Sampo Group's Interim Report for January-June 2014 - Seite 2

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 2013 unless otherwise stated.

The average EUR-SEK exchange rate used for income statement items for January - June 2014 is 8.9592 and the end of period exchange rate used for balance sheet items is 9.1762.  For January - June 2013 the corresponding exchange rates used were 8.5302 and 8.7773, respectively.

Sampo follows the disclosure procedure enabled by the Finnish Financial Supervisory Authority and hereby publishes its Interim Report attached as a PDF file to this stock exchange release. The Interim Report is also available at www.sampo.com/result.

SECOND QUARTER 2014 IN BRIEF

Sampo Group's profit before taxes for the second quarter 2014 amounted to EUR 465 million (455). Earnings per share rose to EUR 0.71 (0.70). Mark-to-market earnings per share was EUR 0.74 (0.16).

Net asset value per share in the second quarter of 2014 decreased to EUR 23.00 from EUR 24.06 at the end of March 2014. The decrease is explained by the dividend of EUR 1.65 per share paid on 7 May 2014.

P&C operation achieved a second quarter combined ratio of 86.5 per cent (86.7). Profit before taxes increased to EUR 289 million (270). Share of the profits of the associated company Topdanmark amounted to EUR 15 million (18).

Sampo's share of Nordea's second quarter 2014 net profit amounted to EUR 139 million (157). In the second quarter Nordea reported a restructuring charge of EUR 190 million. The Bank's Common equity tier one capital ratio continued to rise and amounted to 15.2 per cent.

Profit before taxes for the life insurance operations rose to EUR 36 million (33). Premiums written grew 18 per cent to EUR 339 million from EUR 288 million at the corresponding period a year ago.

BUSINESS AREAS

P&C insurance

For January - June 2014 profit before taxes for P&C insurance increased to EUR 483 million (473). Combined ratio amounted to 88.3 per cent (88.8) which is the best ever January - June combined ratio. Risk ratio decreased 0.2 percentage points and cost ratio 0.3 percentage points. EUR 5 million (39) was released from technical reserves relating to prior year claims. Return on equity (RoE) rose to 25.1 per cent (21.7) and fair value reserve on 30 June 2014 increased to EUR 561 million (472).