Scor has recorded net income of €262 million ($412.37 million) for the first half, down from €292 million ($459.59 million) in the corresponding period last year.

The French reinsurer says the fall was due to US tax reforms.

Property and casualty and life cover contributed to an 8.2% increase in gross written premium to €7.54 billion ($11.86 billion).

Scor recorded a combined operating ratio of 91.4%, improving from 93.5% in the corresponding period last year.