SCOR: strong performance in the first half of 2019

The SCOR Group has published its financial statements for the first half of 2019. The reinsurer reported gross written premiums of 8 010 million EUR (9 105 million USD), up by 6.3% compared to the same period of 2018.

SCOR Global P&C recorded a growth of 13.9% which is accounted for mainly by the rate increase and the very favorable 2019 renewal conditions. The P&C division had a net combined ratio of 93.7%, better than the 95-96% "Vision in Action" assumption.

For its part, SCOR Global Life, reported an increase of 1.2% in premiums and continued its business growth in North America and Asia.

The group's net result improved by 9.2% at 286 million EUR (325 million USD). The ROE was of 9.8%.

SAccording to Denis Kessler, Chairman and CEO of SCOR, the reinsurer "delivered a strong performance in the first six months of 2019", exceeding thus the profitability target set by its sixth "Vision in Action" plan, which covers the period mid-2016 to mid-2019.

SCOR's seventh strategic plan will be presented in early September 2019.

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