Higher rates and a relatively benign catastrophe experience have helped French reinsurer Scor Re boost profit to €206 million ($241 million) for the six months to June 30 from €40 million ($46.8 million) in the corresponding period last year.

The Paris-based company increased gross written premium (GWP) by 36% to €4.64 billion ($5.43 billion).

GWP from the global property and casualty division rose by 16% to €2.3 billion ($2.7 billion), which the company attributed to “robust P&C renewals”.

The life division earned GWP of €2.4 billion ($2.8 billion), up 63%, mostly driven by the acquisition of Transamerica Re.

Investment income fell 15% to €306 million ($358 million), which the company says was due to low interest rates and more volatile markets. It says the major short-term risk is from a worsening of the European debt crisis.

Scor Re noted its June 2011 result was affected by the Australian floods, Christchurch earthquakes, US tornadoes and Japan tsunami.