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Strategy and Financial Targets

Sampo is on its way to become a pure insurance group with a focus on high-quality P&C insurance operations. Sampo’s Board and Management see the greatest potential for long-term value creation in P&C insurance. In line with its strategic focus, Sampo will reduce its non-insurance holdings over time.

Sampo aims to pay an attractive dividend, which is at least 70 per cent of the Group’s net profit for the year excluding extraordinary items. The part of the dividend that is generated by the Group’s insurance operations is called “insurance dividend” and forms the core of the dividend. The insurance dividend will be progressive and grow in line with P&C insurance earnings.

In addition to the insurance dividend, Sampo is committed to return any excess capital to shareholders that may emerge as the financial investments are disposed of.

Sampo Group’s strategic framework and new financial targets for 2021-2023 were presented in more detail at the Capital Markets Day on 24 February 2021.

Financial targets for 2021-2023

Group P&C insurance operations

  • Ambition to grow underwriting profits by mid-single digit percentage per annum on average from the 2020 level excluding COVID-19 effects
  • Group combined ratio below 86 per cent


  • Combined ratio below 85 per cent


  • Operating ratio* below 88 per cent
  • Calendar year loss ratio** below 76 per cent

*) Calculation formula: (claims + operating expenses + operational D&A)/net revenue excluding investment income
**) Consistent with historical Hastings disclosures, equivalent to If risk ratio.

Group capital management

  • Solvency II ratio 170 – 190 per cent
  • Financial leverage* below 30 per cent
  • Dividend payout ratio at least 70 per cent of net profit excluding extraordinary items
  • Progressive insurance dividend
  • Return excess capital to shareholders

*) Calculation formula: financial debt/(financial debt + IFRS equity)

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Updated 2 Mar 2021