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Sampo Group's profit before taxes for January-September 2016 amounted to EUR 1,343 million compared to EUR 1,475 million in the comparison period.
- The results were good despite challenging conditions and the insurance technical result was as much as excellent. The combined ratio for If P&C remained unparalleled strong, says Kari Stadigh, Group CEO and President.
The combined ratio in P&C insurance for January-September 2016 amounted to 84.0 per cent including non-recurring items and 86.3 per cent excluding these one-offs. In the comparison period January-September 2015, the corresponding figures were 84.6 and 86.1 per cent.
Other key figures for January-September 2016
Outlook for the rest of 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 a combined ratio of 86 - 88 per cent excluding the release from the Swedish MTPL reserves.
Nordea's contribution to the Group's profit is expected to be significant.
Please find the Interim Statement for January - September 2016 and the Supplementary Financial Information Package at www.sampo.com/result.
An English-language conference call will be arranged at 4 pm Finnish time (2 pm UK time). Please call tel. +44 (0)20 3 043 2003, +46 (0)8 5033 6574, +1 719 457 2086 or +358 (0)9 7479 0361. Confirmation Code: 9535979. The conference call can also be followed live at www.sampo.com/result.
For more information, please contact:
Maria Silander, Communications Manager, tel. +358 10 516 0031
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