Scor’s global property and casualty (P&C) division increased gross written premium (GWP) by 2.7% to €4.94 billion ($6.99 billion) last year.

The improved GWP was partly driven by contributions from Generali US, which was acquired by the French reinsurer in 2013.

The P&C arm’s combined operating ratio improved to 91.4% last year from 93.9%.

“The group delivers high-quality results,” Chairman and CEO Denis Kessler said. “It has continued to grow and expand its franchise.”

Scor’s overall GWP grew 10.4% to €11.32 billion ($16.01 billion) last year, but net income fell 6.7% to €512 million ($724.34 million). It says the 2013 net income of €549 million ($776.76 million) included an extraordinary gain of €183 million ($258.97 million).