Scor: premiums solid in Q1
(CercleFinance.com) - The reinsurer SCOR recorded Q1 2019 gross written premiums that are up 5.
7%, reaching nearly four billion euros.
At constant exchange rates, growth reached 2%, including +12.8% for the P&C division after a successful contract renewal campaign, although were down 5% at Scor's Life division.
The group said that this decrease is mainly due to the renewal of certain Financial Solutions contracts as contracts booked as commissions (rather than as premiums) in Q1 2019.
As a key element for profitability, over one year the group's cost ratio has fallen from 5% to 4.9%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
7%, reaching nearly four billion euros.
At constant exchange rates, growth reached 2%, including +12.8% for the P&C division after a successful contract renewal campaign, although were down 5% at Scor's Life division.
The group said that this decrease is mainly due to the renewal of certain Financial Solutions contracts as contracts booked as commissions (rather than as premiums) in Q1 2019.
As a key element for profitability, over one year the group's cost ratio has fallen from 5% to 4.9%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.