SCOR January 2026 P&C Reinsurance Renewals: Selective growth in a competitive pricing environment

by | February 4, 2026 12:41 pm | US Markets

Press release
4 February 2026 – N° 03

January 2026 P&C Reinsurance Renewals

Selective growth in a competitive pricing environment

  • In a competitive pricing environment, SCOR grows its P&C portfolio selectively, seizing profitable opportunities while maintaining a strong underwriting discipline. 
  • During the January 2026 P&C renewals, SCOR delivers EGPI1 growth of 4.7% for traditional reinsurance and 80.5% for Alternative Solutions. With its diversified portfolio mix and retrocession buying, SCOR achieves an expected increase in its underwriting ratio of 2.0 percentage points. 
  • Supported by its Tier 1 franchise and active portfolio steering, SCOR achieves targeted growth:   
    • EGPI1 increase of 7.4% for P&C Lines, with growth driven by a flight-to-quality, by markets in APAC and North America, and by core clients;
    • Disciplined underwriting results in active portfolio steering and margin protection in Specialty Lines, which grew by 0.3% amid pressure on insurance and reinsurance pricing;
    • Continued momentum in Alternative Solutions with EGPI1 growth of 80.5%, driven by capital relief transactions.

Jean-Paul Conoscente, CEO of P&C at SCOR, comments: “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.”

January 2026 P&C Reinsurance Renewals

Demand for reinsurance coverage remains elevated. 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.

P&C Reinsurance book renewed at 1 January 2026(1):

 

  Premiums renewed
(in EUR million)		 Evolution vs. January 2024 Main lines concerned
P&C Lines(2)