Sampo Oyj · OMXHEX:SAMPO
Sampo Oyj — H1 2021 Earnings Presentation
79 slides from Sampo Oyj's earnings presentation, Aug 4, 2021
Slide 1: Sampo Group Investor Presentation January–June 2021
Sampo Group Investor Presentation JANUARY – JUNE 2021 4 August 2021 1
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements that reflect management’s current views with respect to certain future events and potential financial performance. Although Sampo believes that the expectations reflected in such forward looking statements are reasonable, no assuran
Slide 3: Sampo Group H1 2021 results
Sampo Group H1 2021 results 4 August 2021 4 August 2021 3
Slide 4: H1 2021: very strong results across all business areas
H1 2021: very strong results across all business areas Excellent financial results driven by outstanding performance in P&C insurance Robust investment result and substantial rise in the Nordea share price EUR 45 million of annual pre-tax benefits identified in Hastings Increase in P&C-focus through
Slide 5: Strong financial results across all Sampo Group operations
Strong financial results across all Sampo Group operations Profit before taxes, EURm P&C underwriting result, EURm Combined ratio, % 1,600 800 +34% P&C Life & holding Nordea If P&C Hastings Topdan. 84% -1.9%-p 1,400 1,343 700 658 82.6% 83% 1,200 600 1,000 489 82% -0.2%-p 500 +24% 800 710 400 341 81%
Slide 6: If P&C combined ratio improved by 1%-point in H1 2021
If P&C combined ratio improved by 1%-point in H1 2021 H1 2021 combined ratio Includes: Weather: ~1%-p headwind YoY COVID-19 effects: ~1%-p. benefit YoY • Best ever H1 underwriting result of EUR 443 million (393) due to good organic premium growth and continued strong profitability • Risk ratio impro
Slide 7: If P&C gross written premiums increased by 7.2% in Q2 2021
If P&C gross written premiums increased by 7.2% in Q2 2021 H1 2021 GWP growth Q2 2021 GWP growth • Good organic growth in H1 (excl. currency effects) of 4.4%, supported by 7.2% GWP growth in Q2 • Strong volume development in all business areas in the quarter, as well as in all countries except Denma
Slide 8: If P&C business momentum H1 2021
If P&C business momentum H1 2021 Dedicated to building long lasting partnerships – proven credibility as insurance partner If P&C market share, new car sales Nordic market new car sales, number of cars +25% 413,000 27% 27% 331,000 26% 2019 2020 H1 2021 H1 2020 H1 2021 4 August 2021 8
Slide 9: If P&C – Continued high retention and strong customer satisfaction
If P&C – Continued high retention and strong customer satisfaction Customer satisfaction, NPS, BA Private Customer retention, BA Private 62 89% 90% 90% 90% 90% 61 60 59 57 2018 2019 2020 H1 2021 Q2 2021 2018 2019 2020 H1 2021 Q2 2021 4 August 2021 9
Slide 10: If's strong capabilities mitigate claims inflation risk
If’s strong capabilities and market position mitigates claims inflation risk Claims cost by segment Continuous approach to pricing and claims inflation • Actively monitoring claims inflation: claims inflation normal overall but elevated in some building material segments; in aggregate, all building
Slide 11: Hastings delivered strong financial performance in H1
