SCOR delivers on Vision in Action plan in 2016

In 2016, SCOR set out its Vision in Action strategic plan, which it delivered on by recording a net income of $638 million and increasing its dividend to $1.75.

The company’s gross written premiums were up 5.3% in 2016 to $14,638.28, with SCOR Global Life’s gross written premiums at $8,667.99 and SCOR Global P&C gross written premiums at $5,970.29. The Vision in Action changed business mix, which led to SCOR Global Life’s 2016 technical margin at 7.0%

“In 2016, SCOR delivers a strong set of results, in line with the profitability and solvency targets of its new plan Vision in Action,” Denis Kessler, SCOR’s chairman and CEO, said in a press release. “SCOR has also enhanced its franchise, notably with the expansion of its Life footprint in Asia and the gain of additional market shares on the P&C side in the United States. In the meantime, the Group is pursuing innovative initiatives and developing new tools to improve its underwriting and management. SCOR is well on track to reach its strategic targets for Vision in Action. SCOR is actively pursuing its shareholder remuneration policy, raising its dividend to EUR 1.65, and now envisages share buy-backs.”

This year, SCOR plans to look to its high level of diversification and benefit from a possible interest rate increase.