 1.37 billion, the negative dynamic being "affected by the cancellation of the division's participation in a Lloyd's syndicate as well as by lower activity on the Aviation book of business", as the reinsurer pointed out in a statement.

On the other hand, "SCOR Global P&C records very strong technical profitability with a net combined ratio of 89.7% in the first quarter of 2016, in an environment of low natural catastrophe losses".

SCOR Global Life posted gross written premiums of EUR 1.90 billion, or 10.5% more y-o-y, while the technical margin reached 7.1%, compared with 7.2% for the same period in 2015.

Shareholders' equity stands at EUR 6,358 million at 31 March 2016, compared to EUR 6,363 million at 31 December 2015. "This translates into a book value per share of EUR 34.13 at 31 March 2016, compared to EUR 34.03 at 31 December 2015".

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