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Finance

Scor beats profit consensus despite active catastrophe quarter

Published by Global Banking & Finance Review

Posted on October 30, 2026

2 min read

· Last updated: October 30, 2026

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Scor Outperforms Q3 Profit Consensus Despite Catastrophe Losses

Scor’s Third-Quarter 2025 Financial Performance Overview

By Scott Vincent

Oct 30 (The Insurer) - Scor reported third-quarter group net income of €206 million ($230 million) on Friday, down 4.8% year on year but ahead of the company-compiled consensus of €176 million.

P&C Business Results

Within its P&C business, the Paris-based reinsurer reported a combined ratio of 84.1%, a deterioration of 3.2 percentage points compared with the third quarter of 2025.

Catastrophe Impact

This reflected an active quarter for catastrophe activity, including the Colombia earthquake as well as an accumulation of smaller events.

Scor reported a natural catastrophe ratio of 9.1% for the quarter, within its 10% budget.

Underlying Performance

Scor said its attritional loss and commission ratio of 75.7% reflected a strong underlying performance and additional buffer building.

P&C Revenue and Service Result

P&C insurance revenue rose to €1.876 billion, an increase of 2.3% at constant exchange rates. Scor’s P&C insurance service result was down 15% year on year to €216 million.

Life and Health Insurance Segment

Life and health insurance revenue was down 2.3% at constant exchange rates to €1.881 billion.

Year-to-Date Performance

For the first nine months of the year, Scor reported a P&C combined ratio of 81.3%, a year-on-year improvement of 1.5 points. The group's nine-month natural catastrophe ratio stood at 5.4%.

Upcoming Events

Scor is due to host its investor day on December 3.

Key Takeaways

  • Q3 net income of €206 million down 4.8% YoY but above consensus (€176 million), showing resilience through active catastrophe losses (markets.ptc.ft.markitdigital.com)
  • P&C combined ratio worsened to 84.1% (+3.2 pts), driven by 9.1% natural catastrophe ratio within its 10% budget, but offset by a strong attritional loss and commission ratio of 75.7% (pr.meridianstar.com)
  • P&C revenue rose 2.3% at constant FX to €1.876 billion; L&H insurance revenue declined ~2.3% at constant FX to €1.881 billion; solvency strengthened at ~221%, and investor day set for Dec 3 to unveil new strategy (markets.ptc.ft.markitdigital.com)

References

Frequently Asked Questions

What was Scor's Q3 group net income?
Scor reported third-quarter group net income of €206 million, beating the consensus estimate of €176 million.
How did catastrophe events impact Scor's results?
Scor's combined ratio rose due to active catastrophe events, including the Colombia earthquake and an accumulation of smaller events.
How did Scor's P&C segment perform in Q3?
The P&C insurance revenue rose 2.3% to €1.876 billion, although the insurance service result dropped 15% year on year to €216 million.
What was Scor's natural catastrophe ratio in Q3?
Scor reported a natural catastrophe ratio of 9.1% for the quarter, within its 10% budget.
When is Scor's next investor day?
Scor is scheduled to host its investor day on December 3.

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