DAILY NEWS Feb 11, 2013 2:11 PM - 0 comments

SCOR Global reports strong renewals

TEXT SIZE bigger text smaller text
2013-02-11

SCOR Global P&C has recorded strong renewals for the beginning of the year, with a 9% increase in gross written premiums, and an expected 1.3% improvement in technical profitability for total contracts renewed.

Financial

The company is also expecting a price rise of 1.9% net of general inflation.  

2.3 billion euros of premiums were up for renewal in January, about half of its total premiums.

“This proportion is particularly significant for Non-Life treaty business (71%), and represents more than half of specialty treaty business (55%),” the company noted.

For Non-Life Treaties, premiums increase by 9% to 1.890 billion euros, and for Specialty Treaties, gross written premiums increase by 9% to 617 million euros, driven by a good performance in the Marine branch, SCOR said.

“SCOR Global P&C is achieving good renewals in a challenging environment,” the company’s CEO Victor Peignet commented in a statement.

“The Group continues to benefit from a positive commercial and financial dynamic, and we are approaching the preparation of our new strategic plan with a business franchise that is strong both in terms of the most sophisticated markets and clients and in emerging markets.”

Monitor These Topics


Horizontal ruler

Disclaimer
Note: By submitting your comments you acknowledge that Canadian Underwriter has the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever. Please note that due to the volume of e-mails we receive, not all comments will be published and those that are published will not be edited. However, all will be carefully read, considered and appreciated.

comments powered by Disqus