Scor Reinsurance reports 10% increase in global premium income

Scor records an increase of around 10% in worldwide premium income for non-life reinsurance renewed at 1 January 2007, according to a press release.
Property and casualty reinsurance renewals at 1 January 2007 were conducted in full accordance with the underwriting plan set in June 2006 and adhered to the underwriting rules and profitability criteria fixed by the Scor. Scor global property and casualty underwriting plan was drawn up market by market and branch by branch, in order to achieve optimal capital allocation. The plan was then adjusted in accordance with market tendencies, loss experience and the evolving needs of cedants. It should be noted that major claims activity in 2006 was limited.
Underwriting during this 2007 campaign was conducted with the help of the Matrix model, which ensures a pricing level that respects the return on the capital involved, in accordance with the Scor’s objectives.
The market environment has been marked by satisfactory conditions of cover and pricing.
On the whole the renewals proceeded in accordance with the Group’s expectations, as set out in the underwriting plan.
According to the press release, the January 2007 renewals campaign together with the positive outlook on the business environment for the rest of the year, lead Scor to anticipate total gross written premium in line with the underwriting plan in the EUR 1.9 to 1.95 billion range for its non-life operations in 2007.