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France's Scor Q3 net income falls as catastrophe losses rise

By Reuters News


Overview

  • France-based reinsurer's Q3 net income fell 4.8% yr/yr to EUR 206 mln

  • Insurance revenue for Q3 rose 1.2% yr/yr to EUR 3.76 bln

  • P&C combined ratio increased to 84.1% due to active natural catastrophe losses


Outlook

  • Company plans to unveil new strategic plan on 3 December 2026

  • SCOR expects to benefit from elevated reinvestment rates in its investment portfolio


Result Drivers

  • NATURAL CATASTROPHE LOSSES - Co said P&C combined ratio was affected by an active quarter for natural catastrophe activity, including the Colombia earthquake and accumulation of smaller events

  • INVESTMENT INCOME - Co said investment portfolio benefited from elevated reinvestment rates and a larger private equity fund distribution, resulting in a regular income yield of 4.1%

  • L&H EXPERIENCE VARIANCE - Co said L&H insurance service result was supported by a positive experience variance of EUR 12 mln, in line with expectations


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

9M Net Income

EUR 603 mln

9M P&C Insurance Combined Ratio

84.10%

9M Solvency Ratio

221.00%


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the reinsurance peer group is "buy"

  • Wall Street's median 12-month price target for Scor SE is €37.00, about 12.1% above its October 29 closing price of €33.02

  • The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 7 three months ago


Reuters Recommended Reads

  • Oct 28 - European banks beat profit forecasts, Brazil overshadows Santander

  • Oct 27 - Arch Capital Q3 net income falls, catastrophe losses rise

  • Oct 28 - Markel Q3 operating revenue rises on industrial segment


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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