Sampo reported robust numbers for Q2'22, with excellent performance from the group crown jewel If. The solvency was also clearly stronger than expected, and well above the target level. Analyst Sauli Vilén gives his view on the company’s result, solvency, valuation and recommendation. He also comments on Sampo's possible ownership increase in Topdanmark and what investors could expect regarding dividends/ buybacks going forward.
Videocontent:
00:00 Intro
00:22 An excellent result, that was harder to predict than usual
02:05 If 's outstanding operational performance
04:04 Topdanmark, Mandatum, Hastings: business as usual
05:24 Topdanmark: the price to high for action
07:58 The high level of solvency + plan for the excess capital: buybacks/dividend expectations
11:25 Low risk profile
13:00 Valuation and recommendation
We recommend:
The latest research report, published 2022-08-04:
https://www.inderes.se/research/sampo-expected-return-just-barely-sufficient
Interview with If's CEO Morten Thorsrud, 2022-08-03
https://www.inderes.se/videos/sampo-q222-if-is-in-excellent-shape
The video "Sampo: a Dividend Mashine", published 2022-06-13
https://www.inderes.se/videos/sampo-a-dividend-machine
Read more about Sampo:
https://www.inderes.se/companies/Sampo
Trade. (Sampo)
Sampo Group is a Nordic insurance group with focus on P&C insurance. The Group is made up of the parent company Sampo plc and its subsidiaries If P&C, Topdanmark, Hastings and Mandatum. The parent company Sampo plc is listed in Nasdaq Helsinki. The Group CEO and President is Torbjörn Magnusson.