SCOR posts selective growth at 1 January renewals as competition intensifies

SCOR has said it achieved selective growth at the 1 January 2026 property and casualty (P&C) reinsurance renewals, despite a more competitive pricing environment.

The reinsurer reported estimated gross premium income growth of 4.7% across its traditional reinsurance book and 80.5% in alternative solutions.

SCOR said this was achieved while maintaining underwriting discipline and active portfolio steering.

The Paris-based reinsurer said demand for reinsurance coverage remained elevated at the renewals.

The reinsurer said competition intensified following strong market profits and increased capital supply, driving prices down in most lines, particularly on non proportional placements.

It added that the market nevertheless remained disciplined on structures and terms and conditions.

Within its portfolio, SCOR reported growth of 7.4% in P&C lines, driven by what it described as a flight to quality, growth in APAC and North America and expansion with core clients.

Specialty lines grew by 0.3% as pricing pressure limited expansion, the reinsurer said.

SCOR explained that approximately two thirds of its P&C reinsurance book renews in January, representing around half of its total P&C premiums.

Alternative solutions delivered the strongest growth, rising 80.5% to €1,185m, driven primarily by capital relief transactions.

Jean-Paul Conoscente, CEO of P&C at SCOR, (pictured) said the renewals outcome balanced growth and profitability.

“In a more competitive environment, we are satisfied with the outcome of the 1.1 renewals, which combine growth with an adequate level of profitability,” Conoscente said.

“SCOR achieved targeted growth of 4.7% for its traditional reinsurance, leveraging its franchise to grow with core clients under broadly stable terms and conditions, including attachment points,” he continued.

“The increase in the net underwriting ratio is estimated at 2.0 percentage points, supported by our retrocession buying,” Conoscente said.

“I also want to highlight the continued momentum in Alternative Solutions, where we delivered another strong renewal season driven mostly by our core appetite for capital relief transactions.

“Looking ahead, we believe SCOR can continue to play on its strengths to capture profitable opportunities,” Conoscente added.