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Investing.com -- Finnish insurer Sampo Oyj (HEL:SAMPO) on Wednesday reported third-quarter operating results that beat expectations by 5.5%, leading the company to upgrade its growth targets and announce a share buyback program.
The company’s operating earnings per share (EPS) exceeded forecasts by 7.7%, with much of the outperformance coming from better-than-expected investment returns, which beat estimates by 21.0%. This helped offset a slightly weaker underwriting result.
Sampo’s combined ratio was 0.7 percentage points higher than expected due to weaker underlying loss and cost ratio developments across its business segments.
Following strong operating EPS growth of 12% for the first nine months of 2025, Sampo has upgraded its growth target through 2026 from more than 7% annually to more than 9% annually.
The company also announced a €150 million share buyback program following its NOBA IPO, which came earlier than market expectations. This buyback largely explains the 5 percentage point reduction in Sampo’s solvency ratio during the quarter, which came in at 172%, 7 percentage points lower than anticipated.
By segment, Sampo’s Private Nordic unit beat revenue expectations by 1.2%, while Private UK (including brokerage) outperformed by 5.9%. However, Nordic Commercial and Nordic Industrial segments missed revenue forecasts by 2.3% and 7.2% respectively.
The company noted that UK motor pricing has softened in the quarter. While its Hastings unit grew policy count by 2% in the third quarter, this growth may slow in the near term as the business focuses on protecting margins.
Sampo’s net income for the quarter beat expectations by 21.7%, with EPS similarly exceeding forecasts by 21.7%.
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