In 1Q2024 all business activities of SCOR contributed to a strong consolidated Group net income

13 May 2025 — Marina MAGNAVAL
SCOR recorded EUR 200 million net income (EUR 195 million adjusted) in 1Q2025, supported by all

business activities, the company said in its press release on the first quarter results.

In P&C, the combined ratio of 85.0% in 1Q is primarily driven by a low attritional loss and commission ratio of 74.7% reflecting an excellent underlying performance and allowing for buffer building. The natural catastrophe claims ratio stands at 12.5% mainly driven by losses related to the LA wildfires.

In L&H, the insurance service result stands at EUR 118 million in 1Q, driven by a level of CSM amortization and risk adjustment release in line with expectations, and a neutral experience variance.

In Investments, SCOR benefits from an elevated regular income yield of 3.5% in 1Q along with continued attractive reinvestment rates. The effective tax rate stands at 29.7% for 1Q2025.

The annualized Return on Equity stands at 18.7% (18.3% adjusted) in 1Q2025 and the Group Economic Value increases by 6.8% at constant economics. SCOR's Solvency ratio is estimated at 212% at the end of 1Q2025, up 2 points vs FY 2024, from positive net operating capital generation.

“I am satisfied with the first quarter results. All business activities contribute to a strong consolidated Group net income. The P&C performance continues to be excellent with a combined ratio of 85%, after absorbing elevated Nat Cat events during the quarter and allowing for an additional level of prudence building. L&H improves its insurance service results with a neutral experience variance. In Investments, SCOR benefits from an elevated return on invested assets. Overall, we are starting the year with a high ROE of 18.7% and an improved solvency ratio of 212%, supported by positive net operating capital generation”, commented Thierry Léger, Chief Executive Officer of SCOR.

The full report of SCOR can be found here.



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