Sampo Group's result increased in January - September 2015
(Thomson Reuters ONE) -
SAMPO PLC PRESS RELEASE 5 November 2015 at 9:35 am
Sampo Group's result increased in January - September 2015
Sampo Group's profit before taxes for January - September 2015 amounted to EUR
1,475 million compared to EUR 1,313 million a year earlier. The total
comprehensive income for the period, taking changes in the market value of
assets into account, decreased from EUR 1,099 to EUR 1,031 million during the
same period.
- Sampo Group's insurance operations developed well despite challenges in the
operational environment. If P&C's combined ratio improved to 84.6 per cent,
which is the best-ever January-September combined ratio, says Group CEO and
President Kari Stadigh.
The non-recurring items booked in the second quarter had a positive impact on
the January-September combined ratio. Excluding non-recurring items, combined
ratio for January-September 2015 reached a new record level of 86.1 per cent.
Combined ratio for the comparison period was 87.8 per cent.
- The unit-linked premium income was higher than ever. In addition, the
efficiency in life insurance operations increased and the expense result rose to
an all-time high of EUR 20 million, Stadigh says.
Key figures
* Earnings per share rose to EUR 2.31 (2.05). Marked-to-market EPS decreased
to EUR 1.84 per share (1.96).
* The return on equity (RoE) for the Group decreased to 12.6 per cent (13.6).
* Net asset value per share on 30 September 2015 amounted to EUR 22.77
(22.63).
* The fair value reserve after tax on the Group level decreased to EUR 831
million (1,017).
* Profit before taxes for the P&C insurance operations increased to EUR 756
million (711).
* Sampo's share of the profit of its associated company Nordea for January -
September 2015 amounted to EUR 577 million (501).
* Profit before taxes for the life insurance operations was EUR 132 million
(112).
Outlook for the rest of 2015
Sampo Group's business areas are expected to report good operating results for
2015.
However, the marked-to-market results are, particularly in life insurance,
highly dependent on capital market developments. The very low interest rate
level also creates a challenging environment for reinvestment in fixed income
assets.
The P&C insurance operations are expected to reach their long-term combined
ratio target of below 95 per cent in 2015 and achieve a full-year combined ratio
of 86 - 88 per cent excluding the positive total effect of the Norwegian pension
reform and the change in discount rate for Finnish annuities.
Nordea's contribution to the Group's profit is expected to be significant.
Please find Sampo Group's January - September 2015 Interim Report as well as
Supplementary Financial Information Package at www.sampo.com/result.
An English-language conference call will be arranged at 4 pm Finnish time (2 pm
UK time). Please call +44 (0)20 3194 0552, +1 855 716 1597, +46 (0)8 566 42 702
or +358 (0)9 8171 0495.The conference call can also be followed live at
www.sampo.com/result.
For more information, please contact:
Maria Silander, Communications Manager, tel. +358 10 516 0031
Distribution:
The principal media
www.sampo.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Sampo Oyj via GlobeNewswire
[HUG#1964366]
Unternehmensinformation / Kurzprofil:
Datum: 05.11.2015 - 08:35 Uhr
Sprache: Deutsch
News-ID 432175
Anzahl Zeichen: 4208
contact information:
Town:
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Kategorie:
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