Results
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The club’s net combined ratio dropped by 2 points to 93% for the year. -
The investment vehicle reported a profit before tax of £22.7mn.
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The legacy specialist’s total comprehensive income also returned to the black.
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The undiscounted combined operating ratio increased slightly to 95.8%.
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Combined ratios improved all around thanks to better pricing and a benign cat quarter.
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The group's P&C segment reported top-line expansion of 6.2% over the period.
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MS Re reported a net profit of $366mn, which was hailed as a “watershed” for the company.
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The carrier banked a $575mn prior-year reserve charge in fiscal Q4.
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The unit booked rate increases and the reversal of Ukraine and Covid-19 losses.
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The marine carrier reported a ‘benign’ P&I claims environment.
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The CEO said Scor is still on track to hit a full-year 87% combined ratio.
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