Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

French reinsurer SCOR's first-half net profit rises

French reinsurer SCOR's first-half net profit rises
FILE PHOTO: The logo of reinsurance company Scor is seen at its Paris headquarters, in Paris, France, February 24, 2016. REUTERS/Charles Platiau -
Copyright
Charles Platiau(Reuters)
Euronews logo
Text size Aa Aa

PARIS (Reuters) – French reinsurer SCOR <SCOR.PA> said its net profit for the first half rose 9.2% from the same period a year ago, helping the company meet financial targets it set three years ago.

SCOR’s net profit in the first half rose to 286 million euros ( £255 million ), while net profit in the second quarter rose 62% to 155 million euros. The company had to book a 62 million euro charge in 2018 related to tax cuts in the U.S.

SCOR said it had met its profitability target set in its strategic plan three year ago, “despite significant industry, regulatory and geopolitical headwinds over the period.

The reinsurer, which has been the subject of bid attention, said it would release a new strategic plan in early September.

(Reporting by Inti Landauro; Editing by Sudip Kar-Gupta)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.