SCOR achieves premium growth of 9.6% at Jan 1 reinsurance renewals with stable T&Cs

French reinsurer SCOR grew its estimated gross premium income (EGPI) 9.6% at the January 1st, 2025, reinsurance renewals, with expansion across all three business segments, driven by alternative solutions and specialty lines.

Approximately 64% of the firm’s property and casualty (P&C) reinsurance premiums, representing around 50% of SCOR’s total P&C premiums, is renewed at January 1st.

All in all, €4.805 billion of business was up for renewal at 1.1 2025 and growth of 9.6% across the book saw premium renewed rise to €5.265 billion.

In P&C lines, €2.719 billion of premium was up for renewal and SCOR increased premiums 2.9% to €2.798 billion, driven by continued disciplined natural catastrophe underwriting and decreasing exposures in U.S. Casualty amid a prudent approach to the line, with EGPI down 11% at the 1.1 2025 renewals.

SCOR states that nat cat premiums remain flat with a slight increase in net exposure. In property cat, EGPI rose 0.3%, while terms and conditions (T&Cs) remained stable with a -4.5% risk-adjusted rate decrease.

In specialty lines, €1.542 billion was up for renewal and SCOR grew the book 14.3% to €1.762 billion, mainly attributable to more than 17% EGPI growth in diversified lines.

SCOR grew its alternative solutions portfolio 29.6% at the renewal to €705 million from the €544 million that was up for renewal, highlighting continued positive new business momentum across all regions.

The reinsurer states that the expected net technical profitability of the renewed portfolio is unchanged with a +0.1% price change overall, reflecting discipline and “dynamic retrocession buying” as SCOR took advantage of market conditions to optimise the structure of its retro structure and reduce costs.

“We are satisfied with the successful 1.1 2025 renewals results. SCOR achieves a +9.6% EGPI growth while maintaining a stable technical profitability. We continue to deliver targeted growth in our preferred lines of business, while keeping T&Cs mostly unchanged. Despite the slight rate reduction observed in the market, SCOR successfully maintains stable pricing thanks to its proactive portfolio management. 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,” said Jean-Paul Conoscente, CEO, P&C at SCOR.

At the 1.1 2025 renewals, SCOR highlights continued elevated demand for reinsurance, and for the months ahead expects a slightly more competitive market when compared with the peak of the cycle, with disciplined underwriting and risk-adequate prices expected for the rest of the year.

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