SCOR SE (SZCRF.PK), a renowned French reinsurance firm, disclosed on Friday that its Group net income for the first quarter saw a significant decline of 36.8%, dropping to €196 million from the previous year's figure of €311 million.
The adjusted Group net income for the period stood at €176 million.
Despite the drop in net income, insurance revenue experienced a 4.8% increase, rising to €4.11 billion from last year's €3.93 billion. When adjusted for constant exchange rates, this revenue boost was 6%.
Gross written premiums also marked an upward trend, increasing by 4.4% to total €4.95 billion, up from €4.74 billion the previous year.
Specifically, in the first quarter, Property and Casualty (P&C) insurance revenue grew by 2.6%, reaching €1.84 billion. Meanwhile, Life and Health (L&H) insurance revenue ascended by 6.6% to €2.28 billion.
