Sampo's 'crown jewel' If disappoints investors, shares fall

Sampo

02/11/2022 09:16

** Sampo  SAMPO.HE  falls 4.7% after the Finnish insurer's
main segment, If, missed expectations  urn:newsml:reuters.com:*:nL8N31Y24C
    ** Overall the result was healthy and in line with
consensus, but Sampo's crown jewel If fell behind, Inderes
analyst Sauli Vilén told Reuters in a call
    ** The analyst notes that the Q3 underwriting result of EUR
235 million ($232.67 million) for If was softer than consensus
estimates
    ** Analysts in company-provided poll estimated Q3
underwriting result for If to come in at EUR 245 million
        ** The smaller segments exceeded expectations mainly due
to investment income or one-time items, Vilén adds
    ** Share on track for its worst day since May, when it
closed 4.8% lower
($1 = 1.0100 euros)
 (Reporting by Agata Rybska)
 ((agata.rybska@thomsonreuters.com))