Scor Stock Earnings Reports

SCOR reported a strong Q3 2025: group net income for the quarter was EUR 211m, with a 21.5% return on equity and economic value (EV) growth of 12.7% at constant FX. P&C delivered an excellent performance (Q3 combined ratio 80.9%, Nat Cat ratio 2.7% in Q3 and 6.4% YTD) and Life & Health is on track to meet the Forward 2026 insurance service result guidance (~EUR 400m). Investment income remained robust (regular income yield ~3.5%; ROIA ~3.3% in Q3). The group solvency ratio is 210% (stable vs Q2 and in the upper part of the target range). Management reiterated its Forward 2026 discipline: maintain underwriting discipline, build opportunistic prudence (additional P&C buffers placed in 2025; these are held in the risk adjustment and do not directly consume capital), and allocate capital selectively to risk-adjusted opportunities (preferred lines, engineering, credit, structured solutions, international casualty, facultative, longevity). They signalled the market is getting more competitive (especially Cat XL), so revenue growth (previous 4–6% range) is now an outcome rather than a target — deployment will be conditional on price adequacy. A Q4 P&C reserve review is underway and preliminary results indicate no need for an overall attritional reserve strengthening. Management reiterated guidance/expectations from Forward 2026 (including expected modest solvency ratio generation of ~1–2 points per year) while flagging seasonal and FX impacts on solvency in the quarters.