Oddo BHF has reiterated its 'outperform' rating on Scor, with the target price maintained at 36 euros, ahead of the publication of third-quarter net income on November 10, which 'could be impacted by natural disasters'.

According to the research house, the reinsurer should nevertheless continue to improve its underlying profitability, and benefit in particular from continued rate increases in property-casualty (with an improvement in the Group's risk profile), and from rising interest rates.

The strengthening of Scor's financial solidity (including through the reinforcement of its property-casualty provisioning) should contribute to lowering the discount applied to the share compared with its German-listed competitors", adds the analyst.

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