SCOR [4] Global P&C benefits from significantly improved market conditions as of 1 January 2021. The premiums renewed at that date reached 3.445 billion EUR (4.17 billion USD), a 15.9% increase compared to 2020.
The French reinsurer expects an on-going rate increase as well as improved treaty terms and conditions by the next renewals in April and July 2021.
Renewed portfolio as of 1 January 2021
| Renewed premiums | Change from January 2020 | Main growth drivers | |
|---|---|---|---|
Treaty P&C Lines1 | 2.471 billion EUR (2.996 milliards USD) +12.2 % | +12.2 % | Europe, Strongly growing markets |
Treaty Global Lines2 | 973 billion EUR (1.179 milliards USD) | +26.4 % | Agriculture, credit and suretyship |
Total | 3.445 billion EUR (4.17 milliards USD) | +15.9 % |
1 includes property&casualty, disasters, third party liability, motor and other related classes of business (personal insurance, nuclear, terrorism, special risks, extended motor coverage and retrocession).
2 includes the agriculture, aviation, credit and suretyship, decennial liability insurance [5], Engineering, marine and energy, space, and cyber-risk classes of business.
Read also | Strength of the reinsurance market in 2020 [6]