Hastings delivered strong financial performance in H1 Underwriting profit (million) • Underwriting profit EUR 101 million - up 15% on a like-for-like basis* 120 +15% 13 EURm 101 100 12 88 • Operating ratio of 76.5%, significantly below the 88% full year target 80 76 66 3.6%-p operating 60 ratio bene
Slide 12: Hastings acquisition: EUR 45m annual pre-tax benefits identified
Hastings acquisition: EUR 45m annual pre-tax benefits identified Area Pricing Claims IT & Digital TOTAL Collaboration & knowledge % of est. benefits per ~30% ~50% ~20% area transfer ~30M EUR (pre-tax benefit on Main theme • Advanced analytics best • Fraud analytics • IT procurement & subsidiary-leve
Slide 13: The Hastings acquisition offers attractive shareholder value
The Hastings acquisition offers attractive shareholder value GBp per share Sampo value levers identified H1 2021 300p ~20 ~60 250 68 ~40 Price paid for Hasting Premium Re-rating effect 1 Collaboration & knowledge Capital management 3 Operational value levers (bid price) (~37.5% to 3M VWAP) transfer
Slide 14: Mandatum: strong capital generation and AUM growth
Mandatum: strong capital generation and AUM growth Mandatum Life solvency II ratio, % Unit-linked and other client assets, EURbn 220% 12 209% 10.4 200% 200% 10 188% 9.2 8.7 182% 180% 176% 176% 8 160% 160% 6 140% 4 120% 2 100% 0 2016 2017 2018 2019 2020 1Q21 2Q21 2019 2020 H1 2021 • Increase in solve
Slide 15: Strong solvency and leverage within target range
Strong solvency and leverage within target range Sampo Group Solvency II ratio, % Sampo Group financial leverage, % 220% 32% Own funds: EURm 12,218 EURm 13,140 SCR: EURm 6,297 IFRS equity: EURm 12,258 EURm 12,742 EURm 6,449 Financial debt: EURm 4,906 EURm 5,058 +17% 209% -8% 210% 30% Target: <30% 20
Slide 16: Sampo is performing ahead of 2021-2023 financial targets
Sampo is performing ahead of 2021-2023 financial targets Financial target H1 2021 result • Mid-single digit growth in UW profit • 12%, adjusting for the Hastings acquisition and annually on average (ex COVID-19 effects) COVID-19 effects in If P&C and Topdanmark • Group combined ratio <86% • 80.7% •
Slide 17: Outlook for 2021
Outlook for 2021 Sampo Group’s insurance businesses are expected to report good insurance technical results for 2021, although the mark-to-market component of investment returns will be significantly influenced by capital markets’ developments, particularly in life insurance. If P&C is expected to r
Slide 18: Sampo Group
SAMPO “> GROUP SAMPO GROUP 4 August 2021 18
Slide 19: Financials
SAMPO “> GROUP Financials 4 August 2021 19
Slide 20: Group Key figures
Group Key figures EURm 1-6/2021 1-6/2020 Change, % 4-6/2021 4-6/2020 Change, % Profit before taxes 1,343 569 136 710 407 74 If 566 383 48 309 254 22 Topdanmark 208 38 442 71 52 37 Hastings 85 - - 38 - - Mandatum 141 39 260 65 55 18 Associates* 369 137 101 150 51 192 Holding (excl. Associates) -26 -2
Slide 21: Profit before taxes and EPS by quarters
Profit before taxes and EPS by quarters EURm EUR 800 710 1.50 632 600 0.99 506 485 1.00 0.82 468 0.73 407 0.66 0.70 400 0.55 0.50 0.26 200 162 92 0.01 0.00 0 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 -0.50 -200 -1.00 -400 -600 -1.50 -
Slide 22: Underwriting
Underwriting 4 August 2021 22
