SCOR reports 9.6% growth in P&C reinsurance renewals for 2025

Premiums rise as the firm balances expansion

SCOR reports 9.6% growth in P&C reinsurance renewals for 2025

Reinsurance

By Kenneth Araullo

SCOR has announced its January 2025 property and casualty (P&C) reinsurance renewal results, reporting a 9.6% increase in estimated gross premium income (EGPI).

The company maintained its underwriting discipline while expanding its presence in preferred business lines as part of its Forward 2026 growth strategy. 

Reinsurance demand remained strong, though market conditions were slightly more competitive due to increased capital supply. SCOR kept terms and conditions largely stable and maintained net profitability in its P&C reinsurance portfolio. 

SCOR renewed approximately 64% of its P&C reinsurance premiums during the January 2025 renewal period, accounting for about half of its total P&C portfolio. The renewed book reached €5.27 billion, an increase from the previous year. 

Premiums in P&C lines grew by 2.9% to €2.8 billion, with natural catastrophe premiums remaining stable and net exposure seeing a slight increase. In the US casualty market, SCOR took a cautious approach, selectively renewing accounts, which led to an 11% decrease in EGPI for that segment. 

Specialty lines saw the highest growth at 14.3%, with engineering, marine, and inherent defects insurance (IDI) premiums rising by 17.2%. Growth in these areas aligns with SCOR’s Forward 2026 plan, which prioritizes diversification. 

Alternative solutions posted a 29.6% increase in EGPI, continuing momentum from prior years with new business across all regions. 

SCOR market strategy and outlook

SCOR reported that the expected net technical profitability of its renewed portfolio remains stable. The company leveraged retrocession strategies to offset margin pressures from commissions, modeling adjustments, and business mix shifts. 

Looking ahead, SCOR anticipates maintaining a disciplined approach to upcoming 2025 renewals, expecting stable pricing and continued opportunities for profitable growth. The company is also focused on expanding risk partnerships with both new and existing counterparties. 

Jean-Paul Conoscente (pictured above), CEO for P&C at SCOR, said the company achieved a 9.6% EGPI increase while keeping technical profitability stable.

“Looking ahead, we believe the market still offers opportunities for profitable growth. SCOR will continue to leverage on its Tier 1 franchise and build on the strong momentum achieved during the 1.1 renewals,” Conoscente said.

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