213% 2017 215% 2018 226% 2019 220% 2020 226% 2021 213% 2022 210% 2024 209% 2023 €20.1 B gross written premiums 210% 2024 year-end solvency €4 M net income Supported by a strong fourth quarter where all three businesses returned a profit, SCOR’s full-year results are in the green. Despite the challenges faced, SCOR has demonstrated remarkable resilience and – in many areas of the business – profitable growth throughout 2024. Life & Health (L&H) reported an insurance service result of EUR 119 million in Q4 2024, showing that although the full-year results were impacted by the 2024 assumption review, the underlying business remains strong. We remain committed to our three-step plan established last summer to restore profitability in our new and in-force L&H business and these efforts have already started to bear fruit. Our Property & Casualty (P&C) business consistently performed very well throughout the full year. We have grown in a diversified and profitable manner, with NatCat claims remaining within budget at 9.4%. Additionally, we have built significant prudence in our P&C reserves, achieving this milestone two years ahead of SCOR’s Forward 2026 strategic plan. This is a testament to SCOR’s underwriting discipline in a volatile environment. Investments also had a strong year, delivering consistent and solid returns through our high-quality fixed income portfolio, benefiting from ongoing high reinvestment rates. Our Group solvency ratio stands at 210% at the end of Q4 and remains in the upper part of the optimal range. By successfully absorbing the significant impact of the L&H review, our balance sheet has proven its resilience. With a solid Q4 performance of EUR 233 million, our full year results were positive. 2024 was a challenging year, but our teams remained focused on executing our Forward 2026 strategic plan. We achieved substantial operational improvements in Asset and Liability Management (ALM), capital allocation, risk partnerships, and tech and data. Our teams’ dedication and hard work have paved the way for continued success and growth and our positive fourth quarter shows that all three of our businesses are fit to perform in 2025 and beyond. . €-348 M L&H insurance service result 86.3% net combined ratio SECURING POSITIVE FULL YEAR RESULTS SCOR reports full year profitability through strategic focus and strong fourth quarter 14 ACTIVITY REPORT 2024
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