Slide 23: Group underwriting profit and combined ratio development
Group underwriting profit and combined ratio development EURm 1,200 90% 88% 111 1,000 86% 84.6% 182 84.0% 84% 83.4% 800 210 82.6% 202 82% 80.7% 600 101 80% 75 114 78% 96 400 802 682 76% 635 443 74% 200 393 72% 0 70% 2018 2019 2020* 1-6/2020* 1-6/2021 2018 2019 2020* 1-6/2020* 1-6/2021 If Topdanmark
Slide 24: Group underwriting profit and combined ratio 1-6/2021
August 4, 2021 Group underwriting profit and combined ratio 1-6/2021 If Topdanmark Hastings Group GWP, EURm 3,045 684 554 4,283 NPE, EURm 2,341 640 248 3,228 Other Income, EURm 184 184 Total costs, EURm -1,899 -526 -330 -2,754 Underwriting profit 443 114 101 658 Combined ratio, % 81.1 82.2* 76.5** 8
Slide 25: Investments
SAMPO “> GROUP Investments 4 August 2021 25
Slide 26: Sampo Group investments by sector, June 2021
Sampo Group investments by sector, 30 June 2021 If Topdanmark P&C Hastings Mandatum* Sampo plc Sampo Group Money market 11% 7% 18% 13% 59% 18% Fixed income 58% 4% 78% 43% 13% 43% Covered bonds 19% 62% 2% 0% 0% 17% Equities 12% 4% 0% 29% 17% 14% Private equity 0% 0% 0% 6% 11% 3% Real estate 0% 5% 0%
Slide 27: Sampo Group fixed income and equity investment allocation
Sampo Group fixed income and equity investment allocation excluding Topdanmark 30 June 2021 Fixed income, total EUR 16.9 billion Equities, total EUR 3.3 billion By geography By sector By geography By company Europe 16% Money market 24% Scandinavia 41% If 43% money market Banks 23% Finland 18% Mandat
Slide 28: Investment returns excluding Topdanmark and Hastings, January–June 2021
Investment returns excluding Topdanmark and Hastings, January–June 2021 Return, % EURm Mandatum* If Group Mandatum* If Group Fixed income 1.8% 0.9% 1.0% 60 (10) 96 (12) 150 Equities 13.4% 15.5% 13.7% 171 (92) 197 (35) 414 Other (incl. 14.2% -20.7% 15.1% 103 (-1) -2 164 FX net result) Total 6.1% 2.5%
Slide 29: If & Mandatum mark-to-market investment returns
If & Mandatum mark-to-market investment returns If Mandatum 20% 16.8% 15% 12.4 % 11.1% 9.4% 9.2% 10% 7.4 % 7.1% 6.9% 7.2% 6.8% 6.1 % 6.5% 6.5% 5.0 % 4.1 4.6% % 5.0 % 5% 1.8 % 2.9 % 2.6 % 2.3 % 2.5 % 1.5 % 0% -1.4% -0.8 % -5% -3.1 % -2.4% -10% -7.8% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2
Slide 30: Market risk sensitivity of Group investments excluding Topdanmark
Market risk sensitivity of Group investments excluding Topdanmark, 30 June 2021 EURm If Mandatum* Hastings Sampo plc Sampo Group - 10% -143 -138 -1 -51 -334 Equities + 10% 143 138 1 51 334 - 100 bps 147 92 21 28 287 Interest rates + 100 bps -140 -76 -21 -26 -263 - 10% -1 -72 -0.5 -36 -108 Other + 10
Slide 31: Solvency
SAMPO “> GROUP Solvency 4 August 2021 31
Slide 32: Sampo Group Solvency II
Sampo Group Solvency II 220% 209 % 201 % 200% 189% 180% 174% 176% 160% 155% 156% 140% 140% 120% 100% 2016 2017 2018 2019 2020 3/2021 6/2021 6/2021, adjusted* Solvency II ratio Target range for 2021-2023 (170-190%) Column1 *) Dividend accrued linearly over the calendar year based on the 2020 dividend
Slide 33: Sampo Group Solvency II, June 2021
Sampo Group Solvency II, 30 June 2021 EURm 14,000 Solvency ratio 209% 12,000 10,000 322 8,000 -1,170 1,950 -710 -460 128 335 13,140 6,000 4,000 5,902 6,297 2,000 0 Dividends are not accrued linearly over the calendar year 4 August 2021 33
