Scor: UBS confirms buy rating

(CercleFinance.com) - UBS confirms its buy rating on the Scor share, maintaining its target price at E36.
4.

Even so, the analyst highlights the decline in EPS and solvency relative to expectations in Q3 2023.

"A lower Solvency with no increase in forward guidance coupled with a quarter EPS miss", UBS says.

Reinsurer Scor reported net income of E147m for Q3 2023, against a loss of E752m a year earlier, giving an annualised RoE of 13.7% (12.5% adjusted).

The quarter was marked by strong claims, weighing on property-casualty and liability (P&C) (re)insurance, a division which, the group says, posted a mixed performance.


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