SCOR Publishes Latest Financials

SCOR has published its latest set of results, here are the highlights FYI;

• Group net income of EUR 233 million in Q4 2024 driven by all business activities (EUR 235 million adjusted)

  • P&C combined ratio of 83.1% in Q4 2024 including a low Nat Cat ratio and allowing for ongoing reserving discipline
  • L&H insurance service result of EUR 119 million in Q4 2024
  • Investments regular income yield of 3.6% in Q4 2024

• Economic Value per share of EUR 48 (vs. EUR 51 as of 31 December 2023)

• IFRS 17 Group Economic Value of EUR 8.6 billion as of 31 December 2024, down -6.3% at constant economics. Adjusted for one-offs, Economic Value growth of +9.8% at constant economics

• Estimated Group solvency ratio of 210% as of 31 December 2024, in the upper part of the optimal range of 185%-220%, fully absorbing the impact of the 2024 L&H assumption review

• Proposed regular dividend of EUR 1.8 per share for 2024

• Annualized Return on Equity of 22.8% (23.0% adjusted) in Q4 2024. For the full year 2024, Return on Equity stands at 0.1% (0.2% adjusted); adjusted for one-offs, the annualized Return on Equity would stand at 14.9% for the full year 2024.

Thierry Léger, Chief Executive Officer of SCOR, comments: 

“I am satisfied with the fourth quarter results. All business activities contribute to a strong consolidated Group net income. On a full year basis, P&C performance is excellent: the Nat Cat ratio is below the 10% budget, and the underlying performance enables us to build significant prudence two years ahead of plan. Investments performance is strong over the year, taking advantage of the current market conditions. In L&H, we took decisive actions to restore profitability.

With a solvency ratio of 210% at year-end remaining in the upper part of the optimal range, SCOR demonstrates resilience as well as enhanced underlying capital generation, leading to a proposed dividend of EUR 1.8 per share. In the prevailing market environment, I’m fully confident that SCOR will continue to grow profitably in diversifying lines of business by leveraging its Tier 1 franchise. We are committed to delivering our Forward 2026 ambitions.”