"In P&C, we continue to benefit from very attractive market conditions with a combined ratio of 87.1%, and we remain committed to our prudent reserving approach," Scor CEO Thierry Léger said in a statement.
The combined ratio for this business, at 87.1%, benefited from a low natural catastrophe loss ratio of 7.2%, with insurance revenues of 1.84 billion euros, the group said.
Scor also reported an annualized return on equity (RoE) of 17.3% and a solvency ratio up to 215%.
However, net income for the first quarter came to 196 million euros, compared with a consensus figure of 209 million provided by the group.
(Written by Diana Mandiá, edited by Kate Entringer)