Sampo Oyj Series A

Co. is the parent company of a group engaged in the provision of insurance services and the marketing and sale of insurance policies such as worker's compensation insurance, personal accident insurance, motor vehicle insurance, motor third party liability insurance, fire and other property insurance; and cargo insurance.
  • TickerSAMPO
  • ISINFI0009003305
  • ExchangeNasdaq Nordic Helsinki
  • SectorNonlife Insurance
  • CountryFinland
Håkon Astrup

Fundamentals indicate a strong Q2

Q2 is seasonally the best quarter for Nordic P&C insurers. Combining this with the meaningful rebound in financial markets and potential claims frequency tailwinds from lower activity and benign weather conditions indicates solid Q2 results across the sector. Sampo remains our top sector pick given what we view is an unwarranted valuation discount of If P&C, its key P&C asset, versus its Nordic P&C peers. We have made only limited changes to our 2021–2022 earnings estimates.

Jan Erik Gjerland ...
  • Jonas Bru Lien
  • Mads Thinggaard
  • Magnus Andersson

Sampo - Buy a pan-Nordic non-life player at <3x NAV

Q2’20e PTP of EUR 450m, underlying CR 87.2% Minor estimate revisions ahead of Q2 ~40% upside to TP EUR 42.3 (42.8) - BUY

Jan Erik Gjerland ...
  • Jonas Bru Lien
  • Mads Thinggaard

Sector Report - Nordic non-life: A good place, play its upside

Higher profitability and investment rebound in Q2’20e Still 2.5% LT growth despite potential consumer case We reiterate BUY and our TP of DKK 225

Jan Erik Gjerland ...
  • Jonas Bru Lien
  • Mads Thinggaard
  • Magnus Andersson

Sector Fast Comment - Insurance trip 2020: 15 insurers in three days

Profitability over growth should warrant a benign… …competition and super profit still to be priced in No estimate changes, we favour Sampo, Tryg & STB

With a more favourable environment, SAMPO PLC. improves to Slightly Positive

SAMPO PLC. (FI), a company active in the Property & Casualty Insurance industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date June 5, 2020, the closing price was EUR 32.89 and its potential was estimated at EUR 35.55.

Håkon Astrup

Fundamentals indicate a strong Q2

Q2 is seasonally the best quarter for Nordic P&C insurers. Combining this with the meaningful rebound in financial markets and potential claims frequency tailwinds from lower activity and benign weather conditions indicates solid Q2 results across the sector. Sampo remains our top sector pick given what we view is an unwarranted valuation discount of If P&C, its key P&C asset, versus its Nordic P&C peers. We have made only limited changes to our 2021–2022 earnings estimates.

Jan Erik Gjerland ...
  • Jonas Bru Lien
  • Mads Thinggaard
  • Magnus Andersson

Sampo - Buy a pan-Nordic non-life player at <3x NAV

Q2’20e PTP of EUR 450m, underlying CR 87.2% Minor estimate revisions ahead of Q2 ~40% upside to TP EUR 42.3 (42.8) - BUY

Jan Erik Gjerland ...
  • Jonas Bru Lien
  • Mads Thinggaard

Sector Report - Nordic non-life: A good place, play its upside

Higher profitability and investment rebound in Q2’20e Still 2.5% LT growth despite potential consumer case We reiterate BUY and our TP of DKK 225

Jan Erik Gjerland ...
  • Jonas Bru Lien
  • Mads Thinggaard
  • Magnus Andersson

Sector Fast Comment - Insurance trip 2020: 15 insurers in three days

Profitability over growth should warrant a benign… …competition and super profit still to be priced in No estimate changes, we favour Sampo, Tryg & STB

Jan Erik Gjerland ...
  • Jonas Bru Lien
  • Mads Thinggaard

Sector Fast Comment - Non-life Norway: Market share trends Q1’20

GJF and Fremtind gaining further turf in Norwegian P&C Fremtind winning on all fronts, mixed bag for others We haven’t made any est. chg., but monitor policy growth

Håkon Astrup ...
  • Jesper Ingildsen
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Rune Majlund Dahl

Northern Lights

Christoffer Wang Bjørnsen ...
  • Eivind Sars Veddeng
  • Håkon Astrup
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Niklas Wetterling
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Christoffer Wang Bjørnsen ...
  • Eivind Sars Veddeng
  • Håkon Astrup
  • Jesper Ingildsen
  • Martin Huseby Karlsen
  • Niclas Gehin
  • Ole-Andreas Krohn
  • Rune Majlund Dahl

Northern Lights

Christoffer Wang Bjørnsen ...
  • Håkon Astrup
  • Jørgen Lian
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolai Farstad Olsen
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Christoffer Wang Bjørnsen ...
  • Eivind Sars Veddeng
  • Håkon Astrup
  • Jesper Ingildsen
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Hoang Nguyen
  • Niclas Gehin
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Simen Mortensen

Northern Lights

With a more favourable environment, SAMPO PLC. improves to Slightly Positive

SAMPO PLC. (FI), a company active in the Property & Casualty Insurance industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date June 5, 2020, the closing price was EUR 32.89 and its potential was estimated at EUR 35.55.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Sampo – AGM 2 june 2020

In general, Sampo is in compliance with the Finnish regulations relating to the organisation and procedures of the Annual General Meeting.   Under ITEM 8 the board of directors seeks approval of the allocation of income and dividend. ECGS notes that the board of directors proposes to reduce the dividend per share from EUR 2.85 to EUR 1.50 (-47%). Although the proposed dividend is covered by EPS, in accordance with Sampo's (revised) dividend policy and the Company has a strong balance sheet for an insurance company with an equity (solvency) ratio of 23%, ECGS notes that, EIOPA, the regulatory...

Expert Corporate Governance Service (ECGS)

Sampo April 09th, 2019

In general, Sampo is in compliance with the Finnish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 8b, authorisation is sought to distribute a special dividend of up to EUR 500 million, which corresponds to EUR 0.90 per share. Although the authority requested does not jeopardize the Company's financial position, ECGS does not approve of the motivation provided (i.e. to counter the impacts of expected changes in the Company's capital requirements). Accordingly, ECGS recommends to vote OPPOSE. Under ITEM 12, the (re-)election of the board of d...

Sampo – Proxinvest Corporate Governance Rating ® : D

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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