Sjóvá stock in focus after ISK 17.8 million buyback

Sjóvá-Almennar tryggingar hf. bought 408,000 of its own shares in week 44 for a total of ISK 17.8304 million, according to a Financial Times company announcement published on November 2, 2026. The transactions took place on October 27 and October 30 at prices between ISK 43.60 and ISK 43.80.

Repurchase Program Sets Limits

Sjóvá held 9,464,577 treasury shares before the transactions and 9,872,577 afterward, equal to 0.85 percent of the company's issued shares. The program permits purchases of up to 14 million shares, with total consideration capped at ISK 500 million.

The company expects the repurchase program to end no later than September 12, 2027, unless the maximum share or spending limits are reached earlier. The announcement says the purchases are being carried out under Icelandic company law and European market-abuse rules.

Management Transactions Add Signal

A separate GlobeNewswire announcement dated November 6 said that members of management bought shares following the exercise of stock options. The release listed notifications for Hermann Björnsson, Birgir Viðarsson, Elín Þórunn Eiríksdóttir, Þórður Pálsson and Sigríður Vala Halldórsdóttir.

For investors, the disclosures put capital allocation and insider ownership in focus alongside Sjóvá's recent operating update. The buyback reduces shares available in the market while the stated program ceiling leaves room for further purchases.

Insurance Business Anchors Strategy

Sjóvá provides insurance for individuals and companies in Iceland, including motor, property and liability coverage, and offers advice and claims services through its national branch network. The company was founded in 1918 and is headquartered in Reykjavík.

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