Cost of equity over the last 12 months

Insurance Mar 2023 Apr 2023 May 2023 Jun 2023 Jul 2023 Aug 2023 Sep 2023 Oct 2023 Nov 2023 Dec 2023 Jan 2024 Feb 2024 Cost of equity bandwidth Cost of equity average 11,9% 11,7% 11,8% 11,7% 11,9% 11,9% 12,3% 12,4% 12,0% 11,5% 11,6% 11,8%

The WACC takes into account a small firm premium of 3.67% in the cost of equity reflecting a market cap smaller than €500m.

Market multipliers in finance sector over the last 12 months

Insurance Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 0x 3x 6x 9x 12x 15x 18x Price Book Price Earnings
Xavier Suin

Questions?

Xavier Suin

Director
Brussels
Tel.: +32(0)474 75 14 67

Philippe Rasquin

Questions?

Philippe Rasquin

Senior Director
Brussels
Tel.: +32(0)477 61 92 06