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Sampo Group's profit before taxes for January-September 2010 rose strongly to EUR 959 million (625). The total comprehensive income for the period, taking changes in the market value of assets into account, was EUR 1,344 million (3,524).
- We report once again a very good result. Our earnings per share, 51 cents, was very good indeed. Our NAV of EUR 16.54 was all-time high, says Kari Stadigh, Group CEO and President.
The increase in net asset value per share was due to sound reported profits, appreciation of Nordea's share price and favorable currency movements.
Fair value reserve after tax on the Group level increased to EUR 630 million (296). Marked-to-market EPS was EUR 2.39 per share (6.05). Return on equity for the Group amounted to 22.3 per cent for the period (75.8).
Combined ratio in the P&C insurance operations for January-September 2010 was 93.0 per cent (92.0). Profit before taxes increased to EUR 519 million (476) and marked-to-market result was EUR 729 million (932). Return on equity amounted to 39.0 per cent (54.0).
Profit before taxes for the life insurance operations amounted to EUR 100 million (85) and marked-to-market result was EUR 228 million (404). Return on equity was 35.2 per cent (116.5).
Profit before taxes for the segment Holding amounted to EUR 343 million (41), of which Nordea's share was EUR 371 million.
Sampo Group is expected to report a good result for 2010 with a continuing good profitability of its insurance operations supported by the share of Nordea's profit.
Please find Sampo Group's complete interim report January-September 2010, video interview with Group CEO and President Kari Stadigh and Supplementary Financial Information on the Internet at www.sampo.com/result.
For more information, please contact:
Maria Silander, Press Officer, tel. +358 10 516 0031
An English-language telephone conference will be arranged on 3 November at 4 pm Finnish time (2 pm UK time). Please call +44 207 162 0025 (Europe) or +1 334 323 6201 (North America). Please be ready to state the conference ID '877782, the conference title 'Sampo plc 2010/Q3 release' and the password 'SAMPO'.
The telephone conference can also be followed from a direct transmission on the Internet at www.sampo.com/result. A recorded version will later be available at the same address.
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