Sampo Oyj · OMXHEX:SAMPO
Sampo Oyj — Q1 2023 Earnings Presentation
73 slides from Sampo Oyj's earnings presentation, May 10, 2023
Slide 1: Investor Presentation January – March 2023
Investor Presentation January – March 2023 10 May 2023 1
Slide 2: Sampo Group Q1/2023 results
Sampo Group Q1/2023 results 10 May 2023 10 May 2023 2
Slide 3: 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 4: Q1/2023: Good start driven by robust growth and underwriting
Q1/2023: Good start driven by robust growth and underwriting Solid underwriting profit, supported by strong development in Nordic P&C Positive premium development in the Nordics and very strong growth in the UK Resilient net financial result despite adverse interest rate movements Solvency remains a
Slide 5: Good start to 2023 driven by robust growth and solid margins
Good start to 2023 driven by robust growth and solid margins Profit before taxes (P&C operations), EURm P&C underwriting profit, EURm Combined ratio, % 21% -2.2%-p 800 350 88% 692 292 300 86.2 % 600 242 86% 250 359 200 84.0 % 400 84% 277 150 200 100 82% 50 0 0 80% Q1/2022 Q1/2022 Q1/2023 Q1/2022 Q1/
Slide 6: Key developments in Sampo’s P&C operations
Key developments in Sampo’s P&C operations Premium growth and pricing Claims cost development ✓ Rate increases have remained at 5-6% in the Nordics over Q1, ≈ Nordic claims inflation at 4-5%, stable vs Q4 - Commercial & while retention has continued to be high Industrial in upper end of range, Priva
Slide 7: If P&C: GWP increase driven by rate, retention and growth initiatives
If P&C: GWP increase driven by rate, retention and growth initiatives Q1 2023 GWP growth Key developments GWP by Business Area If total 6.1% • Strong GWP growth in the first quarter 2023 (ex. currency Baltic 4% effects) of 6.1% Industrial 16% Private 3.5% • Positive development in all business areas
Slide 8: If P&C: Underwriting profit supported by solid margin development
If P&C: Underwriting profit supported by solid margin development Key developments Q1 2023 combined ratio • Q1 2023 insurance service result of EUR 217 million (197) driven by strong GWP growth and good margins • Continued improvement from targeted rate increases to mitigate claims inflation • First
Slide 9: If P&C: Strong momentum in personal insurance
If P&C: Strong momentum in personal insurance PI GWP (excl. workers comp. EURm) • Positive development by leveraging increased sales capacity as well as updated and improved customer offerings in personal insurance (PI), such as: 720 • Preventive health insurance in Sweden +10% 655 • Mental illness
Slide 10: Hastings: Strong top line development
Hastings: Strong top line development • Stellar currency adjusted GWP growth of 39%, driven by higher average Live customer policies (million) premiums and continued strong momentum in Home insurance 3.2 3.3 3.1 3.1 2.7 2.8 2.6 2.3 • Operating ratio 93.3 %, negatively affected by weather-related eve
Slide 11: Hastings: Increasing quote demand, spikes in weather-related claims
Hastings: Increasing quote demand, spikes in weather-related claims Market quote demand (year-on-year change) New registered claims (rolling 7 days) GIPP GIPP + 1 year 30% 5,500 26% Snow & ice 2023 25% 5,000 20% Snow 2019 10% Snow 2023 15% Storms Dudley & 4,500 Eunice 2022 10% 5% 4,000 0% 1% -4% 3,5
Slide 12: Mandatum: Solid top line growth and strong solvency
Mandatum: Solid top line growth and strong solvency Mandatum Group Solvency II coverage Unit-linked and third-party assets, EURbn 12 188% 192% 266% 284% 11.1 10.8 10.3 2,604 10 9.2 2,532 2,498 2,308 8 1,358 1,230 6 954 880 4 2 2020 2021 2022 Q1/2023 SCR Own funds 0 2020 2021 2022 Q1/2023 • Solvency
