Scor's '02 Loss Larger Than Expected
NU Online News Service, April 1, 3:48 p.m. EST?French reinsurance giant Scor reported a wider-than-expected loss for 2002 as it increased reserves by more than U.S. $55 million to cover unprofitable policies it had underwritten in the late 1990s.
The Paris-headquartered reinsurer reported a full-year loss of 455 million euros ($494.6 million), which is bigger than the 278-million-euro loss ($302.2 million) from its previous year as well as the company's earlier loss estimate announced last November.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
