French reinsurer SCOR reported net income of EUR 140 million in Q1 2017 vs. EUR 170 million a year before, while the value of GWP totaled EUR 3.74 billion, up by 13.9% y-o-y.

"Excluding the Ogden rate and reserve release impacts, the net income would stand at EUR 197 million (+15.9% compared to Q1 2016) and the ROE would stand at 12.2%, demonstrating the strong core earnings of the Group", as the Paris-based reinsurer pointed out in a press release.

In the first quarter of 2017, SCOR Global P&C GWP stand at EUR 1.56 billion, up by 13.2% y-o-y, while SCOR Global Life reported GWP of EUR 2.18 billion (up by 14.4% y-o-y).

The Group cost ratio decreases to 5.1% of premiums in Q1 2017 vs. 5.3% in Q1 2016, while the SCOR Global P&C combined ratio increased to 94.5% vs. 89.7% a year before.