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ABGSC Financials Research ... (+4)
  • ABGSC Financials Research
  • Fredrik Flørnes Støle
  • Jan Erik Gjerland
  • Patrik Brattelius
ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Jan Erik Gjerland
  • Patrik Brattelius
ABGSC Financials Research ... (+4)
  • ABGSC Financials Research
  • Fredrik Flørnes Støle
  • Jan Erik Gjerland
  • Patrik Brattelius
ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Jan Erik Gjerland
  • Patrik Brattelius
ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Jan Erik Gjerland
  • Patrik Brattelius
ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Jan Erik Gjerland
  • Patrik Brattelius
ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Fredrik Flørnes Støle
  • Jan Erik Gjerland
ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Jan Erik Gjerland
  • Patrik Brattelius
ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Jan Erik Gjerland
  • Patrik Brattelius
ABGSC Financials Research ... (+4)
  • ABGSC Financials Research
  • Fredrik Flørnes Støle
  • Jan Erik Gjerland
  • Patrik Brattelius
ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Jan Erik Gjerland
  • Patrik Brattelius

Assistance & Personal Safety lead the way

Assistance and Personal Safety lead the way. Underwriting to grow at a CAGR of 4% until 2026. BUY reiterated with unchanged TP of SEK 100.

ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Fredrik Flørnes Støle
  • Jan Erik Gjerland

Insurance trip: 14 insurers in three days

High price increases in non-life = margin expansion; Attractive dividend levels to come from life units; BUY stability from Sampo/Tryg; earnings growth STB/GJF

ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Jan Erik Gjerland
  • Patrik Brattelius

More proof that discount to peers will narrow

Robust Q2 beat, driven by investment portfolio. 2025e-26e top line cut 4-8% from end of Power partnership. Market leader at a discount, reiterate BUY.

ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Jan Erik Gjerland
  • Patrik Brattelius
ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Jan Erik Gjerland
  • Patrik Brattelius

Discount to shrink as growth accelerates

Premium income to pick up in H2'24e. Minor estimate tweaks, attractive earnings scenario intact. TP raised to SEK 100 (90), reiterate BUY.

ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Jan Erik Gjerland
  • Patrik Brattelius

Investment portfolio excels

Robust Q1 beat, driven by investment portfolio. We increase adj. EPS by 0-5% for 2024e-26e. Market leader at a discount, reiterate BUY.

ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Jan Erik Gjerland
  • Patrik Brattelius
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