Slide 34: Sampo Group Solvency II, estimated sensitivities on market risk factors
Sampo Group Solvency II, estimated sensitivities on market risk factors 30 June 2021 250% 229% 230% 216% 219% 209% 206% 197% 200% 150% 100% 50% 0% Base case 6/2021 RFR -100 bps RFR +100 bps Spread +100 bps Equity prices -10% Equity prices -20% Equity prices -30% The Solvency II symmetric adjustment
Slide 35: Financial leverage
Financial leverage 4 August 2021 35
Slide 36: Sampo Group financial leverage
Sampo Group financial leverage Total debt, EURm 3,924 4,531 4,616 4,905 5,059 5,058 IFRS equity, EURm 13,508 13,014 12,542 12,258 12,979 12,742 35% 26.9% 28.6% 28.0% 28.4% 30% 22.5% 25.8% 25% 20% 15% 10% 5% 0% 2017 2018 2019 2020 3/2021 6/2021 Senior Sub/hybrid Target for 2021-2023 (<30%) Calculatio
Slide 37: Sampo Group financial debt, June 2021
Sampo Group financial debt, 30 June 2021 Sampo plc If Topdanmark Hastings Mandatum Eliminations* Group, total Sub/hybrid 1,487 554 235 - 349 -320 2,305 Senior bonds 2,435 - - 319 - - 2,754 Total 3,922 554 235 319 349 -320 5,058 *) Mandatum EUR 100 million, If EUR 99 million and Topdanmark EUR 36 mil
Slide 38: Sampo Group debt instruments, June 2021
Sampo Group debt instruments, 30 June 2021 Sampo Plc If Instrument & Principal Coupon Maturity Instrument & Principal Coupon Maturity Senior Bond 360 EURm 1.50% 16 Sep 2021 Subordinated 110 EURm 6.000% 8 Dec 2021 Senior Bond 118 SEKm 0.875% 23 May 2022 Subordinated 500 SEKm 2.415% 1 Dec 2021 Senior
Slide 39: If
If 4 August 2021 39
Slide 40: If combined ratio development
If combined ratio development 90% 85% 88.9% 80% 88.1% 87.7% 86.5% 86.1% 85.3% 85.2% 84.5% 82.1 % 82.1 % 81.1 % 75% 70% 2012 2013 2014 2015 2016 2017 2018 2019 2020 1-6/2020 1-6/2021 Combined ratio Target for 2021-2023 (<85%) Note: 2015 and 2016 excluding one-offs 4 August 2021 40
Slide 41: If results by quarter
If results by quarter EURm Q2/21 Q1/21 Q4/20 Q3/20 Q2/20 Q1/20 Q4/19 Q3/19 Q2/19 Premiums earned 1,189 1,152 1,142 1,141 1,095 1,106 1,108 1,114 1,095 Claims incurred -771 -767 -731 -772 -712 -760 -759 -758 -726 Operating expenses -189 -171 -199 -174 -169 -166 -183 -172 -183 Underwriting result 230
Slide 42: If key figures by quarter
If key figures by quarter Q2/21 Q1/21 Q4/20 Q3/20 Q2/20 Q1/20 Q4/19 Q3/19 Q2/19 Risk ratio, % 58.8 61.0 57.6 62.4 59.3 63.4 62.4 62.5 61.2 Cost ratio, % 21.9 20.5 23.8 20.5 21.2 20.4 22.6 21.0 21.8 Expense ratio, % 15.9 14.9 17.4 15.2 15.4 15.0 16.5 15.4 16.7 Combined ratio, % 80.7 81.5 81.3 82.9 80
Slide 43: If key figures by business area
If key figures by business area 1-6/2021 (1-6/2020) Private Commercial Industrial Baltic GWP, EURm 1,528 (1,404) 909 (868) 520 (493) 87 (81) NPE, EURm 1,408 (1,313) 621 (593) 237 (222) 75 (73) Underwriting result, EURm 319 (311) 90 (88) 10 (-25) 10 (10) Technical result, EURm 320 (313) 93 (91) 11 (-
Slide 44: If key figures by country
If key figures by country 1-6/2021 (1-6/2020) Norway Sweden Finland Denmark GWP, EURm 954 (860) 1,039 (932) 674 (675) 291 (298) NPE, EURm 738 (664) 832 (771) 474 (477) 222 (215) Underwriting result, EURm 118 (65) 206 (224) 92 (70) 4 (16) Technical result, EURm 126 (73) 203 (222) 92 (70) 3 (16) Risk
