Commercial Partners

Commercial Partners, the Bermuda-based subsidiary of French reinsurer Scor, has announced a profit of US$29mn for its principal operating arm Commercial Risk Re in 1999. The result is a 12% increase on the 1998 figure. Gross premiums increased 37% to $439mn and net earned premiums were up 54% to $341mn. An increase in cash flows from operations allowed the company to increase invested assets by 29% and, as a result, investment income rose 32% to $42mn.