SCOR Global reports strong renewals

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.

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.”