- Premium income in line with Group company forecasts at the beginning of 2004.
- Gross written premiums in Life & Accident Reinsurance down 17%.
- Gross written premiums in Non-Life Reinsurance down 41%.
- Continued geographic rebalancing of business: 54% in Europe, 25% in North America; 9% in Asia Pacific; 12% in the rest of the world.
- The quota-share between SCOR and IRP has not been renewed in 2005.
The SCOR group’s gross written premiums for the 2004 financial year amounted to EUR 2,578 million at constant exchange rates, down 30.2% compared to 2003.
At current exchange rates, gross written premiums by the SCOR group amounted to EUR 2,528 million, down 31.5% compared to 2003.
This decline in premium income is notably due to the reduction indicated in lines written in the Large Corporate Risks sector, itself a function of rigorous business selection and SCOR’s rating in 2004.
The contraction in Life & Accident Reinsurance premium income is mainly due to the fact that there was an exceptional transaction in the first quarter of 2003.