Strong growth of 55 % in SCOR SE First Half 2007 Turnover to EUR 2 124 Million
SCOR's first half of 2007 results.
For the First Half of 2007, the SCOR Group’s Gross Written Premiums rose to EUR 2 124 Million, an increase of 55% compared to the same period the year before, at current exchange rates. At constant exchange rates, the increase would have been 59% to EUR 2 180 Million:
- Non-Life reinsurance turnover was EUR 943 Million, an increase of 12% compared to the same period the year before, at current exchange rates. At constant exchange rates, the increase would have been 15% to EUR 970 Million.
- Life reinsurance turnover was EUR 1 181 Million, an increase of 124 % compared to the same period the year before at current exchange rates. At constant exchange rates, the increase would have been 129% to EUR 1 210 Million. This increase is explained by two factors: the increase in the base due to the acquisition of Revios (+117%) and endogenous growth (+7%)
In addition, Non Life Treaty renewals at 1 July 2007, which represent approximately 5% of annual turnover, were up 19%, mainly in Asia (up 69%), the Middle East (up 30%) and the United States (up 19%).
- Insofar as Revios is concerned the numbers given herewith do not include any premiums for 2006. For 2007 the premiums are those of SCOR Global Life, the subsidiary henceforth combining the businesses of SCOR Vie and Revios.
- Insofar as Converium is concerned the numbers herewith relating to the First Half 2007 do not take into account the acquisition of Converium finalized on 8 August 2007
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