2024-07-10 20:51:10 ET
Summary
- Valuation for Sampo is not attractive, with flat or slightly negative earnings and high P/E ratio, leading to a "HOLD" rating.
- Sampo has underperformed the S&P 500, with negative ROR, despite favorable pricing trends and focus on underwriting quality.
- Despite positive performance in 1Q24, severe weather trends impacted Sampo's business areas, particularly in motor insurance.
Dear readers/followers,
Sampo ( OTCPK:SAXPF ) ( OTCPK:SAXPY ) is one of those companies I write about in regular intervals as the quarterly reports and updates come in. It has gone from being a bank holding company/insurance business mix to a pure-play insurance company that unfortunately has underperformed the S&P500 by quite a bit both over the short-term and the long-term.
Thus, I'm fairly happy that I have been "out" of the investment for some time. Since my last article, which you can find here , the company has generated negative ROR during a time when other insurance companies in Europe have done rather well....
Read the full article on Seeking Alpha
For further details see:
Sampo: Waiting For My Entry, A Hold For Now