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Sampo Group's profit before taxes for the fourth quarter of 2017 amounted to EUR 436 million, compared to EUR 528 million in the comparison period. Full-year profit before taxes for 2017 amounted to EUR 2,482 million (1,871).
- Sampo Group's insurance business continued its strong performance in 2017. If's number of customers increased in all markets and was at the end of the year over 3 million, the highest ever. Due to strong results we are able to increase our dividend proposal for the ninth consecutive year already, says Kari Stadigh, Group CEO and President.
If's combined ratio for 2017 was 85.3 per cent. Previous year, the combined ratio amounted to 84.4 per cent.
The Board proposes to the Annual General Meeting to be held on 19 April 2018 a dividend of EUR 2.60 per share. A dividend of EUR 2.30 per share was paid for year 2016. The proposed dividend payment amounts in total to EUR 1,444 million (1,288). The dividend proposal is highest ever.
Other Key Figures for 2017
Outlook for 2018
Sampo Group's business areas are expected to report good operating results for 2018.
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 P&C is expected to reach their long-term combined ratio target of below 95 per cent in 2018 by a margin.
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 2017 and Supplementary Financial Information Package are available at www.sampo.com/result.
Sampo will today arrange a Finnish-language press conference at Savoy, Eteläesplanadi 14 (7th floor), Helsinki, at 12:30 pm Finnish time.
An English-language conference call for investors and analysts will be arranged at 4 pm Finnish time (2 pm UK time). Please call +44 (0)330 336 9104, +1 323 701 0223, +46 (0)8 5033 6573 or +358 (0)9 7479 0360. The conference code is 774043. The conference call can also be followed live at www.sampo.com/result.
For more information, please contact:
Mirko Hurmerinta, IR & Communications Specialist, Media Relations, tel. +358 10 516 0032
The principal media