Core Viewpoint - Sampo plc is updating its distribution policy to include share buybacks alongside dividends, aiming to enhance shareholder returns while maintaining a strong balance sheet [1][4]. Group 1: Distribution Policy Update - Starting in 2026, Sampo will complement its progressive dividend with share buybacks, which will account for up to one-third of distributions from operating earnings in a typical year [1][4]. - The total volume of capital distributed to shareholders will remain unchanged despite the shift in the mix of capital returned [1][2]. Group 2: Financial Strength and Shareholder Returns - The Board of Directors believes it is appropriate to return around 90% of the Group's operating result to shareholders annually, while increasing the allocation towards share buybacks [2][5]. - Sampo aims to maintain a stable regular dividend per share even in adverse years, ensuring reliable income for shareholders [2][3]. Group 3: Cash Flow and Value Creation - As a leading Nordic and UK retail and SME P&C insurance group, Sampo generates resilient and steadily growing cash flow, which is crucial for shareholder value creation [3]. - The updated distribution policy is designed to provide reliable and growing income through a progressive regular dividend, while also allowing for reinvestment into the Group's long-term prospects via share buybacks [3][4].

转自：最高人民检察院 织密金融"防护网" 托举城市"发展力" 筑牢金融安全屏障，是守护城市经济活力的关键一环。在近日召开的全国检察长会议上，最高检要求依法维护经济金融安全，严惩严重经济犯罪，促进营 造法治化营商环境。 作为全国经济活力突出的地级市，江苏省苏州市的经济发展与金融生态健康紧密相连。苏州市检察机关坚持案件办理、风险化解与深层治理一体推进，办 理新型金融犯罪案件，推动建立金融风险预警、行业监管协同等机制，培育金融领域省级以上典型案例……一系列扎实举措，切实守护金融市场平稳运 行。 穿透数据迷雾 让新型金融犯罪无处遁形 随着数字技术的快速发展，新型金融犯罪形式多样，犯罪行为呈现高隐蔽、产业化、跨域化、专业对抗等特征。"当前，新型金融犯罪已突破传统单一作 案模式，主要表现为以虚拟货币为资金载体、加密通讯为联络手段的技术隐蔽型犯罪。此类犯罪凭借隐匿性强、跨境流通快、价值兑换多元等特性，进一 步加剧了资金轨迹的追溯难度，也让犯罪人员的身份信息高度虚化，使得犯罪行为与责任主体看似割裂，给我们查办案件带来全新挑战。"苏州市检察院 经济犯罪检察部副主任范海波告诉记者。 在昆山市检察院办理的一起信用卡诈骗、洗钱案中， ...

Core Insights - Allstate reported $17.27 billion in revenue for Q4 2025, a 3.4% year-over-year increase, with an EPS of $14.31 compared to $7.67 a year ago, indicating strong earnings growth despite missing revenue estimates by 1.43% [1] Financial Performance - The company delivered an EPS surprise of +45.77%, significantly exceeding the consensus estimate of $9.82 [1] - Allstate's shares have returned -3% over the past month, underperforming the Zacks S&P 500 composite, which increased by +0.9% [3] Key Metrics - Auto Insurance Loss Ratio: 58.9%, better than the average estimate of 67.6% [4] - Auto Insurance Expense Ratio: 21.9%, compared to the average estimate of 22.4% [4] - Homeowners Insurance Loss Ratio: 33.2%, significantly lower than the average estimate of 42.2% [4] - Auto Insurance Combined Ratio: 80.8%, outperforming the average estimate of 90.1% [4] - Property-Liability Net Premiums Earned: $14.78 billion, slightly below the average estimate of $14.92 billion, but a +6.1% year-over-year increase [4] - Underwriting Income for Property-Liability: $4.01 billion, exceeding the average estimate of $2.42 billion [4] - Property-Liability Net Investment Income: $814 million, above the average estimate of $786.45 million, reflecting a +7.5% year-over-year increase [4] - Other Revenue in Property-Liability: $541 million, surpassing the average estimate of $513.77 million, with a +9.7% year-over-year change [4] - Corporate and Other Net Investment Income: $52 million, significantly higher than the average estimate of $37.85 million, showing a +116.7% year-over-year increase [4] - Underwriting Income for Homeowners: $1.81 billion, exceeding the average estimate of $1.47 billion, with a +69.4% year-over-year change [4] - Property and Casualty Insurance Premiums Revenue: $15.51 billion, slightly below the average estimate of $15.64 billion, but a +6.3% year-over-year increase [4] - Underwriting Income for Auto: $1.85 billion, significantly higher than the average estimate of $969.33 million, reflecting a +207% year-over-year increase [4]

