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Sampo Group's profit before taxes for January - March 2019 increased to EUR 475 million compared to EUR 445 million in the comparison period.
- Both our P&C and life insurance businesses continued their strong performance in the first quarter of the year. After the sharp decline at the end of last year, the rebound in the equity markets supported the marked-to-market results, says Kari Stadigh, Group CEO and President.
Other key figures
Outlook for 2019
Sampo Group's business areas are expected to report good operating results for 2019.
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 85 - 88 per cent for the full-year 2019.
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 2019 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)333 300 0804, +46 (0)8 5664 2651, +1 631 913 1422 or +358 (0)9 8171 0310. The conference code is 77854006#.
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