Sampo Oyj: Good year for Sampo Group, dividend proposal increases for the tenth year in a row

SAMPO PLC PRESS RELEASE 7 February 2019 at 9:25 am

Good year for Sampo Group, dividend proposal increases for the tenth year in a row

Sampo Group's profit before taxes for the fourth quarter of 2018 amounted to EUR 451 million, compared to EUR 436 million in the comparison period. Full-year profit before taxes for 2018 amounted to EUR 2,094 million (2,482).

- Sampo Group's insurance business, once again, reported excellent results and the number of customers increased in all markets for the second year in a row. Sampo's Board of Directors propose that the dividend be increased for the tenth consecutive year, says Kari Stadigh, Group CEO and President.

If's combined ratio for 2018 was 85.2 per cent. Previous year, the combined ratio amounted to 85,3 per cent.

The Board proposes to the Annual General Meeting to be held on 9 April 2019 a dividend of EUR 2.85 per share. A dividend of EUR 2.60 per share was paid for year 2017. The proposed dividend payment amounts in total to EUR 1,583 million (1,444).

Other Key Figuresfor 2018

• Sampo Group's total comprehensive income for the period, taking changes in the market value of assets, was EUR 1,034 million (2,146). The comparison figure contains a positive non-recurring item of EUR 706 million because of the change in Topdanmark's accounting treatment.
• Earnings per share was EUR 3.04 (3.96). Mark-to-market earnings per share was EUR 1.70 (3.79).
• Return on equity for the Group amounted to 7.5 per cent (17.1).
• Net asset value per share was EUR 20.60 (25.37).
• Profit before taxes for If segment increased to EUR 848 million (818).
• Profit before taxes for Topdanmark segment was EUR 199 million (848). The comparison figure contains a positive non-recurring item of EUR 706 million because of the change in accounting treatment.
• Sampo's share of Nordea's net profit amounted to EUR 625 million (616).
• Profit before taxes for segment Mandatum rose to EUR 450 million (236). The profit includes the non-recurring contribution of EUR 197 related to co-operation agreement with Danske Bank.

Outlook for 2019

Sampo Group's business areas are expected to report good operating results for 2019.

However, the mark-to-market results are, particularly in life insurance, highly dependent on capital market developments. The continuing low interest rate level also creates a challenging environment for reinvestment in fixed income instruments.

If is expected to reach a combined ratio of 86 - 90 per cent in 2019.

With regard to Topdanmark reference is made to the profit forecast model that the company publishes quarterly.

Nordea's contribution to the Group's profit is expected to be significant.

Sampo Group's Full-year Financial Report 2018 and Supplementary Financial Information Package are available at www.sampo.com/result (http://www.sampo.com/result).

Sampo will today arrange a press conference at Restaurant Palace (10^th floor), Eteläranta 10, Helsinki at 1:00 pm Finnish time. Languages used at the press conference are English and Finnish.

To attend the press conference and for interview requests please contact Mirko Hurmerinta via e-mail, [e-mail] (mailto:[e-mail])

The press conference can also be followed as a live webcast at www.sampo.com/result (http://www.sampo.com/result). A recorded version will later be available at the same address.

An English-language conference call for investors and analysts will be arranged at 5 pm Finnish time (3 pm UK time). Please call [phone], [phone], [phone] or [phone]. Confirmation code: 69958632#. The conference call can also be followed live at www.sampo.com/result (https://www.sampo.com/investors/financial-information/financial-reports/). A recorded version will later be available at the same address.

For more information, please contact:

Mirko Hurmerinta,
IR & Communications Specialist, Media Relations
tel. [phone]

Distribution:
The principal media
www.sampo.com (http://www.sampo.com/)

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Source: Sampo Oyj via Globenewswire