Sampo Oyj · OMXHEX:SAMPO
Sampo Oyj — Investor Day (June 2014)
13 slides from Sampo Oyj's investor day presentation, Jun 2, 2014
Slide 1: Sampo Group Capital Market Day 2014
Sampo Group Capital Market Day 2014 Peter Johansson, Group CFO 2 June 2014
Slide 2: Q1/2014 results
Q1/2014 results Profit before taxes, EURm EPS and M-to-M EPS, EUR 500 EPS (reported) EPS (comp. result) 1-3/2013 1-3/2014 396 1.00 0.88 400 370 0.80 0.66 300 0.63 0.57 204 194 0.60 200 162 170 0.40 100 36 37 0.20 0 -30 -4 0.00 -100 1-3/2013 1-3/2014 If P&C Mandatum Nordea Holding Sampo Life Group Ne
Slide 3: Sampo Group P&C, life and banking: market shares by country
Sampo Group P&C, life and banking ― Market shares by country, % P&C insurance Life insurance Nordea lending Finland/If 28 Finland/ML 19 35 Finland 30 Finland/ 13 41 Norway Norway/If 24 Nordea 11 Norway/ 14 8 Sweden Nordea 15 Sweden/If 18 24 Sweden/ Denmark 7 17 Nordea Denmark/If 6 22 Denmark/ Estoni
Slide 4: Nordea Purchases 24.8.2005–20.5.2014
Nordea Purchases 24.8.2005–20.5.2014 Number of Average Total dividends Total shares % of shares purchase price Unrealized profit* 2006-2014 return, % Sampo Plc 860 440 497 21,25 % 6,46 € 3 433 180 360 € 1 585 055 896 € 90,30 % 4 *Share price 10,45 €
Slide 5: Nordea Q1/2014, EURm
Nordea Q1/2014, EURm Nordea in Sampo Group’s B/S Nordea Q1/2014 Q1/2014 (21.25%) Income statement 1,106 Operating Profit Acquisition price 5,557.3 -266 Income tax expense 840 Net profit from Retained earnings 1,428.3 continuing operations Accumulated other changes in Nordea’s equity -79.5 -9 Net pro
Slide 6: Topdanmark has been a great investment
Topdanmark has been a great investment Sampo’s Topdanmark purchases 16.11.2007-20.5.2014 Topdanmark • Acquisition price in Sampo Group’s accounts EURm 330 (in If’s accounts EURm 310) • Book value in Sampo Group’s accounts EURm 369 • Market value EURm 703 (DKK 166.7/share, 21 May 2014) Sampo Group’s
Slide 7: Suomi Mutual and group pension portfolio
Suomi Mutual and group pension portfolio • Suomi Mutual operates as a run-off life insurance company, no new policies sold since 1.1.2005. Total technical provisions EUR 5.2 billion, number of policies 200,000. • Suomi Mutual expressed interest to transfer its group pension portfolio to Mandatum Lif
Slide 8: Balance sheet of segregated fund after transfer
Balance sheet of segregated fund after transfer Expense Reserve: Expected future expenses 22 EURm Future Bonus Reserve Distributed to p/h in normal circumstances (FBR): 133 EURm Buffers shareholder losses in stress scenarios Longevity Reserve: Supplementary reserve for longevity risk 85 EURm
Slide 9: 10Y government bond yield; Group Pension insurance savings
10Y government bond yield Group Pension insurance savings 3.5 3.5 12/2013, EUR 5,654m Mandatum Life U-L, 3.0 3.0 442, 8% Norway Other, 2.5 2.5 2074, 37% Mandatum % 2.0 Sweden 2.0 Life W-P, 2311, 41% Finland 1.5 1.5 Denmark Suomi Mutual, 1.0 1.0 826, 14% 2013 2014 Source: Reuters EcoWin 9
Slide 10: Mandatum Life unit-linked and with-profit liabilities
Mandatum Life Unit-linked and with-profit liabilities EURm 5,000 4,749 4,500 4,000 3,500 3,885 3,000 2,500 2,000 1,500 1,000 500 0 10 Unit-linked liabilities With-profit liabilities
Slide 11: Mandatum Life with-profit technical reserves
Mandatum Life with-profit technical reserves EURm Reserve for decreased discount rate 4,300 4,229 4,200 2011 Q1/2014 108 4,100 Long term 79 75 4,000 Short term 29 83 3,867 Total 108 158 3,900 3,800 158 Δ +50 4,121 3,700 3,600 Δ -412 3,709 3,500 3,400 2011 Q1/2014 11
Slide 12: Capitalization
Capitalization 5044 EXPECTED RISK SAMPO GROUP EUR m REGULATORY BASED INTERNAL CAPITAL 10,000 FRAMEWORK ASSESSMENTS 9 697 Liability side adj. 346 9,000 Fair value reserve Vol a tile 8 794 pa rt 1026 Mandatum, EC 8,000 Equalization prov. 120 % * ∑ EC 401 1 121 7,000 6 241 ∑ EC If 6,000 5 555 Mandatum
Slide 13: Sampo Group Capital Market Day 2014
Sampo Group Capital Market Day 2014 Peter Johansson, Group CFO 2 June 2014