Slide 13: Proposed demerger and planned balance sheet restructuring
Proposed demerger and planned balance sheet restructuring Demerger and restructuring plan • Plan to sell stakes in Saxo Bank, Enento and other smaller assets held by Sampo plc to Mandatum in connection with the proposed demerger .The market value of these assets was estimated to EUR ~430 million at
Slide 14: Group performance ahead of financial targets, driven by Nordic P&C
Group performance ahead of financial targets, driven by Nordic P&C Financial target Q1/2023 result • Mid-single digit growth in UW profit • 21% annually on average • Group combined ratio <86% • 84.0% • Mid-single digit growth in UW profit • 10% annually on average • Combined ratio <85% • 82.4% • Cos
Slide 15: Solvency remained strong, leverage supported by IFRS
Solvency remained strong, leverage supported by IFRS 17 Sampo Group Solvency II ratio, % Sampo Group financial leverage, % Own funds: EURm 8,083 EURm 8,359 IFRS equity: EURm 9,543 EURm 10,252 SCR: EURm 3,857 EURm 3,916 Financial debt: EURm 3,288 EURm 3,184 230% 32% Target: <30% 8% -7% 30% 220% 4% -2
Slide 16: Outlook for 2023
Outlook for 2023 Sampo Group’s P&C insurance operations are expected to achieve underwriting margins that meet the annual targets set for 2021–2023. At Group level, Sampo targets a combined ratio of below 86 per cent, while the target for its largest subsidiary, If P&C, is below 85 per cent. Hasting
Slide 17: Sampo Group
Sampo Group 10 May 2023 17
Slide 18: Financials
SAMPO = GROUP Financials 10 May 2023 18
Slide 19: Key IFRS 17/9 accounting considerations for Sampo Group
Key IFRS 17/9 accounting considerations for Sampo Group Slide from IFRS 17 restatement deck • P&C operations use the simplified Premium Allocation Approach (PAA) P&C • Introduction of risk adjustment and discounting of claims operations • Assumptions and methodologies to reflect entity-specific circ
Slide 20: Group key figures
Group key figures EURm Q1/2023 Q1/2022 Change, % Profit before taxes (P&C operations) 359 692 -48 If 337 495 -32 Topdanmark 63 15 320 Hastings 10 21 -52 Holding -45 164 - Net profit for the equity holders 271 773 -65 - of which from life operations 28 199 -86 Underwriting result 292 242 21 EPS, EUR
Slide 21: Profit before taxes and EPS by quarter
Profit before taxes (P&C operations) and EPS by quarter EURm EUR 900 1.80 824 1.66 800 1.60 692 1.42 700 1.40 600 1.20 500 1.00 400 359 0.80 0.75 342 300 0.60 0.53 200 0.40 100 67 0.20 0.14 0 0.00 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Figures for 2022 restated for IFRS 17 but n
Slide 22: Key result movements Q1/2023
Key result movements Q1/2023 Q1/2023 Q1/2022 Comments - PBT driven by solid UW profit of EUR 292 million. Net investment income of EUR 253 million partly offset by lower discount Group PBT rates during the quarter (EUR -61 million) and the unwind of discounting (EUR -60 million), leading to a net fi
Slide 23: EPS and operational result calculation
EPS and operational result calculation EPS calculation Operational result calculation Q1/2023 Q1/2022 EURm Q1/2023 Net profit for the equity holders, EURm 271 773 Profit before taxes (P&C operations) 359 EPS, EUR 0.53 1.42 - Net unrealised gains or losses on investment -89 Operational result, EURm 2
Slide 24: Share buybacks development
Share buybacks development Buyback programmes Buybacks by quarter Announced, Excecuted, Launch Start End EURm EURm Shares repurchased EURm 1. programme 1 Oct 2021 4 Oct 2021 25 Mar 2022 750 750 Q4/2021 8,539,956 380 2. programme 30 Mar 2022 31 Mar 2022 17 May 2022 250 228 Total 2021 8,539,956 380 3.
