French reinsurer SCOR has disclosed its January 2026 Property & Casualty (P&C) reinsurance renewal results, reporting selective portfolio growth in a competitive pricing environment, with overall estimated gross premium income (EGPI) from traditional reinsurance rising 4.7% to €4.493 billion, complemented by an 80.5% increase in Alternative Solutions to €1.185 billion.
Within traditional P&C reinsurance lines, SCOR reported a 7.4% EGPI uplift to €2.848 billion, supported by continued demand from core clients and solid activity across Asia-Pacific and North America.
Meanwhile, Specialty lines remained resilient, with modest growth of 0.3% to €1.645 billion, despite ongoing market pricing pressures.
SCOR explained that demand for reinsurance coverage remains elevated, though competition has intensified in the P&C reinsurance market following strong profits and an increase in capital supply.
“This has driven prices down in most lines, especially on non-proportional placements. Nevertheless, the reinsurance market remained disciplined on structures and terms and conditions,” the French reinsurer added.
Jean-Paul Conoscente, CEO of P&C at SCOR, commented, “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.
“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.
“The increase in the net underwriting ratio is estimated at 2.0 percentage points, supported by our retrocession buying.
“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.”
According to SCOR, around 2/3 of its P&C Reinsurance book is renewed in January, representing 50% of SCOR’s total P&C premiums.
The firm concluded that for the remaining renewals in 2026, it is prepared for a continued competitive market and will carry on with its Forward 2026 diversified growth strategy in a disciplined way.
