Report
Carine Maciol

ETHIAS : Yield in excess of 5% over 2033, with a positive credit trend

After a lacklustre 2022, Ethias turned in a solid performance in 2023 with strong organic growth, higher profitability, improved quality of investments and a stronger solvency ratio of 190%. We believe the continuation of this profitable growth in 2024 could lead Fitch to review its opinion. Note that in May 2023, the agency revised its outlook to stable from positive, citing concerns about the impact of inflation on 2023 earnings. We are therefore lifting our credit opinion to P...
Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Carine Maciol

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