SCOR Q1 Profit Down, Despite Higher Insurance Revenue, Premiums

(RTTNews) - SCOR SE (SZCRF.PK), a French reinsurance company, reported Friday that its first-quarter Group net income fell 36.8 percent to 196 million euros from last year's 311 million euros.

Adjusted Group net income was 176 million euros in the quarter.

Insurance revenue, however, grew 4.8 percent to 4.11 billion euros from last year's 3.93 billion euros. Insurance revenue increased 6 percent at at constant exchange rates.

Gross written premiums increased 4.4 percent to 4.95 billion euros from 4.74 billion euros a year ago.

In the first quarter, P&C insurance revenue grew 2.6 percent from last year to 1.84 billion euros, and L&H insurance revenue went up 6.6 percent to 2.28 billion euros.

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