Despite a challenging third quarter marked by natural and industrial disasters, SCOR has made solid performances at the end of September, 2019.
The reinsurer achieved the profitability and solvency objectives set out in its Quantum Leap strategic plan. Gross written premiums amounted to 12.055 million EUR (13.184 million USD). With stable exchange rates, the latter witnessed a 3.2% increase compared to the first nine months of 2018.
While the P&C activity increased by 11.5%, the underwritings of the life class of business recorded a 2.5% decrease. SCOR Global P&C shows a combined net ratio of 95.7%. With 401 million EUR (438.566 million USD), the group’s net income increased by 17.3% compared to the same period of the previous year. The group presents an 8.8% return on equity (ROE), thus exceeding the 2019 profitability target.
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