SCOR: 2022 results

SCOR has ended the financial year 2022 with a 12.1% turnover increase to 19.732 billion EUR (21.1 billion USD).

SCOR P&C premiums have improved by 21.7% to reach 10.017 billion EUR (10.7 billion USD). Marked by several exceptional developments, the non-life combined ratio stood at 113.2% in 2022 against 100.6% in 2021.

The life and health entity (SCOR L&H) has recorded an annual turnover of 9.715 billion EUR (10.4 billion USD), representing a 3.7% growth over one year.

The French group has posted a net loss of 301 million EUR (321.3 million USD) as at 31 December 2022, against a net profit of 456 million EUR (516.4 million USD) for the same period in 2021.

The net result was affected by several factors including:

• the high frequency of natural catastrophes, in particular the drought in Brazil which has cost the group 204 million EUR (2017.8 million USD) in 2022
• the establishment of an 86 million EUR (91.8 million USD) provision for the war in Ukraine
• the non-recognition of tax credits
• a 325 million EUR (346.9 million USD) charge related to deaths due to the pandemic, 290 million EUR (309.5 million USD) of which were incurred by the North American portfolio.

During the period under consideration, the company's shareholders' equity amounted to 5.133 billion EUR (5.5 billion EUR). The 213% solvency ratio has exceeded the optimal solvency range (185%-220%) set by the last strategic plan.

SCOR is proposing the distribution of a dividend of 1.4 EUR (1.5 USD) per share for the year 2022.