Mapfre : Q4/FY 2023 not brilliant but no missteps either…attractive valuation
>Outperform recommendation reiterated - Target price unchanged at € 2.60 - The operational/balance sheet trend was neither brilliant nor marred by missteps at the publication of Mapfre's Q4/FY 2023 results with underlying net profit of € 221m (i.e. in line vs the consensus) – the copy is more mixed in terms of the performance delivered by the two activities (non-life came in below expectations while the life insurance activity fared better) but largely reinforced on t...Mapfre is an insurance company based in Spain. Co. is the parent company of a group engaged in the underwriting and provision of insurance in Spain and abroad. Insurance policies provided include: life, non-life, accident, home-owner, general and health. Through its subsidiaries, Co. is also engaged in the provision of reinsurance, the management of investment funds, pension funds and pension plans, real estate and related services. On the domestic market, Co.'s activities include managing investment funds, pension funds and pension plans, real estate and other service businesses.
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.
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