SCOR maintains its annual targets despite natural catastrophes

SCOR’s half-yearly results reported a net income of 189 million EUR (246 million USD) on June 30, 2013, down by 8.3% compared to the same period in 2012. This decline is due to the natural catastrophes that have affected the French reinsurer mainly in the second quarter.

The most costly events pertain to tornadoes in the United States and floods in Central Europe, Germany and Canada. Gross premiums written in the first half of 2013 amounted to 4.98 billion EUR (6.48 billion USD) compared to 4.64 billion EUR (5.83 billion USD) for the first six months of 2012.

These figures do not include the takeover of Generali’s life operations in the United States. In non-life insurance, the combined ratio reached 94.3% at the end of June 2013. The Group maintains its objective of 10 billion EUR (13 billion USD) of premiums for the ongoing year.