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2016-02-10

Sampo Oyj: Sampo Group hits record results - strong position on all fronts

SAMPO PLC PRESS RELEASE 10 February 2016 at 9:35 am

Sampo Group hits record results - strong position on all fronts

Sampo Group's profit before taxes for 2015 amounted to a record high EUR 1,888
million compared to EUR 1,759 million a year earlier. The total comprehensive
income for the period, taking changes in the market value of assets into
account, increased to EUR 1,564 million (1,179).

- Sampo Group's profit before taxes improved in all business areas in 2015. If
P&C insurance and Nordea reported highest ever profits before taxes.
Furthermore, in Mandatum Life insurance premiums on own account reached an
all-time high, saysKari Stadigh
, Group CEO and President.

- Combined ratio for 2015 was the best ever in If P&C's history. Combined
ratio for the full year 2015 decreased to 85.4 per cent.

The profit and the combined ratio of the P&C insurance operations contain two
non-recurring items (the reform of the pension system in If Norway and the
lowering of the interest rate used in discounting annuities in Finland). Even
adjusted for non-recurring items the combined ratio was better than ever
before at 86.5 per cent. Combined ratio for the full year 2014 was 87.7 per
cent.

The Board proposes to the Annual General Meeting a dividend of EUR 2.15 per
share. A dividend of EUR 1.95 per share was paid for 2014. The proposed
dividend payment amounts in total to EUR 1.2 billion.

Other key figures for 2015

* Earnings per share amounted to EUR 2.96 (2.75). Mark-to-market earnings per
share increased to EUR 2.79 (2.11).
* The return on equity for the Group increased to 14.0 per cent (10.9).
* Net asset value per share on 31 December 2015 was EUR 23.79 (22.63).
* Profit before taxes for the P&C insurance amounted to EUR 960 million
(931).
* Sampo's share of Nordea's net profit for 2015 amounted to EUR 751 million
(680).
* In life insurance operations profit before taxes rose to EUR 181 million
(163).

Outlook for 2016

Sampo Group's business areas are expected to report good operating results for
2016.

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.

The P&C insurance operations are expected to reach their long-term combined
ratio target of below 95 per cent in 2016 by a margin.

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

Please find Sampo Group's Financial Statements Release for 2015 as well as
Supplementary Financial Information Package at
www.sampo.com/result.

For more information, please contact:

Maria Silander, Communications Manager, tel. +358 10 516 0031

Sampo will today arrange a Finnish-language press conference at Hotel Kämp,
Paavo Nurmi meeting room (Pohjoisesplanadi 29, Helsinki) at 12:30 pm Finnish
time.

An English-language conference call will be arranged at 4 pm Finnish time (2
pm UK time). Please call +44 (0)20 3194 0552, +1 855 716 1597, +46 (0)8 566
42 702 or +358 (0)9 8171 0495. The conference call can also be followed live
atwww.sampo.com/result.

Distribution:

The principal media
www.sampo.com

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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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