Scor puts brave face on renewals reductions
Scor has suffered falls in both non-life and life renewals as a result of the “difficult context” which saw the necessity of a capital increase and the fall in the group’s rating during 2003. Property & Casualty, large corporate accounts and credit and surety reduced by 29% in expected gross premium income compared with the premiums last year, while life reinsurance fell by 11 %.
However despite the difficulty of the rating and capital issues as well as the suspension of SCOR from major broker’s security lists, chairman and CEO Dennis Kessler says: “the 2004 renewalsOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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