Highlights:
- Gross written premium (GWP) reaching £306.2 million in 2022, representing a 15% increase from 2021.
- Strong underwriting results with £22.6 million full-year profit and a 90.1% combined ratio.
- Results reflecting SCOR’s strategy of diversification, sustainable growth and focus on high-quality execution.
- Senior hires to strengthen Environmental Impairment Liability and Crisis Management capabilities.
- SCOR’s Specialty Insurance business broadening its distribution capabilities through the Lloyd’s platform.
| GBP (£) millions | 2022 | 2021 | % increase YOY |
| GWP | 306.2 | 265.7 | +15% |
| NWP | 232.8 | 211.5 | +10% |
| Underwriting profit | 20.4 | 13.8 | +48% |
| Total comprehensive income | 22.6 | 14.1 | +60% |
| Combined ratio (%) | 90.1 | 92.5 |
Gross written premium (GWP) forecast increased to £390.0 million for 2023, from £306.2 million in 2022 and £265.7 million in 2021.
SCOR also announces the further build out of its Environmental Impairment Liability (EIL) practice with the appointment of Yvonne Ledger and Kate Carrett as senior underwriters, effective March 20 and May 15, 2023, respectively. Yvonne and Kate will report to Emma Bartolo, Global Segment Lead for EIL.
In addition, SCOR announces the appointment of Kayley Stewart as senior underwriter in the Crisis Management team, effective September 11, 2023. Kayley will report to David Guest, Global Line Head of Crisis Management.
Chris Beazley, CEO of SCOR UK and the SCOR Syndicate, said: “We have delivered another set of strong results building on the momentum from the past few years. This demonstrates the success of our strategy to diversify the business, to prioritise high-quality execution and to deepen our integration into the wider SCOR Specialty Insurance business.
“SCOR’s syndicate platform continues to grow, reinforcing our position as a leading player in specialty insurance, which is enabling us to attract high calibre talent to our team. We remain dedicated to growing sustainably and to leveraging our expertise and strong market presence to provide innovative and tailored solutions to our clients.”
Romain Launay, Deputy CEO of SCOR P&C and CEO of Specialty Insurance added: “Given the increasingly uncertain world our clients face, SCOR’s priority is to be a strong, reliable, and relevant partner. The SCOR Syndicate is an invaluable strategic platform enabling the Specialty Insurance business to leverage a unified London platform and a single pool of top talent to write business in a flexible way and deliver meaningful solutions and excellent service to our clients.”