Sampo Group's interim report for January - March 2013

SAMPO PLC             STOCK EXCHANGE RELEASE    8 May 2013 at 9.30 am

Sampo Group's interim report for January - March 2013

STAYING THE COURSE

Sampo Group's profit before taxes for the first quarter of 2013 amounted to EUR 370 million (370). The total comprehensive income for the period, taking changes in the market value of assets into account, decreased to EUR 490 million (659).

• Earnings per share amounted to EUR 0.57 (0.57) and mark-to-market EPS was EUR 0.88 per share (1.18). The return on equity for the Group amounted to 19.1 per cent for the period (28.7).
• Net asset value per share reached an all-time high of EUR 21.03 (17.38). The fair value reserve after tax on the Group level increased to EUR 846 million (749).
• P&C insurance operations reported best ever first quarter combined ratio of 90.9 per cent (91.7). The profit before taxes was EUR 204 million (198). Mark-to-market result amounted to EUR 279 million (328) and return on equity to 39.2 per cent (52.1).
• Nordea is accounted for as an associated company. Sampo's share of Nordea's profit for the first quarter of 2013 was EUR 162 million (158).
• Profit before taxes for the life insurance operations increased to EUR 36 million (33) as EUR 20 million was used to lower the discount rates for the with profit portfolios further. The mark-to-market result decreased to EUR 66 million (172). The return on equity at market value amounted to 22.4 per cent (72.3).

             

KEY FIGURES	1-3/	1-3/	Change,
EURm	2013	2012	%
Profit before taxes	370	370	0
P&C insurance	204	198	3
Life insurance	36	33	8
Associates (Nordea)	162	158	3
Holding excl. associates	-30	-19	57
Profit for the period	320	321	0
			Change
Earnings per share, EUR	0.57	0.57	0
EPS, mark-to-market, EUR	0.88	1.18	-0.30
NAV per share, EUR *)	21.03	17.38	3.65
Average number of staff (FTE)	6,787	6,796	-9
Group solvency ratio, % *)	175.8	170.4	5.4
RoE, %	19.1	28.7	-9.6

*) comparison figure from 31.12.2012

The figures in this report are not audited. Income statement items are compared on a year-on-year basis whereas comparison figures for balance sheet items are from 31 December 2012 unless otherwise stated.

Due to the adoption of the revised accounting standard IAS 19 on Employee benefits, the comparison figures for 2012 have been restated and differ from the earlier published figures. The changes concern directly the P&C insurance segment but are consequently reflected in the consolidated items as well.