Sampo Group reports strong results again
(Thomson Reuters ONE) -
SAMPO PLC PRESS RELEASE 9 February 2011 at 9.35 am
Sampo Group reports strong results again
Sampo Group's profit before taxes for 2010 grew strongly and amounted to EUR
1,320 million compared to EUR 825 million a year earlier. Results for all
business areas improved. Total comprehensive income for the period, taking
changes in the market value of assets into account, was EUR 1,807 million
(3,423).
The Board proposes to the Annual General Meeting to be held on 14 April 2011 a
dividend of EUR 1.15 per share (1.00).
- In 2010 our earnings per share increased to almost two euros per share. On top
of this our NAV increased by three euros to 17,79 euros per share, Kari Stadigh,
Group CEO and President, comments the Board's dividend proposal.
Return on equity for Sampo Group was 21.8 per cent (55.7) for 2010. Fair value
reserve on the Group level increased to EUR 736 million (296).
If P&C sustained a high insurance technical profitability in 2010 despite the
difficult winter. Combined ratio was 92.8 per cent for the full year 2010
(92.1). This was the 7th consecutive year of reaching the target of under 95 per
cent combined ratio. If P&C's profit before taxes rose to EUR 707 million (644).
- We have a much lower volatility in our results than our peer group. The main
reasons for this are size, scale and geographical diversification as well as
focus on underwriting excellence, Stadigh says.
Sampo's share of Nordea's net profit amounted to EUR 523 million.
Profit before taxes for Mandatum Life increased to EUR 142 million (121).
Premiums grew almost 40 per cent and exceeded EUR 1 billion for the first time
ever.
Sampo Group's P&C and life insurance operations are expected to report good and
stable results for 2011 and the contribution to profit of associated company
Nordea Bank is anticipated to remain strong. The continuing rise of short term
interest rates will also further strengthen Sampo Group's profits. If P&C is
expected to reach its long-term combined ratio target of below 95 per cent in
2011.
The Financial Statement Release for January-December 2010, Group CEO and
President Kari Stadigh's video interview and supplementary financial information
are available at www.sampo.com/result.
Sampo will arrange a Finnish-language press conference at Savoy, Eteläesplanadi
14 Helsinki (7th floor), today at 12.30 pm Finnish time. An English-language
telephone conference will be held at 4 pm Finnish time (2 pm UK time). Please
call +44 (0) 20 7162 0125 (UK/Europe) or +1 334 323 6203 (North America). Please
be ready to state the conference ID 886644 and the conference title 'Sampo plc
2010/Q4 Release'. The telephone conference can also be followed from a direct
transmission on the Internet at www.sampo.com/result.
For more information, please contact:
Maria Silander, Press Officer, tel. +358 10 516 0031
Distribution:
The principal media
www.sampo.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters 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 Thomson Reuters ONE
[HUG#1486872]
Unternehmensinformation / Kurzprofil:
Datum: 09.02.2011 - 08:35 Uhr
Sprache: Deutsch
News-ID 51253
Anzahl Zeichen: 3889
contact information:
Town:
Helsinki
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 148 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Sampo Group reports strong results again"
steht unter der journalistisch-redaktionellen Verantwortung von
Sampo Oyj (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
