Scor: Satisfactory results despite natural catastrophes
During the first nine months of 2016, SCOR recorded a net result of 438 million EUR (492 million USD), down by 11% compared to the same period in 2015.
This decline is due not only to an interest rate environment extremely low but also to an accumulation of medium-seized climatic events.
During the second quarter of 2016, the Fort McMurray blaze in Canada, the earthquakes that hit Japan, Taiwan and Ecuador, the hailstorms in the Netherlands and the floods in Europe and Louisiana resulted in an increase of the French reinsurer's combined ratio. The latter deteriorated by 2.2 points standing now at 93%.
Despite this configuration, Scor displayed as at September 30, 2016 a turnover of 10.2 billion EUR (11.4 billion USD), up by 4.4% compared to 2015.
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