Scor increased profit by 28% to €327 million ($491.72 million) in the first half, despite unusually high major industrial losses.

The French reinsurer’s gross written premium (GWP) grew 20% to €6.49 billion ($9.74 billion).

Property and casualty GWP increased 19% to €2.86 billion ($4.3 billion) and the division’s combined operating ratio was steady at 90.9%, with low catastrophe losses.