Business
First quarter 2026 results: EUR 225 million net income in Q1 2026
Press release06 May 2026 - N° 8 First quarter 2026 results EUR 225 million net income in Q1 2026 Group net income of EUR 225 million in Q1 2026 driven by all business activities (EUR 220 million adjusted1) P&C combined ratio of 80.2%, with a benign natural catastrophe experience and continued buffer buildingL&H insurance service result2 of EUR 107 million, with experience variance in line with expectationsInvestments regular income yield of 3.6%, with continued attractive reinvestment rates IFRS
About this update from Scor Se
Press release06 May 2026 - N° 8 First quarter 2026 results EUR 225 million net income in Q1 2026 SCOR SE’s Board of Directors met on 5 May 2026, under the chairmanship of Fabrice Brégier, to approve the Group’s Q1 2026 financial statements. Thierry Léger, Chief Executive Officer of SCOR, comments: “We delivered a solid first-quarter performance, with all business activities contributing to a RoE of 21.7%. P&C continues to perform at an excellent level, with a combined ratio of 80.2%, allowing for additional buffer building and a precautionary IBNR6 provision related to the Middle East conflict. L&H performed in line with expectations. Investments continue to benefit from elevated returns on invested assets.We continue to strengthen the resilience of our balance sheet by adding EUR 300 million of buffers to the P&C Best Estimate Liabilities. The Group solvency ratio increases by 5 points to 220%, driven by strong net operating capital generation.I am confident in SCOR's ability to deliver on its 2026 objectives.” Group performance and context SCOR records EUR 225 million net income (EUR 220 million adjusted1) in Q1 2026, supported by all business activities: The Return on Equity stands at 21.7% (21.1% adjusted1) in Q1 2026 and the Group Economic Value increases by 7.4% at constant economics4. SCOR's Solvency ratio is estimated at 220% at the end of Q1 2026, up 5 percentage points versus FY 2025, driven by a strong net operating capital generation consistent with the FY 2026 guidance, and supported by the January 1 P&C Treaty renewals and Q1 benign Nat Cat experience. In Q1 2026, SCOR strengthened its Solvency II balance sheet resilience with an exceptional EUR 300 million of buffer added to P&C Best Estimate Liabilities, following an internal capital management optimization. Ongoing excellent P&C underlying performance In Q1 2026, P&C insurance revenue stands at EUR 1,812 million, up 5.4% at constant exchange rates (down 2.5% at current exchange rates) compared to Q1 2025. This growth is mainly driven by Reinsurance thanks to strong renewals. New business CSM in Q1 2026 stands at EUR 722 million, up 1.8% at current exchange rates, supported by reinsurance volume growth and positive retrocession impacts. P&C (re)insurance key figures: The P&C combined ratio stands at 80.2% in Q1 2026, compared to 85.0% in Q1 ...