...Stronger, Less Volatile Financial Performance: Fitch Ratings expects SCOR SE to consolidate its strong earnings in 2026 and 2027. Earnings recovered sharply in 2025 following a series of management actions to strengthen reserve buffers, in-force management and new business, launched as part of the 2024 life and health (L&H) assumption review. SCOR reported continued strong underlying group performance in 1H26, with adjusted net income of EUR409 million in 1H26, corresponding to an annualised return on equity (ROE) of 18.5%, compared with EUR846 million and 19.1% ROE in 2025 (2024: EUR4 million and 0.1%, respectively). P&C remains the main earnings anchor and its performance improved further in 1H26. The SCOR-calculated combined ratio improved to 79.9% (2025: 82.3%; 2024: 86%), while L&H performance was strong, albeit slightly weaker than in 2025. The 1H26 L&H insurance service result was EUR157 million (EUR221 million excluding the Covea arbitration settlement), versus EUR450 million in...