Slide 45: If key figures by business area
If key figures by business area Q2/2021 (Q2/2020) Private Commercial Industrial Baltic GWP, EURm 788 (711) 230 (197) 185 (168) 42 (38) NPE, EURm 714 (656) 315 (290) 122 (112) 38 (36) Underwriting result, EURm 160 (176) 56 (43) 2 (-14) 5 (5) Technical result, EURm 160 (177) 57 (45) 3 (-13) 5 (5) Risk
Slide 46: If key figures by country
If key figures by country Q2/2021 (Q2/2020) Norway Sweden Finland Denmark GWP, EURm 378 (319) 516 (457) 214 (203) 93 (97) NPE, EURm 377 (325) 421 (389) 241 (238) 112 (107) Underwriting result, EURm 91 (55) 101 (113) 35 (35) -8 (2) Technical result, EURm 94 (59) 100 (112) 35 (35) -9 (2) Risk ratio, %
Slide 47: If GWP quarterly growth by business area
If GWP quarterly growth by business area* Private, growth (%) Commercial, growth (%) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2016 1.1 1.5 0.9 1.3 2016 -0.4 -1.5 0.3 -0.4 2017 1.5 1.9 1.9 2.1 2017 -0.4 2.2 1.8 4.4 2018 2.6 3.9 1.6 0.9 2018 0.8 3.1 8.5 3.1 2019 3.3 3.9 5.9 7.3 2019 1.6 3.3 4.0 5.1 2020 6.4 0.4 4.9 3.
Slide 48: If GWP quarterly growth by country
If GWP quarterly growth by country* Sweden, growth (%) Norway, growth (%) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2016 3.5 3.9 3.2 4.1 2016 -3.0 -1.8 -3.6 -0.6 2017 1.9 3.9 6.1 4.9 2017 0.1 2.7 3.3 5.8 2018 3.7 9.0 2.0 0.9 2018 3.8 4.5 4.7 4.4 2019 3.5 3.0 7.0 8.1 2019 10.6 6.1 10.3 10.9 2020 5.5 3.7 4.8 3.3 2020 9
Slide 49: If P&C – COVID-19 positive combined ratio effect of approx. 3%-points
If P&C – COVID-19 positive combined ratio effect of approx. 3%-points Positive Covid-19 effect Motor claims frequency approximation in percentage points Premium impact 4% 4% • Smaller COVID-19 effect on premiums in the first six months 3% 3% 3% 3% 3% • The impact was primarily within travel and work
Slide 50: If large claims and prior year gains
If large claims and prior year gains EURm Q2/21 Q1/21 Q4/20 Q3/20 Q2/20 Q1/20 Q4/19 Q3/19 Q2/19 Q1/19 Q4/18 Q3/18 Q2/18 Large claims 32 1 4 37 27 20 -13 13 0 4 10 18 -3 (above expected) Prior year gains 48 47 50 33 41 62 31 51 57 51 44 26 53 Prior year gains as % of 4.1% 4.0% 4.4% 2.9% 3.7% 5.6% 2.8
Slide 51: If discount rate development
If discount rate development 2.2% 1.8% 1.20% 1.4% 0.95% 0.75% 0.75% 1.0% 0.6% 0.2% -0.41% -0.72% -0.2% -0.49% -0.77% -0.6% -1.0% -1.03% -1.4% -1.8% -1.59% -2.2% -1.74% -1.89% 2018 2019 2020 2021 4 August 2021 51
Slide 52: Topdanmark
SAMPO “> GROUP Topdanmark 4 August 2021 52
Slide 53: Topdanmark financial highlights
Topdanmark financial highlights (as reported by Topdanmark stand-alone) 2016 2017 2018 2019 2020 1-6/2020 1-6/2021 P&C premiums earned, mDKK 8,858 8,985 9,135 9,397 10,089 4,817 5,042 Life premiums earned, mDKK 7,430 8,525 10,111 11,106 10,981 5,995 5,222 Profit on P&C insurance, mDKK 1,712 1,909 1,
Slide 54: Topdanmark combined ratio development
Topdanmark combined ratio development (as reported by Topdanmark stand-alone) 95% 91.5% 90.3% 90% 88.0% 86.8% 86.5% 86.0% 85.5% 85.1% 85% 83.6% 83.7% 83.6% 82.0% 80% 75% 70% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1-6/2020 1-6/2021 4 August 2021 54
Slide 55: Topdanmark profit before taxes by quarter (consolidated)
