Sampo has increased its stake in the Danish insurer Topdanmark to 33.34%. However, the Finnish company, which has owned more than a 21% stake in Topdanmark for years, offered no premium in making its mandatory offer, preferring to reinforce its ownership only at the right price. This was good news after the modest H1 16 figures with a profit before tax of €893m, down 12% yoy (€477m in Q2 16, -10% relative to Q1 15). THe ROE stood at 10.9% vs. 20.9% a year before. P&C (the Non-Li
26 Sep 2016
Topdanmark to forget low growth?
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Topdanmark to forget low growth?
Sampo has increased its stake in the Danish insurer Topdanmark to 33.34%. However, the Finnish company, which has owned more than a 21% stake in Topdanmark for years, offered no premium in making its mandatory offer, preferring to reinforce its ownership only at the right price. This was good news after the modest H1 16 figures with a profit before tax of €893m, down 12% yoy (€477m in Q2 16, -10% relative to Q1 15). THe ROE stood at 10.9% vs. 20.9% a year before. P&C (the Non-Li