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Short-term incentives

Short-term incentives are based on the individual employee's contribution to the respective Group company's profitability and on individual performance. The performance criteria and contribution assessment are generally based on an individual performance analysis combined with relevant business unit and/or business area performance as well as with the overall result of the company, the division and/or Sampo Group.

In Sampo plc, employees participate either in an annual short-term incentive program where the maximum payout corresponds to 2-9 months' fixed salary or in an annual profit-sharing program where the maximum payout corresponds to 1 month’s fixed salary. The programs are triggered by the earnings per share (EPS) of Sampo Group needing to be at a certain level for payout to take place. The programs include a personnel fund element, applicable to Finnish employees. In addition to these short-term programs, discretionary one-time cash payments may be used to reward for exceptionally good performance.

In If Group, the majority of the employees participate in an annual profit-sharing program with a fixed maximum payout. Managers and key specialists participate in an annual short-term incentive program where the maximum payout is 10-100 per cent of the annual fixed salary. Both programs are triggered by the net profit of If Group. Sales personnel may participate in annual sales incentive programs, which are capped at a maximum amount. In addition to these short-term programs, discretionary one-time cash payments may be used to reward for exceptionally good performance.

In Mandatum Group, the majority of the employees participate in an annual short-term incentive program where the maximum payout corresponds to 1-12 months' fixed salary. The program is triggered by the net profit of Mandatum Group. The program comprises a group pension plan and a personnel fund element. Sales personnel may participate in annual sales incentive programs. In addition to these short-term programs, discretionary one-time cash payments may be used to reward for exceptionally good performance.

In Topdanmark Group, top executives and key employees participate in an annual short-term incentive program, where the maximum payout is 40 per cent of fixed base salary including pension. Payout is made partly in cash and partly as shares in Topdanmark. In addition, discretionary one-time incentives may be awarded for exceptionally good performance in the form of e.g. cash, shares in Topdanmark, options or other financial instruments. For more information, please see topdanmark.com

In Hastings, all employees are eligible to participate in an annual short-term incentive program, designed to reward employees for the annual performance and contribution. The overall spend on bonuses depends on performance against financial and non-financial targets. The annual profit target forms the basis of the financial target, with threshold and maximum levels. Non-financial targets include a balanced scorecard of objectives related to colleagues, customers, company and community. Individual bonuses are based on individual performance against pre-agreed personal goals. The relative weightings of financial and non-financial objectives, and the maximum individual bonus opportunity varies based on level in the organisation.

Updated 4 Nov 2022