Scor SE, France’s largest reinsurer, said third-quarter profit rose 70 percent, helped by the mortality-risk business gained through the acquisition of Transamerica Re.
Net income climbed to 188 million euros ($254 million) from 111 million euros a year earlier, the Paris-based company said today in a statement. Gross written premiums rose 15 percent to 2.01 billion euros in the period.
“The finalization of the Transamerica Re mortality portfolio acquisition in the third quarter, which gives the group a new dimension in the life-reinsurance market, has helped Scor to accelerate toward the implementation of its strategic plan.”
Scor, which completed the $912.5 million acquisition of Transamerica from Aegon NV in August, said in September it expects annual sales of 10 billion euros in 2013.