Sampo Group’s results for January-March 2024

SAMPO PLC                        INTERIM STATEMENT          7 May 2024 at 9:50 am

Sampo Group’s results for January-March 2024

• Sampo Group achieved top line growth of 10 per cent on a currency adjusted basis, driven by strong development in all business areas

• The underwriting result decreased to EUR 260 million (292) and the combined ratio increased to 87.1 per cent (84.0), as a result of challenging Nordic winter conditions

• The Group underlying combined ratio improved by 1.1 percentage points and the outlook for 2024 was narrowed to 83–85 per cent (below 85)

• Profit before taxes increased to EUR 465 million (359), supported by strong investment returns and slightly higher discount rates

• Operating EPS was broadly stable at EUR 0.50 (0.51) despite the lower underwriting result

• Solvency II coverage stood at 180 per cent (182), pro forma of demerger-related transactions and including dividend accrual, and financial leverage at 24.6 per cent (25.3)

Key figures

EURm	1–3/ 2024	1–3/ 2023	Change, %
Profit before taxes	465	359	29
If	356	337	6
Topdanmark	63	63	-
Hastings	26	10	178
Holding	20	-45	-
Net profit for the equity holders	343	271	27
Operating result	253	262	-3
Underwriting result	260	292	-11
			Change
Earnings per share (EUR)	0.68	0.53	0.15
Operational result per share (EUR)	0.50	0.51	-0.01