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