CS names 'positively geared' Gjensidige its top pick among Nordic insurers

Topdanmark A/S

10/01/2022 08:57

** Credit Suisse sees Norway's Gjensidige  GJFG.OL  as the
"most positively geared to key factors" in the Nordic insurance
market, making it its top pick among insurance providers in the
region with an "outperform" rating
    ** The broker says Norway has been the "most attractive
growth market" in Scandinavia with the most interesting P&C
(property and casualty) market, which is set to help Gjensidige
that generates around 80% of its earnings in the country
    ** CS says Finland's Sampo  SAMPO.HE  is more geared to the
new car market than its Nordic counterparts, while Danish Tryg
 Tryg.CO  has "limited further upside from current consensus
levels" (both "neutral")
    ** Topdanmark  TOP.CO  is CS's lowest rated in the market
with "underperform" rating, as the broker says it believes the
Danish company "is still catching up with previous underwriting
issues"

 (Reporting by Marie Mannes)
 ((Marie.mannes@thomsonreuters.com))