Here is what I believe to be the best possible Sampo stock analysis, in the style of an Inderes analyst.
Sampo exceeded expectations with its Q2 results, mainly due to investment income, while the profitability of its insurance operations remained strong. In the interim report, it was stated that If P&C’s investment income significantly exceeded forecasts, which was the main reason for the earnings beat.
In the Nordic countries, insurance profitability remained excellent despite being impacted by large claims. Forecast changes remained moderate, but Sampo raised its annual forecast by 4% due to higher-than-expected investment income.
Inderes considers the risk/reward ratio to be neutral, thus maintaining the reduce recommendation and raising the target price to EUR 41