SCOR closes 2020 with €16.5bn turnover

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The SCOR group closed the 2020 financial year with a turnover totaling 16.368 billion EUR (20.1 billion USD), a 0.16 percent increase compared to the 16.341 billion EUR (18.3 billion USD) recorded in 2019.

SCOR Global P&C reported a 0.18 percent increase in gross written premiums with a total of 7.16 billion EUR (8.794 billion USD). The group’s property and casualty class of business generated a net combined ratio of 100.2 percent in 2020.

The SCOR Global Life entity posted a 0.15% increase in turnover in 2020. Life premiums went from 9.194 billion EUR (10.296 billion USD) as at 31 December 2019 to 9.208 billion EUR (11.309 billion USD) a year later.

The French reinsurer’s net result dropped by 44.5% percent to 234 million EUR (287.409 million USD) against 422 million EUR (472.581 million USD) at the end of 2019. The return on equity (ROE) stands at 3.8%.

The results were significantly impacted by the pandemic which cost the Group an estimated 640 million EUR (786.076 million USD) in 2020. SCOR is proposing a dividend of 1.8 EUR (2.2 USD) per share to shareholders for the financial year 2020

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