February 22, 2018 / 6:52 AM / 2 months ago

BRIEF-Scor FY Gross Written Premiums Up 8.6 pct at 14.79 Billion Euros

Feb 22 (Reuters) - SCOR:

* GROSS WRITTEN PREMIUMS REACH EUR 14,789 MILLION IN 2017, UP 8.6% AT CONSTANT EXCHANGE RATES COMPARED TO 2016

* 2017 GROUP COST RATIO IS STABLE AT 5.0% OF GROSS WRITTEN PREMIUMS

* Q4 P&C GROSS WRITTEN PREMIUMS EUR 1.40‍​ BILLION VERSUS 1.41 BILLION YEAR AGO

* GROUP NET INCOME STANDS AT EUR 286 MILLION IN 2017,

* SCOR’S FINANCIAL LEVERAGE STANDS AT 25.7% AT DECEMBER 31, 2017.

* SCOR’S SOLVENCY RATIO AT DECEMBER 31, 2017, STANDS AT 213%

* Q4 LIFE GROSS WRITTEN PREMIUMS EUR 2.26‍​ BILLION VERSUS EUR 2.21 BILLION YEAR AGO

* 2017 NET COMBINED RATIO ‍​103.7 PERCENT VERSUS 93.1 PERCENT YEAR AGO

* OVER LONG TERM EXPECTS TO BENEFIT FROM LOWER CORPORATE INCOME TAX RATES RECENTLY ENACTED WITHIN US AND FRANCE‍​

* ON US TAX REFORM: ONE-TIME NON-CASH LOSS FOR SCOR AS ITS U.S. DEFERRED TAXES PREVIOUSLY MEASURED AT 35% WERE RE-MEASURED AT 21%

* POTENTIAL BUSINESS STRUCTURES CURRENTLY UNDER CONSIDERATION MAY RESULT IN A DAY ONE, NON-RECURRING, TAX EXPENSE DURING 2018 OF APPROXIMATELY USD 0 TO USD 350 MILLION

* POTENTIAL BUSINESS STRUCTURES CURRENTLY UNDER CONSIDERATION MAY RESULT IN A DECLINE IN SCOR’S 2017 YEAR-END SOLVENCY RATIO,

* 2017 YEAR-END SOLVENCY RATIO IS EXPECTED TO REMAIN ABOVE 200% Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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