07:44 AM EDT, 05/07/2026 (MT Newswires) -- Berenberg on Thursday increased its price target on buy-rated Sampo (SAMPO.HE) to 10.90 euros from 10.85 euros following the company's first-quarter results, which highlighted an operating EPS that topped consensus expectations.

In the first quarter, the Nordic property and casualty insurer reported an operating EPS of 0.13 euro, beating consensus estimates by 15%, on the back of higher-than-expected underwriting profit. Gross written premiums totaled 3.75 billion euros, up from 3.70 billion euros.

For full-year 2026, Sampo expects group insurance revenue to be between 9.6 billion euros and 9.8 billion euros. Group underwriting result is expected to range from 1.53 billion euros to 1.63 billion euros, with the research firm forecasting it to come at 1.57 billion euros.

"Overall, the top-line development was weaker than expected, but management backed its confident outlook by raising both its revenue and underwriting profit guidance for the year. Other key positives were the Danish workers'compensation ruling not requiring a one-off reserving charge, and the EUR350m buyback being above our EUR300m forecast,"Berenberg said.