Sampo Group reported a good result again in Jan...
SAMPO PLC PRESS RELEASE 13 August 2014 at 9.35 am
Sampo Group reported a good result again in January-June 2014
Sampo Group's profit before taxes for January-June 2014 amounted to EUR 861 million compared to EUR 825 million a year earlier. The total comprehensive income for the period, taking changes in the market values of assets into account, rose to EUR 790 million (579).
- The result was good overall. An excellent example is the combined ratio for January-June 2014 that was the best ever combined ratio in If's history for the period of January-June, says Kari Stadigh, Group CEO and President.
The combined ratio of the P&C insurance operations in January-June 2014 amounted to 88.3 per cent (88.8).
Other key figures
- Sampo Group's earnings per share in January-June 2014 was EUR 1.34 (1.27).
- The return on equity for the Group was 14.9 per cent (11.6).
- Net asset value per share on 30 June 2014 was EUR 23.00 (22.15).
- The profit before taxes in P&C operations rose to EUR 483 million (473).
- Sampo's 21.2 per cent share of the associate company Nordea's profit was EUR 309 million (319).
- In life insurance operations profit before taxes rose to EUR 73 million (69).
Outlook for the rest of 2014
Sampo Group's business areas are expected to report good operating results for 2014.
However, the mark-to-market results are, particularly in life insurance, highly dependent on capital market developments. The low interest rate level also creates a challenging environment for reinvestment in fixed income assets.
The P&C insurance operations are expected to reach their long-term combined ratio target of below 95 per cent in 2014 and achieve a combined ratio of 88 - 91 per cent.
Nordea's contribution to the Group's profit is expected to be significant.
Please find Sampo Group's results for January-June 2014 as well as a Supplementary Financial Information Package at www.sampo.com/result.
For more information, please contact:
Maria Silander, Press Officer, tel. +358 10 516 0031
Press Conference and Conference call
Sampo will today arrange a Finnish-language press conference at Savoy (Eteläesplanadi 14, Helsinki), at 12.30 pm Finnish time.
An English-language conference call for investors and analysts will be arranged at 4 pm Finnish time (2 pm UK time). Please call +44 203 194 0550, +1 855 269 2605, +46 8 5199 9355 or +358 (0)9 8171 0465. The title for the conference is 'Sampo's Interim Report Q2/2014'. The conference call can also be followed live at www.sampo.com/result.
Distribution:
The principal media
www.sampo.com
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Sampo Oyj via Globenewswire
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