SCOR grows property catastrophe reinsurance in competitive market
Updated
Updated · Artemis.bm · May 6
SCOR grows property catastrophe reinsurance in competitive market
3 articles · Updated · Artemis.bm · May 6
Summary
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.