Sompo (TSE:8630, Financial) is a major property-casualty insurer in Japan. The end-2019 typhoon season caused widespread damage, which darkened investors’ view of property-casualty insurers, but we are impressed by the company’s efforts to enhance profitability. In our view, Sompo has exhibited strong capital management over time, showing good discipline in the prices it has paid for international acquisitions, providing a healthy dividend and buying back stock.
From First Eagle Global Value Team's fourth-quarter 2019 commentary.
