Nonlife reinsurance rates for June, July renewals rise an average 2%: SCOR

PARIS—SCOR S.E. said Monday that average rates for nonlife reinsurance business that it renewed in June and July increased slightly more than 2%.

In a statement, the Paris-based reinsurer said rates for U.S. catastrophe-exposed property business increased 10% to 15% for June renewals and 5% to 10% for July renewals.

SCOR said the June and July renewals represent about 10% of its total annual treaty premium.

For property/casualty treaty business, SCOR said its overall premium volume grew 14.8%, driven largely by a 23% increase in Asia.

For specialty lines, SCOR said its premium volume grew 35% at the June and July renewals.