French reinsurance company Scor has seen a 10% increase over the previous year in its non-life renewal sales, reported Reuters, and added that the market conditions have remained favorable.
Sales rose to almost E1.2 billion, as of January 1, 2007, from just over E1 billion a year earlier.
According to Reuters, Scor said it had recovered the majority of its share of business that had been lost between 2002 and 2003, as well as benefiting from having its credit rating upgraded to ‘A’ status.
The market environment has been marked by satisfactory conditions of cover and pricing. On the whole the renewals proceeded in accordance with the group’s expectations, as set out in the underwriting plan, Scor said, cited in Reuters.