The reinsurer Scor French recorded a 8.5% increase in the amount of premiums up for renewal on April 1. These relate to 318M euros, or about 10% of P & C premiums
April 1 renewals allow Scor Global P & C 8.5% gain in gross written premiums. Renewals in property and liability account for 10 % of the portfolio of Scor , and are mainly on the United States, Japan and India. The latter two markets, Scor announcement ” a significant premium growth , coupled with an early overall profitability in line with objectives .”
However, there are disparities between areas. Thus, Japan and India are two very different paths. Japan begins to digest the impact of disasters in 2011 and ” non-proportional in Cat damage rates have returned to pre- Tohoku (2011) levels,” said the statement the group. While India is experiencing a revival with a sharp rise in processed agricultural specialties and credit risks that open . This is also the case in the Chinese market , according to Scor .
In the lines of ” Optimal Dynamics ”
Question profitability , the reinsurer is based on the rate increases to increases in direct insurers. 72 % of renewed being proportional reinsurance portfolio , the effect of increase is mechanical. “Thus, a slight increase in rates proportional reinsurance (+0.3%) partially offset the 8.3% decline rate in non-proportional reinsurance , including Cat damage ,” explains the press release.
With these renewals, Scor be announced in the lines of his plan “Optimal Dynamics ” . The next renewal will take place in July and concern specifically North American markets. Finally, Scor will hold its general meeting on May 6 .