Glossary
This glossary includes the most essential property and casualty insurance and life insurance terminology as well as financial statements terms used in Sampo Group. Because of different meanings in some cases in property and casualty insurance vs. life insurance, there are two different explations for some of the insurance terms.
You can move from an English word to an equivalent Finnish word by clicking the 'Suomeksi' button on the upper right hand corner of the web page.
P
Principle of fairness
Life insurance company gives possibly a part of its profit as bonuses to its policyholders according to its interpretation of principle of fairness, if company and policyholder have agreed on this and if company's solvency is not endangered by these bonuses. If bonuses are paid, the source of profit is recognized and bonuses are paid according to the source of profit and between different interest rate guarantees. Check the definition for bonuses.