Topdanmark profit before taxes by quarter (consolidated) EURm 140 137 120 100 92 82 80 71 65 60 58 60 53 52 45 46 40 34 29 20 0 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 -20 -13 4 August 2021 55
Slide 56: Hastings
SAMPO “> GROUP Hastings 4 August 2021
Slide 57: Hastings financials
Hastings financials HGH* HGH* Impact of HGC* as part of HGC* as part of 1-6/2020 1-6/2021 acquisition Sampo Sampo GBPm GBPm accounting 1-6/2021 1-6/2021 GBPm GBPm EURm Gross written premiums 515 481 481 554 Net earned premiums A 219 215 - 215 248 Other operating income B 171 169 -9 159 184 Total rev
Slide 58: Hastings private car market share development
Hastings private car market share development 9% 8.3% 8.1% 8.3% 8% 7.5% 7.7% 7.3% 7% 6.5% 6% 5.8% 5% 4% 3% 2% 1% 0% 2015 2016 2017 2018 2019 2020 6/2020 6/2021 4 August 2021 58
Slide 59: Mandatum
SAMPO “> GROUP Mandatum 4 August 2021 59
Slide 60: Mandatum profit by components
Mandatum profit by components EURm 1-6/2021 1-6/2020 Net investment income 991 -282 - Transferred to expense result -12 -11 - Return on unit-linked policies -813 312 - Return on with-profit policies* -49 2 Investment result 117 21 Expense result 12 10 Risk result 11 10 Others 3 -2 Asset Management r
Slide 61: Mandatum's profit components
Mandatum’s profit components EURm 300 250 200 192 221 150 178 158 129 107 86 100 117 119 109 102 50 25 33 35 24 27 24 10 14 19 21 5 6 33 31 35 33 35 38 10 25 19 24 23 12 0 10 11 2011 2012 2013 2014 2015 2016 2017 2018 2019 * 2020 1-6/2020 1-6/2021 Risk result Expense result Asset Management Investme
Slide 62: Mandatum unit-linked and other client assets
Mandatum unit-linked and other client assets EURm 10,000 9,000 8,000 7,000 6,000 10,352 5,000 9,192 8,655 4,000 7,260 7,149 6,567 3,000 5,981 5,332 4,617 2,000 3,833 3,124 3,054 2,359 1,000 1,637 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 6/2021 Other client assets added on t
Slide 63: Mandatum Life with-profit liabilities
Mandatum Life with-profit liabilities EURm 6,000 5,000 1,228 1,196 313 311 1,142 372 4,000 377 385 1,065 439 135 244 1,008 439 273 964 499 325 545 232 875 Segregated fund 3,000 547 783 2,843 230 2,831 2,821 556 2,719 570 218 2,598 220 Reserve for decreased 2,475 534 2,000 2,360 513 discount rate 2,2
Slide 64: Holding & other
Holding & other 4 August 2021 64
Slide 65: Sampo plc balance sheet, June 2021
Sampo plc balance sheet, 30 June 2021 Assets total, EURm Liabilities total, EURm 11,304 11,304 Liquidity 1,901 CPs issued 0 Investment assets 908 LT senior debt 2,435 Real estate 2 Private placements 55 Fixed income 37 Bonds issued 2,380 Equity and private equity 869 Subordinated loans* 325 Subordin
Slide 66: Nordea's book value on Sampo Group's consolidated balance sheet
Nordea’s book value on Sampo Group’s consolidated balance sheet, 30 June 2021 Nordea in Sampo Group’s balance sheet EURm Acquisition price 3,106.1 Retained earnings 747,5 Accumulated other changes in Nordea’s equity -78.0 Share of Nordea’s net profit -58.8 Amortization 0 Deferred tax 0 Dividends -45
Slide 67: Sampo Group NAV per share, June 2021
Sampo Group NAV per share, 30 June 2021 EUR 30 24.86 25.37 25 23.79 23.60 22.15 22.63 20.60 20.71 19.82 20 17.38 15 14.05 10 5 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 6/2021 4 August 2021 67
Slide 68: Equity per segment, June 2021
