Sampo Group’s results for January–March 2022 – QNT Press Release


SAMPO PLC INTERIM STATEMENT 4 May 2022 at 9:35 am

Sampo Group’s results for January–March 2022

  • Group P&C premiums grew by 7 per cent, supported by strong development in If P&C and Hastings.
  • The Group combined ratio increased to 83.5 per cent (81.2), driven mainly by lower COVID-19 effects. Underlying margin development in If remained positive.
  • Underwriting profit amounted to EUR 290 million (317). Excluding COVID-19 effects reported in the first quarter of 2021, underwriting profit increased 4 per cent.
  • Profit before taxes declined to EUR 566 million (632), while earnings per share increased to EUR 0.86 (0.82).
  • Group Solvency II coverage including dividend accrual increased to 200 per cent (185), above the 170-190 per cent target, supported by a 6 percentage point benefit from higher interest rates.
  • A new EUR 250 million share buyback programme was launched in March 2022, following the completion of the previous EUR 750 million programme.

Key figures

EURm 1–3/2022 1–3/2021 Change, %
Profit before taxes 566 632 -10
If 283 257 10
Topdanmark 37 137 -73
Hastings 2 46 -95
Mandatum 80 76 5
Holding 164 115 42
Profit for the period 483 526 -8
Underwriting profit 290 317 -8
Change
Earnings per share, EUR 0.86 0.82 0.04
EPS (based on OCI) EUR -0.12 1.39 -1.51
RoE, % -2.1 26.0 -28.1

The figures in this report have not been audited.

Sampo Group financial targets for 2021-2023
Target 1-3/2022
Group Mid-single digit UW profit growth annually on average (excluding COVID-19 effects) -8% (4% excluding reported COVID-19 effects in Q1/2021)

Full story available on Benzinga.com



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