(News Bulletin 247) – The Scor share is among the strongest increases in the SBF 120 on Friday on the Paris Stock Exchange, supported by a point of activity on the latest renewals dated April.
Around 10:30 a.m., the title of the reinsurer rose by 2.2% while the SBF 120 was unchanged and the STOXX index of the insurance sector in Europe gained 1%.
In a press release, the group explains that it is continuing to improve the technical profitability of its damage and liability risk portfolio in a market context deemed “favourable”.
In property and casualty (P&C) reinsurance, Scor posted 17% growth in gross written premiums when renewing its contracts in April.
Its expected technical profitability and the return/risk profile of its property and casualty risk portfolio also improved on April 1, with an average rate increase of 7%.
Like last January’s renewals, April’s P&C reinsurance renewals are part of a favorable market context for reinsurers, both in terms of rates and terms and conditions, specifies the reinsurer.
Scor, which will publish its first quarter results on May 12, has seen its market capitalization gain around 8% since the start of the year, which currently stands at around 4.2 billion euros.
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