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SCOR's Strong Q2 2025 Results Amid Challenging Macroeconomic Conditions
In the face of a deteriorating global macroeconomic environment caused by tensions arising from the war in Ukraine and related sanctions affecting the supply of natural resources, SCOR SE has reported impressive financial results for Q2 2025.
The reinsurance giant announced a Group net income of EUR 226 million, a solvency ratio of 210%, and an annualized Return on Equity (ROE) of 22.6%. These results not only surpassed the company's Forward 2026 strategic targets but also demonstrated disciplined risk and capital management, strong underwriting profitability, and efficient capital use.
The Group net income was supported by robust performance across all business segments, notably Property & Casualty (P&C) and Life & Health (L&H). The P&C segment achieved an excellent combined ratio of 82.5%, reflecting disciplined underwriting and favorable natural catastrophe experience. The insurance revenue was EUR 3.8 billion for Q2, slightly down from the prior year.
The solvency ratio stood at a strong 210%, which underscores SCOR’s sound capital management and ability to absorb risks while supporting shareholder returns, such as the 3.5% dividend yield. The Return on Equity (ROE) was 22.6% annualized for the quarter, reflecting high profitability relative to shareholder equity and exceeding strategic targets.
In the UK, according to the ONS, all age groups' mortality is up as of the publication date, adding another layer of challenge to the insurance industry. However, SCOR's financials for the first three quarters of 2022 and the first half of 2022 highlighted challenges in reinsurance pricing, Cat claims, and a return to more normal mortality rates following Covid-19.
SCOR published its latest set of results in Q4 2024, showing a significant improvement compared to the net loss of 239m Euros in the first half of 2022. The financial results were driven by all business activities, resulting in a group net income of EUR 233 million. The financials included ongoing reserving for natural catastrophes (Nat Cat).
The P&C combined ratio for Q4 2024 was 83.1%, lower than the previous one, indicating improved underwriting performance. Investment income remained strong with a 3.5% yield on reinvestments.
Overall, SCOR’s Q2 2025 results and Q4 2024 financials demonstrate the company's resilience and adaptability in navigating challenging circumstances, positioning it well for sustainable growth and shareholder value creation.
[1]: SCOR SE Q2 2025 Earnings Release [2]: SCOR SE Q2 2025 Presentation [3]: SCOR SE Q2 2025 Financial Analysis Report
- Despite the challenging macroeconomic conditions, SCOR SE's strong underwriting performance and efficient capital use resulted in a Group net income of EUR 226 million in Q2 2025, as reported in the SCOR SE Q2 2025 Earnings Release.
- The reinsurance giant's solvency ratio stood at 210%, showcasing robust financial health, as highlighted in the SCOR SE Q2 2025 Financial Analysis Report.
- SCOR SE's impressive Q2 2025 results, which demonstrated high profitability and efficient capital use in various business segments, encourage confidence in their financial growth and shareholder value creation, as detailed in the SCOR SE Q2 2025 Presentation. Additionally, these results involved investments in various financial markets for long-term growth and stability.
