In P&C, the combined ratio stood at 84.1%, including a natural catastrophe ratio of 9.1%. The combined ratio also reflects strong attritional loss experience, as well as additional buffer building. In L&H, the insurance service result stood at EUR 119 million, with a positive experience variance of EUR 12 million.
In Investments, SCOR benefits from still-elevated reinvestment rates and recorded a high regular income yield of 4.1%. The effective tax rate stood at 28.5%. The annualized Return on Equity stood at 20.4% in Q3 2026 and the Group Economic Value over the first nine months of 2026 increased by 11.9% at constant economics.
Over the first nine months of 2026, SCOR reported a net income of EUR 603 million (EUR 615 million adjusted), implying an annualized Return on Equity of 18.9% (19.3% adjusted). The Group solvency ratio is estimated at 221% at the end of Q3 2026, up 6 percentage points vs FY 2025. The increase over nine months had been driven by operating capital generation from all businesses, which more than offsets the capital deployment for business growth, deleveraging actions, and the accrual of dividend.
“SCOR achieved another strong performance this quarter, across all three businesses. P&C delivers both revenue growth and profitability, with a combined ratio well below the 87% target despite an active natural catastrophe quarter. L&H delivers a robust insurance service result combined with experience variance within the expected range. Our investment portfolio continues to deliver attractive returns. With a solvency ratio of 221%, SCOR is entering the final stretch of Forward 2026 with a strengthened balance sheet as it prepares to unveil its new strategic plan on 3 December”, commented Thierry Léger, Chief Executive Officer of SCOR.
The full 3Q2026 report can be found here.
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