Equity per segment, 30 June 2021 (Topdanmark and Nordea at market value) Nordea book value in Group accounts 3,816 EURm + EURm valuation difference 704 EURm 14,000 1,285 12,000 Topdanmark book value in Group accounts 1,398 EURm 10,000 + 4,520 valuation difference 8,000 446 EURm 1,674 13,106 6,000 47
Slide 69: Sampo Group overview
Sampo Group overview 4 August 2021 69
Slide 70: Sampo's strategy is focussed on P&C insurance
Sampo’s strategy is focussed on P&C insurance P&C insurance: Invest and develop Life & investments: Manage for value ~60% of ~ 40% group GWP: €7bn COR: 83.6% UW profit: €1.1bn group capital earnings Invest to build high quality Nordic and UK private/SME P&C operations Optimise return on capital Priv
Slide 71: P&C Insurance – Market shares
P&C Insurance – Market shares 21% Nordics 2019 If & Topdanmark 21% Tryg 11% Norway Q4/2020 Sweden Q4/2020 LF 10% Gjensidige 26% LF 31% 18% Gjensidige 9% 21% If 18% If 21% RSA Scand. 8% Fremtid 14% Folksam 17% Others 41% Tryg 13% Trygg-Hansa 14% Others 25% Others 20% Finland 2019 21% OP 33% Norway Sw
Slide 72: Sampo plc dividend per share
Sampo plc dividend per share EUR 3.00 2.85 2.60 2.50 2.30 2.15 2.00 1.95 1.65 1.70 1.50 1.50 1.35 1.20 1.15 1.00 1.00 0.80 “Insurance dividend” 0.50 EUR 1.60* 0.00 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 *) Sampo aims to grow the “insurance dividend” in line with the Group’s
Slide 73: Sampo plc's ownership structure
Sampo plc’s ownership structure 30 June 2021 Solidium Oy 7.97%* Varma Mutual Pension Insurance Company 4.01% Ilmarinen Mutual Pension Insurance Company 1.56% Elo Mutual Pension Insurance Company 0.85% The State Pension Fund 0.65% Other domestic owners 23.19% Foreign and nominee registered owners 61.
Slide 74: Sampo Group ESG overview
Sampo Group ESG overview 4 August 2021 74
Slide 75: Allocation of direct investments according to ESG risk categories
Allocation of direct fixed income and equity investments according to the ESG risk categories, Sampo Group excluding Topdanmark and Hastings 30 June 2021 Weighted average ESG risk rating of Sampo Group’s Severe Risk direct fixed income and equity investments (0-100) 18 High Risk 0% 5% Market value o
Slide 76: Examples of Sampo plc's ESG ratings
Examples of Sampo plc’s ESG ratings ESG rating agencies Rating and scale Rating distribution and/or ranking Prime : 17.3 Rating of Sampo plc: 52/100 Percentile rank of Sampo plc: 70 (S&P Global CSA) (Average of respondents: 39/100) 4 August 2021 76
Slide 77: Initiatives and commitments
Initiatives and commitments Sampo Group If Topdanmark Hastings Mandatum Sampo plc 4 August 2021 77
Slide 78: If's strong ESG credentials supported by launch of ESG in underwriting
If’s strong ESG credentials supported by launch of ESG in underwriting • Increased ambition level regarding ESG in investment operations • Sector-based screening and Investments norms-based research implemented • In Q2/2021 If started to • If’s Supplier Code of systematically integrate ESG into Cond
Slide 79: Investor Presentation
Investor Presentation JANUARY – JUNE 2021 Sampo plc Fabianinkatu 27 00100 Helsinki, Finland Phone: +358 10 516 0100 Business ID: 0142213-3 www.sampo.com Sampo_plc sampo_oyj sampo-plc 4 August 2021 79