(News Bulletin 247) – UBS confirms its advice to buy the stock with a price target of 577 Swiss francs following the announcement of the results for the 1st quarter of 2023.
UBS sees results as mixed for Swiss Life with pressure on fee income.
‘Commission income was under pressure due to the decline in transactions in the real estate market. The growth in premiums is due to the integration of the acquisition of elipsLife ‘indicates the analysis office.
Recall that the Group generated premiums of 7.5 billion Swiss francs in the first three months (previous year: 6.9 billion Swiss francs), an increase of 11% in local currency.
The group generated fee income totaling 595 million Swiss francs (previous year: 579 million Swiss francs).
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