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Sampo Group's profit before taxes for January - March 2018 increased to EUR 445 million compared to EUR 430 million in the comparison period.
- Our insurance businesses performed well with strong underwriting result and good growth in all key areas. However, the market environment was challenging during the first quarter of the year and results were affected particularly by weak Swedish krona, says Kari Stadigh, Group CEO and President.
Other key figures
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 insurance is expected to reach a combined ratio target of 86 - 89 per cent for the full-year 2018.
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.
The interim statement for January - March 2018 and the supplementary financial information package are available at www.sampo.com/result.
An English-language conference call will be arranged at 4 pm Finnish time (2 pm UK time). Please call tel. +44 (0)330 336 9104, +46 (0)8 5033 6573, +1 929 477 0630 or +358 (0)9 7479 0360. The conference code is 381231.
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