Market Overview - In January 2026, the equity market experienced a strong start driven by ample liquidity and policy expectations, with major indices showing a pattern of initial gains followed by a pullback, indicating a significant increase in market risk appetite [1][10] - The Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index rose by 3.76%, 5.03%, and 4.47% respectively, with the average daily trading volume in A-shares reaching a historical high of 3.04 trillion yuan, a substantial increase from December [1][10] - The Shanghai Composite Index hit a new high of 4190.87 points, but the momentum was curtailed mid-month due to regulatory adjustments and large-scale redemptions of broad-based ETFs, shifting the market from a "fast bull" to a "structural slow bull" [1][10] Sector Performance - Growth style outperformed value style, with the Sci-Tech 50 index, representing AI computing power and semiconductor equipment, surging by 12.3%, while the CSI Dividend Index only increased by 3.5% [1][10] - The non-ferrous metals sector led the gains with a 22.6% increase, driven by soaring precious metal prices and rising resource prices. The media sector benefited from the improved sentiment in AI marketing and gaming, rising by 17.9%, while the oil and petrochemical sector increased by 16.3% due to geopolitical risks pushing oil prices up [1][10] - The banking sector was the only one to experience a significant decline, dropping by 6.6% due to the impact of large ETF redemptions [1][10] Investment Outlook - In the AI sector, the increasing stock of chips has accelerated the iteration speed of AI models, with a clear trend of model differentiation. The emergence of Clawdbot highlights the strong capabilities of large models and the demand for suitable product forms [3][12] - The non-ferrous metals sector is expected to experience volatility, influenced by geopolitical events and the potential for a shift in monetary policy under the new Federal Reserve chair nomination. Despite short-term corrections, the long-term upward trend for precious and non-ferrous metals is anticipated to continue due to ongoing central bank gold purchases and supply constraints [4][13] Investment Strategy - The company maintains an optimistic outlook for the 2026 equity market while remaining vigilant about potential risk events. A proactive and diversified investment approach is recommended to retain flexibility for timely responses [5][14] - Key focus areas include AI-driven technological innovation, which is expected to continue evolving rapidly, and the infrastructure supporting AI applications, such as GPUs and power supply [5][14] - The insurance sector is highlighted for its growth potential due to rapid increases in liabilities and sustainable investment returns [6][14] - There is a positive long-term outlook for gold, copper, aluminum, and rare metals, with caution advised regarding short-term price reactions in futures and stock prices [6][14] - Continued attention is recommended for the lithium battery supply chain, internet, gaming, and offshore wind industries [7][15]

