Scor says net profit grew 7% to €111 million ($145.6 million) in the first quarter – a good result in an uncertain economic environment, according to the reinsurer.

Total gross written premium was €2.39 billion ($3.14 billion), aided by “very good… global property and casualty (P&C) renewals and the signing of major new contracts by Scor Global Life”.

The company forecasts premium income of more than €10 billion ($13.12 billion) for the full year.

Gross written premium from the P&C business was €1.2 billion ($1.57 billion), while the division’s combined operating ratio was 90.4%, aided by fewer natural catastrophes.

The P&C business’ technical profitability is “significantly exceeding the strategic plan objectives”.

Scor forecasts P&C premium income of €4.9 billion ($6.43 billion) for the full year.

This year marks the end of the company’s strategic plan, which has established Scor as a “major player in the global reinsurance sector”, Chairman and CEO Denis Kessler says.

“Scor is actively preparing its new strategic plan, which will define the group’s road map for the period [from] mid 2013 to mid 2016 in an economic and financial environment that remains highly uncertain.”