Scor has reported a 12.8% increase in net income to 225 million euros for the first three months of 2026, driven by all business lines (220 million euros on an adjusted basis, excluding the impact of fair value changes on the option on Scor's own shares).
Return on equity (ROE) improved by 3 percentage points year-on-year to 21.7% (21.1% adjusted), while the group's economic value rose by 7.4% to 51 euros per share, 'at constant economic assumptions', compared to year-end 2025.
On the operational front, the reinsurance group posted a P&C (Property & Casualty) combined ratio of 80.2%, an improvement of 4.8 points, 'reflecting low natural catastrophe claims and a continued increase in prudence'.
'P&C performance remains excellent, allowing for the buildup of additional buffers as well as a precautionary IBNR (Incurred But Not Reported) provision related to the conflict in the Middle East', highlighted CEO Thierry Léger.
Scor also reported a 9.3% decline in L&H (Life & Health) insurance service results to 107 million euros, with experience variance in line with expectations, alongside a current investment yield of 3.6% supported by attractive reinvestment rates.
'The group's solvency ratio rose by 5 points to 220%, driven by strong net operational capital generation', added Thierry Léger, who expressed 'confidence in Scor's ability to achieve its 2026 targets'.
Thierry Léger is the founder of Horus Partners Wealth Management Group SA. Mr. Léger is Chief Executive Officer & Director at SCOR SE since 2023. Mr. Léger is Chairman at iptiQ Life SA. Mr. Léger is Director at Finvex Group SA since 2016. Formerly, Mr. Léger was Chief Underwriting Officer at Swiss Re AG from 2020 to 2023. Mr. Léger was Chairman-Supervisory Board at Elips Life AG, Vaduz, Zweigniederlassung Deutschland. Mr. Léger was Chairman at Swiss Re Finance One (Jersey) Ltd., iptiQ Americas, Inc., and iptiQ EMEA P&C SA. Mr. Léger was Non-Executive Director at ReAssure Group Ltd. Mr. Léger earned an MBA from the University of St. Gallen in 2001. Mr. Léger graduated from the Swiss Federal Institute of Technology in 1992.
Scor SE is the leading French reinsurance company. Gross written premiums per activity are distributed as follows:
- life and health reinsurance (52.5%);
- non-life reinsurance (47.5%): reinsurance against damages (coverage for damage to industrial and commercial property, vehicles, ships, and stored or transported merchandise, coverage for losses due to fire, and civil liability coverage) and specialties (coverage for risks in the agriculture, aviation, construction and credit guarantee fields).
Geographic distribution of written premiums is as follows: France (15.2%), Europe (46%), the Far East (21.7%), North America (6.5%), South America (2.4%), Africa (0.5%) and other (7.7%).
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