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French reinsurer Scor posts 35 pct increase in H1 profit
July 31, 2014 / 5:36 AM / in 3 years

French reinsurer Scor posts 35 pct increase in H1 profit

PARIS, July 31 (Reuters) - French reinsurer Scor posted on Thursday a 35.4 percent increase in first-half net profit as its property and casualty business benefited from a low level of major catastrophes.

The company said net profit reached 256 million euros (342.9 million US dollars) in the first half as gross written premiums rose 12.5 percent at constant exchange rates to 5.427 billion euros.

Scor saw “healthy” renewals of property and casualty contracts while its global life unit won important new business, it said in a statement. Premiums were also boosted by the purchase of Generali US Life Re last year. (1 US dollar = 0.7465 euro) (Reporting by Leigh Thomas; Editing by James Regan)

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