French reinsurance specialist Scor has reported a net income of E76 million for the first quarter of the fiscal year, representing a 43% increase over the same period the prior year.

The group also posted gross written premiums of E1.04 billion, up 42% compared to Q1 2006, while operating income came in at E127 million, up 27% from the previous year.

In addition, Scor saw a 35% rise in its investment income to E168 million.

The insurance provider also said that it estimates the pre-tax technical cost of storm Kyrill at E28 million for all of the group’s branches and markets concerned.

Looking forward, Scor has a strategic plan covering the period from mid-2007 to mid-2010 which will draw upon its recently acquired Converium for future growth and profitability.