October 24, 2018 / 5:41 AM / 25 days ago

Reinsurer Scor's Q3 profit rises

PARIS, Oct 24 (Reuters) - French reinsurer Scor, which rejected a 8.2 billion euro ($9.4 billion) bid from rival Covea last month, reported a higher third-quarter profit and said it was on track to meet its financial and strategic targets.

Scor said its third quarter net income had risen to 80 million euros, compared with a loss of 267 million euros a year ago, when earnings were hit by the impact of natural disasters.

Covea, which already owns about 8.5 percent of Scor, offered in late August to pay 43 euros per Scor share, valuing the company at about 8.2 billion euros. However, Scor Chief Executive Denis Kessler rejected the offer citing it was too low.

$1 = 0.8718 euros Reporting by Sudip Kar-Gupta; Editing by Vyas Mohan

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