SCOR has renewed its contingent capital program with J.P. Morgan SE for 3 years, providing the Group with up to EUR 300 million in additional capital in case of extreme events or a significant drop in share price. The program is based on the issuance of share subscription warrants that will be automatically exercised under specific conditions. The coverage period is from January 1, 2026, to December 31, 2028. The maximum dilution is capped at 10% of the share capital. J.P. Morgan SE will sell the new shares after exercising the warrants, with 75% of any profit shared with SCOR. The program has no impact on SCOR’s 2025 accounts.

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