SCOR grows property catastrophe reinsurance in competitive market
Updated
Updated · Artemis.bm · May 6
SCOR grows property catastrophe reinsurance in competitive market
10 articles · Updated · Artemis.bm · May 6
The reinsurer posted first-quarter adjusted net income of 220 million euros, a 21.15% return on equity and a 220% solvency ratio, while adding 300 million euros to P&C liabilities.
At April renewals, estimated gross premium income fell 8.7% as SCOR cut US casualty volumes, but property and property-cat business rose from 37% to 41% of the renewed portfolio.
SCOR said terms and attachment points broadly held despite softer pricing, and it set a mid-double-digit IBNR provision over possible Middle East conflict exposure while expecting competition to persist through 2026 renewals.
Can SCOR's record profits withstand falling prices and its growing exposure to unpredictable natural disasters?
SCOR is betting bigger on climate risk while retreating from US casualty. Is this a strategic masterstroke or a high-stakes gamble?