On June 6, the Association of French reinsurers (ARF) and the French Federation of the insurance companies (FFSA) announced that, after the losses registered in the year 2001 (- 575,9 million Euros), the reinsurance market is still in the red for the second consecutive year (- 368,6 million loss). SCOR, number 1 French and 6th-ranking world reinsurer, burdens the sector with a net loss of -455 million Euros.
Despite these results, the French market improved its market shares in 2002. The collection of premiums of the French reinsurers reached 11 billion Euros in a market estimated at 150 billion Euros.
The world reinsurance volume has decreased by 150 billion Euros since the year 2000.