SCOR logged net income of €200m for the first quarter of 2025 (Q1 2025), a 1.7% increase from €196m reported in the same period the previous year.
The company attributed the growth to contributions from all business segments.
Its earnings per share saw a marginal rise to €1.12 for the quarter, up from €1.10 in Q1 2024.
The French reinsurer’s operating results also improved, with a 10.6% increase to €317m in Q1 2025 from €287m a year earlier.
Overall insurance revenue decreased by 1.2%, reaching €4bn in Q1 2025 from €4.1bn in the prior year’s quarter.
The property and casualty (P&C) insurance segment contributed €1.8bn to total revenues, up by 1.2% at current exchange rates, while the life and health (L&H) segment added €2.2bn, a 3.1% decline.
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By GlobalDataThe company’s gross written premiums (GWP) for the quarter dipped to €4.9bn.
Within this figure, P&C GWP accounted for €2.5bn, and L&H GWP made up €2.4bn.
The P&C segment’s combined ratio was reported at 85% for Q1 2025, largely attributed to a low rate of attritional losses.
Natural catastrophe claims, influenced by the LA wildfires, represented a ratio of 12.5%.
SCOR CEO Thierry Léger said: “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 [return on investment] of 18.7% and an improved solvency ratio of 212%, supported by positive net operating capital generation.”
Last month, French authorities commenced an investigation into the actions of SCOR’s former chairman regarding Covéa group’s acquisition of PartnerRe.
Denis Kessler, who had been at the helm of SCOR for more than 20 years, died in 2023.
SCOR has denied any direct or indirect involvement and responsibility in the matter.
