Sampo will publish its Q3 results on Wednesday (November 2). We have made minor revisions to our estimates, mainly related to investment income. At group level the changes remain small. We expect excellent technical performance from Sampo. The share price has continued to rise in the gloomy stock market and the share is finally priced in line with the sum of its parts.

Our target price is also in line with the company’s sum of the parts. Our estimates remain unchanged and we expect stable and good earnings development from Sampo in the next few years. The share’s expected return in the next few years consists of secure and evenly growing dividend flow and a slight discount compared to the sum of the parts. The expected return is not particularly high, but we feel that it is still very sufficient considering Sampo's low risk profile.