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Scor S.E. reported profits of €111 million ($144.2 million) for the first quarter of 2013, a 6.7% increase over the same period last year.
The Paris-based reinsurer said Wednesday that its first-quarter results reflected low catastrophe losses during the period.
Scor's gross written premiums edged up to €2.38 billion ($3.09 billion), a 2.1% increase over the 2012 first quarter.
Scor said its net investment income fell 16.5% compared with the same period last year to €112 million ($145.5 million).
The reinsurer's combined ratio improved to 90.4% in the first quarter of 2013, compared with 92.5% in last year's the first quarter.
The company said at April 1 renewals, which represent about 10% of its annual volume of treaty premiums, its premium volume grew about 6%.
Overall, the company said, rates have remained flat “with a few pockets of meaningful rate increases, notably in the marine industry, as well as in the U.S. commercial and industrial market.”
Also on Wednesday, Scor announced that Mark Kociancic, currently deputy group chief financial officer, would succeed Paolo De Martin as CFO of the company effective immediately.
Mr. de Martin will take a sabbatical until January 2014, when he will rejoin SCOR in a management role, the company said in a statement. The company did not give further details.
French reinsurer Scor S.E. has reported a 1.9% increase in rates during the January renewals.