Paris-based SCOR reported 25 percent growth in premium income linked to non-life and credit and surety reinsurance treaties that were up for renewal on Jan.1, 2006, although the U.S. market remains troublesome for the carrier.
The company said these Jan. 1 renewals relate to around 80 percent of the company's worldwide non-life and credit and surety reinsurance treaties. European treaties and credit and surety contracts are almost entirely renewing on Jan.1, 2006, the company noted.
SCOR reported that in a competitive environment it has been able to improve its positioning, with satisfactory pricing conditions in all markets–excluding the United States.
The SCOR Group said 15 percent of its Jan. 1 business involved newly won or regained clients, along with the establishment of many lead underwriting positions.
Increases in premium income of over 20 percent in France, Germany, Canada, the Middle East and Asia (excluding Japan) and over 40 percent in the United Kingdom, Spain and Portugal are in line with the Group's underwriting plan and its strategic orientations.
In life reinsurance, SCOR said premium volume has increased by 5 percent for business up for Jan. 1, 2006 renewal, representing around 50 percent of the SCOR's portfolio in the line.
The SCOR Group said it will be publishing a full summary of the Jan. 1, 2006 renewals on Feb. 28.
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