Financial Performance - Everest Group reported $4.42 billion in revenue for the quarter ended December 2025, reflecting a year-over-year decline of 4.6% [1] - The EPS for the same period was $13.26, a significant improvement from -$18.39 a year ago [1] - The reported revenue exceeded the Zacks Consensus Estimate of $4.31 billion, resulting in a surprise of +2.69% [1] - The company experienced an EPS surprise of -0.75%, with the consensus EPS estimate being $13.36 [1] Key Metrics - The total loss ratio for reinsurance was 63.6%, slightly above the average estimate of 61% from three analysts [4] - The combined ratio for reinsurance was reported at 91.2%, compared to the average estimate of 88.9% [4] - The total loss ratio for insurance was 81.5%, significantly higher than the estimated 71.9% [4] - The combined ratio for insurance was 117%, compared to the average estimate of 102.1% [4] - Net investment income was $562 million, surpassing the average estimate of $456.36 million, marking an 18.8% increase year-over-year [4] - Premiums earned were $3.86 billion, slightly below the average estimate of $3.95 billion, representing a -1.6% change year-over-year [4] - Net premiums earned in insurance were $946 million, exceeding the average estimate of $938.22 million, reflecting a +5.1% change year-over-year [4] - Net premiums earned in reinsurance were $2.9 billion, below the average estimate of $2.98 billion, indicating a -2.9% change year-over-year [4] Stock Performance - Shares of Everest Group have returned -0.8% over the past month, while the Zacks S&P 500 composite increased by +0.9% [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Core Insights - MetLife reported $24.19 billion in revenue for Q4 2025, a year-over-year increase of 22.6%, with EPS of $2.58 compared to $2.08 a year ago [1] - The revenue fell short of the Zacks Consensus Estimate of $30.04 billion, resulting in a surprise of -19.47%, while the EPS exceeded expectations by 9.32% [1] Financial Performance Metrics - Adjusted Revenue from Asia's net investment income was $1.41 billion, exceeding the estimated $1.38 billion, reflecting a 12.3% year-over-year increase [4] - Adjusted Revenue from Latin America's premiums reached $1.44 billion, surpassing the $1.24 billion estimate, marking a 31.4% year-over-year growth [4] - Adjusted Revenue from Asia's premiums was $1.22 billion, slightly below the $1.23 billion estimate, showing a 1.3% year-over-year increase [4] - Adjusted Revenue from EMEA's premiums was $679 million, exceeding the $627.25 million estimate, with a year-over-year change of 19.5% [4] - Total revenue from net investment income was $5.92 billion, above the $5.5 billion estimate, representing a 9.6% year-over-year increase [4] - Other revenues amounted to $737 million, surpassing the $661.92 million estimate, with a year-over-year change of 15% [4] - Universal life and investment-type product policy fees generated $1.27 billion, slightly above the $1.26 billion estimate, reflecting a 4.2% year-over-year increase [4] - Total adjusted revenue for Group Benefits was $6.65 billion, slightly below the $6.71 billion estimate, with a year-over-year change of 2.3% [4] - Adjusted Revenue for Retirement & Income Solutions from universal life and investment-type product policy fees was $104 million, exceeding the $98.69 million estimate, marking a 5.1% year-over-year increase [4] - Adjusted Revenue for Retirement & Income Solutions from net investment income was $2.23 billion, above the $2.19 billion estimate, reflecting a 4% year-over-year increase [4] - Adjusted Revenue for Retirement & Income Solutions from other revenues was $75 million, surpassing the $62.52 million estimate, with a year-over-year change of 23% [4] Stock Performance - MetLife's shares have returned -5.3% over the past month, while the Zacks S&P 500 composite increased by 0.9% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance compared to the broader market in the near term [3]

Market Overview - The Dow Jones Industrial Average is up 274 points, with most sectors showing gains except for technology [1] - The VIX is currently at 18.26, indicating ongoing market volatility [1] Economic Outlook - There is optimism for 2026, driven by an accelerating economic environment and a Federal Reserve that may ease rates [2] - The market is expected to broaden, with participation from small caps and a wider range of industries [3] Key Growth Areas - Industrials are identified as a key growth area, influenced by trends such as data center buildouts, power grid improvements, and increased defense spending [5][6] - The reshoring of manufacturing across various sectors, including technology, healthcare, and consumer goods, is expected to drive downstream spending [6] Market Predictions - The year-end target for the S&P is projected to be around 7500, indicating a good year ahead but not extraordinary [7] - Small cap stocks are anticipated to see significant gains, potentially 20-25%, as their earnings growth outpaces larger peers [7] AI and Mega Trends - AI is viewed as a mega trend comparable to an industrial revolution, with significant implications for various sectors [8][9] - Companies supplying essential services and components for AI infrastructure, such as data centers and semiconductors, are expected to benefit from this growth [10] Company Highlights - Patrick Industries is positioned to benefit from improving consumer sentiment and cycles in recreational vehicles and manufactured housing [12] - Sterling Infrastructure focuses on AI, data centers, and power grid projects, expanding its footprint in these areas [14] - Kohoo specializes in semiconductor test and assembly equipment, experiencing an upswing in orders [16] - Xio, a software company in risk management for insurance, has shown strong growth and is gaining market share despite industry controversies [18] Market Dynamics - The MAG Seven companies are recognized for their strong performance, but their earnings growth is slowing [20] - There is a belief that the best investment opportunities lie in smaller, underappreciated companies, as small cap stocks currently represent less than 4% of the overall market [21]

