SCOR SE Act. Prov. Regpt.

SCR: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	K$	LOCK\|$m	LOCK\|$sL$nKr

Scor: Too Many Changes Have Led to a Negative Halo Around Scor

Henry Heathfield

Jan 21, 2026

Over the past near decade, Scor's financial performance has been volatile at best. This started with the heavy natural catastrophes of hurricanes Harvey, Irma, and Maria, and then the pandemic that resulted in an omission of its dividend. Going forward, we think more consistent performance is key.

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SCOR SE Act. Prov. Regpt.

Scor: Too Many Changes Have Led to a Negative Halo Around Scor

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