SCOR has completed the cross-border conversion of its Irish subsidiary SCOR Global Reinsurance Ireland dac (SGRI) into a French company.
The entity, now named SCOR Global Reinsurance France SA (SGRF), became effective on Jan. 8, 2026.
SGRF is now supervised by the Autorité de contrôle prudentiel et de résolution (ACPR), the French prudential supervisory authority. The company is headquartered at SCOR's offices at 5, Avenue Kléber in Paris 16.
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SCOR said all assets and liabilities of SGRI remain those of SGRF, with no changes for counterparties. The reinsurer said the relocation reflects its Forward 2026 strategy, which focuses on simplifying the group's structure and improving operational efficiency.
The conversion follows several important business developments at SCOR in recent months.
Read more: SCOR extends contingent capital program through 2028
In December, the reinsurer renewed its contingent capital program for three years. The structure can provide up to €300 million of additional capital if specified triggers occur, including "extreme events (natural disasters or events affecting mortality)" or a "significant fall in the share price of the company's ordinary shares."
SCOR said the program is intended to help protect equity and the group's solvency if those conditions are met.
In November, SCOR Investment Partners reported that its insurance-linked securities investment platform had surpassed US$5 billion in assets under management. The reinsurer said catastrophe bonds remain the most prominent category within the platform's offerings.
Read more: SCOR's ILS platform surpasses US$5 billion milestone
SCOR Investment Partners offers three open-ended funds under the Atropos range. The flagship Atropos fund, launched in 2011, manages US$3.4 billion and invests in catastrophe bonds and private transactions, targeting an annual return of SOFR plus 600 to 800 basis points.
Also in November, SCOR's property and casualty business reported a combined ratio of 80.9% in the third quarter of 2025, an improvement from 88.3% a year earlier. The segment's natural catastrophe ratio stood at 2.7%, compared with 6.4% for the first nine months of the year.
The attritional loss and commission ratio was 79.2%, while the expense ratio stood at 8.2%. The P&C insurance service result reached €255 million, driven by a €267 million contractual service margin amortization and a €32 million risk adjustment release, partly offset by a €53 million negative experience variance and €9 million from onerous contracts.
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