SCOR: record profits in 2023

SCOR achieved a record net profit of 812 million EUR (896.2 million USD) as at 31 December 2023, against a net loss of 1.383 billion EUR (1.5 billion USD) in 2022.

Insurance income jumped from a loss of 1.218 billion EUR (1.3 billion USD) in 2022 to a profit of 1.486 billion EUR (1.6 billion USD) in 2023.

During the reporting period, gross written premiums amounted to 19.371 billion EUR (21.4 billion USD), dropping by 1.8% over one year. Non-life premiums stood at 9.452 billion EUR (10.4 billion USD), compared with 9.919 billion EUR (11 billion USD) for L&H business.

The P&C combined ratio gained 29.9 points to 85%, from 114.9% at the end of 2022. This improvement was driven by a lower-than-expected natural catastrophe claims experience.

The solvency ratio of 209% is at the top end of the optimal range (185%-220%) set by the "Forward 2026" strategic plan.

A dividend of 1.8 EUR (2 USD) per share will be proposed at the next Ordinary General Meeting scheduled for 17 May 2024.