Press release
4 February 2026 - Ndeg 03
January 2026 P&C Reinsurance Renewals
Selective growth in a competitive pricing environment
-- In a competitive pricing environment, SCOR grows its P&C portfolio selectively, seizing profitable opportunities while maintaining a strong underwriting discipline. -- During the January 2026 P&C renewals, SCOR delivers EGPI1 growth of 4.7% for traditional reinsurance and 80.5% for Alternative Solutions. With its diversified portfolio mix and retrocession buying, SCOR achieves an expected increase in its underwriting ratio of 2.0 percentage points. -- Supported by its Tier 1 franchise and active portfolio steering, SCOR achieves targeted growth: -- EGPI1 increase of 7.4% for P&C Lines, with growth driven by a flight-to-quality, by markets in APAC and North America, and by core clients; -- Disciplined underwriting results in active portfolio steering and margin protection in Specialty Lines, which grew by 0.3% amid pressure on insurance and reinsurance pricing; -- Continued momentum in Alternative Solutions with EGPI1 growth of 80.5%, driven by capital relief transactions. ------------------------------------------------------------
Jean-Paul Conoscente, CEO of P&C at SCOR, comments: "In a more competitive environment, we are satisfied with the outcome of the 1.1 renewals, which combine growth with an adequate level of profitability. SCOR achieved targeted growth of 4.7% for its traditional reinsurance, leveraging its franchise to grow with core clients under broadly stable terms and conditions, including attachment points. The increase in the net underwriting ratio is estimated at 2.0 percentage points, supported by our retrocession buying. I also want to highlight the continued momentum in Alternative Solutions, where we delivered another strong renewal season driven mostly by our core appetite for capital relief transactions. Looking ahead, we believe SCOR can continue to play on its strengths to capture profitable opportunities."
January 2026 P&C Reinsurance Renewals
Demand for reinsurance coverage remains elevated. Competition has intensified in the P&C reinsurance market following strong profits and an increase in capital supply. This has driven prices down in most lines, especially on non-proportional placements. Nevertheless, the reinsurance market remained disciplined on structures and Terms and Conditions.
P&C Reinsurance book renewed at 1 January 2026(1) :
Premiums renewed Evolution vs. Main lines
(in EUR million) January 2024 concerned
------------------- ----------------- ------------- -----------
o/w Nat Cat
P&C Lines(2) 2,848 +7.4% (+12.5%)
------------------- ----------------- ------------- -----------
Specialty Lines(3) 1,645 +0.3%
------------------- ----------------- ------------- -----------
Total traditional
RI 4,493 +4.7%
------------------- ----------------- ------------- -----------
Alternative
Solutions 1,185 +80.5%
------------------- ----------------- ------------- -----------
1. Approximately 2/3 of the P&C Reinsurance book is renewed in January --
this represents c.50% of SCOR's total P&C premiums.
2. P&C Lines include Property, Property Cat, Casualty, Motor, and other
related lines (Personal Insurance, Nuclear, Terrorism, Special Risks,
Motor Extended Warranty, and Inwards Retrocession).
3. Specialty Lines include Agriculture, Aviation, Credit & Surety, Inherent
Defects Insurance, Engineering, Marine and Offshore, Space, and Cyber.
For the remaining renewals in 2026, SCOR is prepared for a continued competitive market and will carry on with its Forward 2026 diversified growth strategy in a disciplined way.
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SCOR, a leading global reinsurer As a leading Media Relations global reinsurer, SCOR offers its clients a Alexandre Garcia diversified and innovative range of media@scor.com reinsurance and insurance solutions and Investor Relations services to control and manage risk. Applying Thomas Fossard "The Art & Science of Risk", SCOR uses its InvestorRelations@scor.com industry-recognized expertise and Follow us on LinkedIn cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society. The Group generated premiums of EUR 20.1 billion in 2024 and serves clients in more than 150 countries from its 35+ offices worldwide. For more information, visit: www.scor.com All content published by the SCOR group since January 1, 2024, is certified with Wiztrust. You can check the authenticity of this content at wiztrust.com.
General
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Financial information
All figures in this press release are unaudited.
Unless otherwise specified, all figures are presented in Euros.
Any figures for a period subsequent to September 30, 2025 should not be taken as a forecast of the expected financials for these periods.
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All figures are based on available information as of January 27, 2026 unless otherwise specified.
(1) Estimated Gross Premium Income (EGPI).
Attachment
-- SCOR Press Release
(END) Dow Jones Newswires
February 04, 2026 00:58 ET (05:58 GMT)