Global reinsurer SCOR reported a net profit of €225 million for the first quarter of 2026, with contributions from all business lines, supporting confidence in achieving its 2026 targets.
P&C revenue reached €1.812 billion, up 5.4% at constant exchange rates compared to the same period last year, mainly driven by the reinsurance segment amid strong renewals, News.Az reports, citing Reinsurancene.
P&C new business CSM totaled €722 million, rising 1.8%, supported by higher reinsurance volumes and a positive retrocession impact. The combined ratio stood at 80.2%, including 4.2% from natural catastrophes, reflecting a relatively calm quarter.
During April renewals, the company maintained margins through disciplined underwriting despite a more competitive environment, with a net underwriting ratio change of less than one point.
In the L&H segment, revenue was €2.004 billion, down 0.4% at constant exchange rates, while the company continued to build CSM through new business, particularly in Protection and Longevity.
Total invested assets reached €23.5 billion at the end of March, with 79% allocated to fixed income instruments with an average rating of A+ and a duration of 4.1 years.
CEO Thierry Léger said all business lines contributed to a return on equity of 21.7%, while strong P&C performance helped build buffers and additional reserves. The group’s solvency ratio increased by 5 points to 220%, supported by strong capital generation.
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