French reinsurer SCOR announced, its Q1 2022 results will be impacted by the conflict in Ukraine. "Since the beginning of the war in Ukraine on 24th February 2022, SCOR has been closely monitoring the unfolding of events, and the resulting potential impact of the conflict and related international sanctions on its activity".

SCOR PO (the subsidiary owned by SCOR in Russia) is directly impacted and has stopped underwriting new business. More generally, this conflict has consequences on business lines such as Political Risks, Credit and Surety, and Aviation.

SCOR expects a Q1 2022 charge in the high double-digit EUR million range for potential claims related to the conflict across both treaty reinsurance and specialty insurance. As the conflict continues, this estimate will evolve.