SCOR sees gross premium increase at renewalPosted On: Feb. 12, 2007 12:00 AM CST
PARISSCOR S.A. said that gross written premiums of renewal business increased by about 10% at January 1, compared with the previous year.
Paris-based SCOR said that despite a competitive environment in reinsurance, terms and conditions "were nevertheless kept at satisfactory levels."
SCOR said in a statement that trends noted at the January 1 renewal included increased cedent retentions, a shift towards non-proportional cover and a move towards more centralized reinsurance buying.
SCOR noted that for property and casualty business outside the United States, rate decreases typically were "moderate" and less than 10%.