JEAN-PAUL CONOSCENTE Chief Executive Officer of SCOR Property & Casualty WHAT PROGRESS WAS MADE TOWARD THE STRATEGIC GOALS OUTLINED FOR P&C IN THE FORWARD 2026 STRATEGIC PLAN OVER THE COURSE OF 2024? J-P.C. Forward 2026 was launched at a very positive point in the reinsurance market cycle with adequate rates and favorable terms and conditions in most lines after years of softer markets and elevated losses, particularly in NatCat reinsurance. With Forward 2026, we are fully leveraging our global franchise to capitalize on this positive momentum. W e are very pleased with our achievements to date and 2024 has been a particularly successful year: we grew the reinsurance portfolio by more than 15%. H owever, Forward 2026 is not primarily about growth, but about creating value. Already, we have been able to strategically increase our position on targeted placements and segments, putting us significantly ahead of the Forward 2026 targets. We are very pleased with the diversification achieved in 2024 and the excellent P&C results throughout the year. F or 2025, we’ll continue to deliver on our Forward 2026 ambitions, while laying the foundations for the next strategic plan. We expect reinsurance to continue to deliver profitable growth, as evidenced by the very strong January 2025 renewals. SCOR Business Solutions will also have an exciting year under the leadership of Claire McDonald, who joined us in September and will steer our SCOR Business Solutions team through an everchanging environment (page 70). DELIVERING VALUE FOR OUR CLIENTS AND SOCIETIES COMEX INTERVIEW 2024 was a year of strong performance and strategic progress for SCOR P&C with significant growth in certain preferred reinsurance lines such as Decennial, Engineering, and Marine and strong development of Alternative Solutions. The teams are embracing innovative approaches and partnering with other industry players to offer our clients custom solutions that meet their needs while maintaining a forward-looking approach that ensures SCOR P&C is ready for the risks of tomorrow. J-P.C. TRANSFORMING TOMORROW WITH OUR SOLUTIONS 61
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