French reinsurer SCOR reported net income of EUR 208 million for the fourth quarter of 2025, contributing to full-year earnings of EUR 851 million, supported by solid performance across all business lines.

In the P&C reinsurance segment, underwriting results remained strong, with a combined ratio of 80.9% in Q4, reflecting moderate natural catastrophe activity and robust underlying performance. The full-year natural catastrophe ratio stood at 6.8%, below the company’s budget, despite events such as the Los Angeles wildfires and Hurricane Melissa.

The Life & Health business also delivered solid results, posting an insurance service result of EUR 115 million in Q4, supported by favorable experience variances and continued growth in protection and longevity business.

SCOR’s investment portfolio, totaling EUR 23.5 billion, generated a 3.8% regular income yield in the quarter, benefiting from still-attractive reinvestment rates.

On the back of the strong results, the Board proposed a regular dividend of EUR 1.9 per share for 2025, up 5.6% compared with the previous year.