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  "documentTitle": "Elliott Management Sampo Group Presentation November 2020",
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  "notes": "Uses a causal chain logic (Concentration + Distribution Resistance = Low COR).",
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      "text": "Concentrated, stable market structures; High barriers to entry; This results in stable and consistently lower CORs relative to other European markets",
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      "text": "1) Source: Goldman Sachs Report; 2) Source: ABI for UK, est. for Sweden; 3) Source: Country Industry Associations; 4) Source: Proprietary survey",
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      "text": "~60% of Sweden home insurance customers and ~40% of motor insurance customers have had the same insurer for 7+ years",
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      "text": "Nordic markets are highly stable and have the lowest COR in Europe",
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      "text": "IF P&C OPERATES IN THE BEST MARKETS IN EUROPE",
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