February 20, 2019 / 6:41 AM / a month ago

French reinsurer Scor's 2018 profit soars despite natural disasters

PARIS, Feb 20 (Reuters) - French reinsurer Scor, which was the target of a thwarted acquisition by rival Covea last year, said on Wednesday that its net profit in 2018 soared despite frequent and severe natural disasters in the second half of the year.

The company’s net profit rose 13 percent in 2018 to 322 million euros ($365 million), while gross written premiums rose 3.2 percent to 15.26 billion euros.

Chief Executive Denis Kessler said Scor managed “robust” growth and “solid profitability” during the year.

Scor also proposed a dividend of 1.75 euros per share.

Kessler reiterated Scor intended to remain independent.

$1 = 0.8823 euros Reporting by Inti Landauro; Editing by Sudip Kar-Gupta

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