By the end of March 2020, SCOR group [4]’s turnover rose by 4.3% to reach 4.158 billion EUR (4.579 billion USD) compared to 2019’s first quarter.
During the same period, SCOR Global P&C recorded a 4.8% increase in premiums. The non-life division demonstrates a solid underwriting profitability with a net combined ratio of 94.5%, meeting the Quantum Leap plan forecasts.
The turnover of SCOR Global Life, increased by 1.7% compared to the first quarter of 2019. Thanks to a solid management strategy, the SCOR Global Investments division recorded a return on assets of 3.1%.
During the first quarter of 2020, the Group's net income totalled 162 million EUR (179.124 million USD), an increase of 23.7% compared to the same period in 2019. The Return on Equity (ROE) stood at 10.7%, exceeding the profitability objective stated in the Quantum Leap project.
The Shareholder's equity amounted to 6.268 billion EUR (6.930 billion USD). The solvency ratio established at 210%, ranges from 185 to 220% just as set by Quantum Leap.