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Sampo Oyj: Mandatum Life will not prolong the agency agreement with Danske Bank

SAMPO PLC STOCK EXCHANGE RELEASE 20 October 2016 at 2:00 pm

Mandatum Life will not prolong the agency agreement with Danske Bank

In connection with the acquisition of Sampo's banking operations by Danske
Bank A/S in early 2007, Sampo Bank plc (now Danske Bank Plc), and Sampo Life
Insurance Company Ltd (now Mandatum Life Insurance Company Ltd) signed an
agency agreement that guaranteed Sampo Life the exclusive right to sell life
and pension insurance products through Sampo Bank's branch network in

Mandatum Life has decided not to prolong the agency agreement as of 31
December 2016. In relation to the agency agreement Mandatum Life has the
right to sell the insurance portfolio sold through Danske Bank's branch
network in Finland, to Danske Bank. Mandatum Life will decide by the end of
October 2016 whether it will use this option.

In case Mandatum Life will use its option the valuation of the portfolio will
be conducted by a third party in accordance with the terms and conditions of
the bank transaction agreement referred to above. The valuation is estimated
to take until the summer of 2017 and the transfer of the portfolio is
estimated to take place during the fourth quarter of 2017. The transfer is
subject to regulatory approvals.

The portfolio consists of 151,000 policies and the technical reserves related
to the portfolio amounted to EUR 3,060 million at the end of 2015. The
portfolio accrued premiums of EUR 453 million in 2015 and contains almost
exclusively unit linked and loan insurance products. The amount of with
profit technical reserves is EUR 212 million.

Investor Relations and Group Communications

Further information:

Jarmo Salonen
Head of Investor Relations and Group Communications
tel. +358 10 516 0030


Nasdaq Helsinki
London Stock Exchange
The principal media
Financial Supervisory Authority


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
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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