NORTHBROOK, Ill., Feb. 4, 2026 /PRNewswire/ -- The Allstate Corporation (NYSE: ALL) today reported financial results for the fourth quarter of 2025. "Allstate had a terrific year by better serving customers and making protection more affordable," said Tom Wilson, who leads The Allstate Corporation. "We proactively reduced premiums for 7.8 million auto and homeowners insurance customers by an average of 17% through tailored coverage reviews to offset cost inflation. We also improved 69 million customer inter ...

Financial Data and Key Metrics Changes - Adjusted earnings per diluted share increased 0.6% year-over-year to $1.57, excluding the effect of foreign currency [1] - Adjusted book value per share increased 0.5%, with an adjusted ROE of 11.7% and 14.5% excluding foreign currency remeasurement [1] - Overall results for the quarter were viewed as solid [1] Business Line Data and Key Metrics Changes - In Japan, net earned premiums in yen terms declined 1.9%, while underlying earned premiums decreased 1.2% [2] - Japan's total benefit ratio improved to 65%, down 150 basis points year-over-year, with reserve remeasurement gains favorably impacting the ratio [2] - In the U.S., net earned premiums increased by 4%, but premium persistency declined slightly by 10 basis points to 79.2% [4] - The total benefit ratio in the U.S. was 48.6%, up 230 basis points year-over-year, driven by higher claims activity [4] Market Data and Key Metrics Changes - Japan's expense ratio was 22%, up 120 basis points year-over-year, primarily due to sales promotion expenses [3] - U.S. expense ratio was 40.4%, up 10 basis points year-over-year, influenced by timing of spend from previous quarters [4] - Adjusted net investment income in Japan was down 3.9%, while in the U.S. it decreased by 2.8% [3][5] Company Strategy and Development Direction - The company plans to continue focusing on growth initiatives in group life and disability, network dental and vision, and direct-to-consumer segments [4] - For 2026, the company expects underlying earned premiums in Japan to decline by 1%-2% and anticipates a benefit ratio in the 60%-63% range [11][12] - In the U.S., net earned premium growth is expected to be in the lower end of the 3%-6% range, with a benefit ratio forecasted between 48%-52% [12] Management's Comments on Operating Environment and Future Outlook - Management expressed satisfaction with the performance of the investment portfolio, noting no charge-offs for the commercial real estate portfolio [6] - The company has improved its liquidity and capital flexibility, lowering the minimum liquidity balance at the holding company [9] - Capital ratios remain strong, with an estimated combined RBC of 575% and an SMR above 970% [10] Other Important Information - The company repurchased $800 million of its own stock and paid dividends of $303 million in Q4, indicating strong capital management [11] - Adjusted leverage was 21.4%, within the target range of 20%-25%, influenced by currency exchange rates [9] Q&A Session Summary Question: What is the outlook for Aflac Japan's earned premiums? - The company expects underlying earned premiums in Japan to decline by 1%-2% in 2026 [11] Question: How does the company view its expense ratios moving forward? - The expense ratio in Japan is expected to be in the 20%-23% range, while the U.S. expense ratio is anticipated to be in the 36%-39% range [12]

Aflac (NYSE:AFL) Q4 2025 Earnings call February 04, 2026 04:00 PM ET Speaker0Thank you for joining me as I provide a financial update on Aflac Incorporated's results. For the fourth quarter of 2025, adjusted earnings per diluted share increased 0.6% year-over-year to $1.57, excluding effect of foreign currency in the quarter. In this quarter, remeasurement gains on reserves totaled $36 million, reducing benefits. Variable investment income ran $12 million below our long-term return expectations. Adjusted bo ...