French insurer SCOR has reported pre-tax profits of €113m for the nine months to September, compared to a loss of €214m for the equivalent period in 2003.
The result was achieved on the back of €2bn of gross written premiums, down 35% on last year, due to a reduction in premiums issued by the large corporate accounts division. The overall turnaround was put down to “steady improvement in the technical quality of the group's underwriting.”
