French reinsurer SCOR reported Q3 net income of €80m (267) and net profits for the first nine months of 2018 of €342m. The figures were in contrast to 2017's Q3 loss of €$91mm, a result of losses incurred from natural disasters including Hurricanes Harvey, Irma and Maria. SCOR CEO Denis Kessler said the strong results justified the company's rejection of minority stakeholder Covea's €8.2bn takeover offer last month. SCOR's shares have gained around 15% since the August bid.
French reinsurer SCOR reported Q3 net income of €80m ($91m) and net profits for the first nine months of 2018 of €342m. The figures were in contrast to 2017's Q3 loss of €267m, a result of losses incurred from natural disasters including Hurricanes Harvey, Irma and Maria. SCOR CEO Denis Kessler said the strong results justified the company's rejection of minority stakeholder Covea's €8.2bn takeover offer last month. SCOR's shares have gained around 15% since the August bid.