Inside information

Sampo Group announces financial targets for the 2024-2026 strategic period

SAMPO PLC                        INSIDE INFORMATION          6 March 2024 at 9:20 am

Inside information: Sampo Group announces financial targets for the 2024-2026 strategic period

Sampo Group remains focused on increasing shareholder value by growing underwriting profits and managing capital in a disciplined manner. Sampo’s Board of Directors has today approved a new set of financial targets under which the Group will aim to achieve operating EPS (Op EPS) growth of more than 7 per cent on average over 2024–2026, while maintaining a combined ratio below 85 per cent, and to generate more than EUR 4 billion of deployable capital.

- In the last three years we have completed the transformation of Sampo into a pure P&C insurance group and delivered against our Group-level financial targets. Looking ahead, we aim to leverage our unique position as the largest P&C insurer in the Nordics, and a leader in digital retail P&C insurance in the UK, to deliver attractive earnings growth. We expect digital sales to support attractive premium growth across private property insurance, personal insurance, UK motor insurance and SME, and to enable us to extend our 14-year track record of annual productivity improvements, says Group CEO Torbjörn Magnusson.

- We will continue to be disciplined stewards of shareholders’ capital, as we have been in the 2021–2023 strategic period, during which we returned EUR 7 billion through dividends and buybacks. Our M&A appetite remains limited to bolt-on transactions in markets where we are already present, says Magnusson.

Sampo management will present the Group’s strategy and financial targets at the Capital Markets Day in London today, starting at 14:00 CET (13:00 UK time). The event is webcast live at www.sampo.com.

Sampo Group’s targets for 2024–2026
Financial targets	Operating EPS growth (period average): >7% Combined ratio (annual): <85% Deployable capital generation: >EUR 4 bn
Capital management framework	Solvency II ratio: 150–190% Financial leverage: <30% Capital optimisation: ≤EUR 1.2 billion deployable capital