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SCOR The Art & Science of Risk Press Release July 28 , 2021 - N ° 21 Half - year 2021 results SCOR records a strong net income of EUR 380 million in H1 2021 , demonstrating its ability to create value and its resilience Gross written premiums of EUR 8,441 million in H1 2021 , up 9.1 % at constant FX compared with H1 2020 ( up 3.0 % at current FX ) Net income of EUR 380 million in H1 2021 Annualized return on equity of 12.2 % in H1 2021 , 1,177 bps above the risk - free rate¹ Estimated solvency ratio of 245 % on June 30 , 2021 , above the optimal solvency range of 185 % - 220 % as defined in the " Quantum Leap " strategic plan SCOR SE's Board of Directors met on July 27 , 2021 , under the chairmanship of Denis Kessler , to approve the Group's H1 2021 financial statements . The key highlights are : In H1 2021 , SCOR records a strong growth with gross premiums up 9.1 % ² , strong profitability with a net income of EUR 380 million and a very strong solvency position of 245 % , demonstrating its ability to create value and its resilience . The underlying performance of the business continues to be strong , reflecting the successful recent P & C renewals in 2020 and 2021 , on the back of a disciplined ( re ) insurance market environment , with attractive growth prospects . In H1 2021 , the consequences of the Covid - 19 pandemic continue to be proactively managed . The impact of Covid - 19 on the Life side stands at EUR 268 million³ , of which EUR 222 million comes from the U.S. mortality portfolio . In P & C , the impact stands at EUR 109 million in H1 2021 , stemming mainly from Property Business Interruption lines . The conclusion of the settlement agreement with Covéa 5 demonstrates the value of SCOR's in - force Life book and provides strong optionality – with a strengthened solvency position and EUR 860 million 6 of cash to be reinvested – enabling greater flexibility to fuel growth . ■ Gross written premiums of EUR 8,441 million in H1 2021 , are up 9.1 % at constant exchange rates compared with H1 2020 ( up 3.0 % at current exchange rates ) . SCOR Global P & C gross written premiums are up 14.3 % at constant exchange rates compared with H1 2020 ( up 7.1 % at current exchange rates ) , benefiting from a strong market environment . 1 Based on a 5 - year rolling average of 5 - year risk - free rates ( 44 bps in H1 2021 ) 2 At constant exchange rates 3 Net of reduced flu claims in the U.S. , net of retrocession and before tax , including IBNR 4 Net of retrocession and reinstatement premiums , and before tax 5 Please refer to the press releases from June 10 , 2021 and July 1 , 2021 6 Of which EUR 840 million received on July 1 , 2021 SCOR SE 5 , Avenue Kléber 75795 Paris Cedex 16 , France Tél +33 ( 0 ) 1 58 44 70 00 RCS Paris B 562 033 357 Siret 562 033 357 00046 Société Européenne au capital de 1,469,373,374.58 euros Page | 1