Analysis

Briefing: Why Hastings is a good fit for Sampo

By 2020-08-13T13:44:00

Good Fit

The £1.7bn proposed takeover of Hastings by a consortium lead by Finnish insurer Sampo was met by surprise by many, but under closer inspection the deal might make a lot of sense for both parties By data insights editor Matt Scott

When Sampo announced it was making a £1.7bn move for Hastings, the general mood was one of surprise.

Sure, many could see the benefits of Hastings cashing in on the deal given the troubles it has faced of late with rising claims inflation dragging down the performance of the highly competitive motor market, but analysts were more perplexed when it came to the reasons why the Finnish insurer wanted to buy.

Delve a little deeper, however, and things begin to make a bit more sense.

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