Slide 25: Underwriting
SAMPO = GROUP Underwriting 10 May 2023 25
Slide 26: Top line development
Top line development GWP and other income from insurance contracts Insurance revenue, net EURm EURm IFRS 4 IFRS 17 IFRS 4 IFRS 17 9,000 8,000 8,266 7,337 8,136 7,168 8,000 6,887 7,644 7,000 7,241 1,527 1,010 889 1,313 6,516 830 7,000 1,127 805 1,103 6,000 5,566 1,326 5,737 5,947 5,434 1,255 1,391 1,
Slide 27: Underwriting result and combined ratio development
Underwriting result and combined ratio development Underwriting result Combined ratio EURm IFRS 4 IFRS 17 IFRS 4 IFRS 17 1,400 88% 1,314 1,282 86.2% 104 85.8% 86% 1,200 164 84.6% 1,087 84.0% 84.0% 224 84% 1,031 83.3% 103 1,000 227 128 81.4% 82.1% 892 82% 182 837 800 210 230 80% 202 600 78% 985 891 7
Slide 28: Sampo Group P&C operations – key sensitivities under IFRS 17
Sampo Group P&C operations – key sensitivities under IFRS 17 FY2022 effects from instant change on P&L EURm If Hastings Sampo Group * UW profit Discount rate +100 bps +40 +10 +60 UW profit Discount rate -100 bps -40 -10 -60 Insurance finance income & expense, net Discount rate +100 bps +250 +40 +310
Slide 29: Net insurance liabilities
Net insurance liabilities Q1/2023 EURm If P&C Topdanmark Hastings Sampo Group Liability for remaining coverage, net 1,202 543 197 1,942 Liability for incurred claims, net 5,533 1,388 773 7,693 - of which Risk adjustment 149 34 44 228 Net insurance liability 6,734 1,931 970 9,635 Q4/2022 EURm If P&C
Slide 30: Investments
SAMPO = GROUP Investments 10 May 2023 30
Slide 31: Sampo Group P&C operations’ investment mix, March 2023
Sampo Group P&C operations’ investment mix, 31 March 2023 If Topdanmark Hastings Sampo plc Sampo Group Money market 3% 19% 16% 68% 19% Fixed income 63% 3% 82% 3% 44% Covered bonds 23% 69% 0% 0% 24% Equities 12% 3% 0% 1% 8% Private equity 0% 0% 0% 27% 5% Real estate 0% 3% 0% 0% 1% Other 0% 1% 2% 0% 0
Slide 32: Sampo Group P&C operations’ net investment income Q1/2023
Sampo Group P&C operations’ net investment income Q1/2023 EURm If P&C Topdanmark Hastings Holding Eliminations Sampo Group Fixed income 82 10 5 7 -3 101 Equities 5 1 0 14 0 20 Funds 1 4 0 0 0 5 Interest & dividend income 88 15 6 21 -3 126 Fixed income 45 10 7 -1 0 62 Equities 77 7 0 -46 0 38 Funds 2
Slide 33: Solvency
SAMPO = GROUP Solvency 10 May 2023 33
Slide 34: Sampo Group Solvency II ratio development
Sampo Group Solvency II ratio development Including dividend accrual based on the regular dividend of EUR 1.80 per share for 2022 240% 220% 213 % 210% 208 % 200% 185% 180% 174% 176% 160% 155% 156% 140% 140% 120% 100% 2016 2017 2018 2019 2020 2021 2022 Q1/2023 Q1/2023, adj. Solvency II ratio Target r
Slide 35: Sampo Group Solvency II, March 2023
Sampo Group Solvency II, 31 March 2023 EURm 9,000 Solvency II ratio 213% 8,000 7,000 6,000 296 270 5,000 -953 -571 1,917 -65 21 8,359 4,000 3,000 2,000 3,916 3,002 1,000 0 10 May 2023 35
Slide 36: Sampo Group Solvency II, estimated sensitivities on market risk factors
Sampo Group Solvency II, estimated sensitivities on market risk factors 31 March 2023 213% 208% 218% 208% 217% 218% 214% 200% 150% 100% 50% 0% Base case Q1/2023 RFR -100 bps RFR +100 bps Spread +100 bps Equity prices -10% Equity prices -20% Equity prices -30% Symmetric The Solvency II symmetric adju
Slide 37: Financial leverage
Financial leverage 10 May 2023 37
Slide 38: Sampo Group financial leverage
Sampo Group financial leverage IFRS 4 IFRS 17 Total debt, EURm 3,924 4,531 4,616 4,905 4,210 3,288 3,288 3,184 IFRS equity, EURm 13,508 13,014 12,542 12,258 13,464 9,543 10,178 10,252 35% 22.5% 25.8% 26.9% 28.6% 23.8% 25.6% 24.4% 23.7% 27.2% 30% 25% 20% 15% 10% 5% 0% 2017 2018 2019 2020 2021 2022 20
Slide 39: Sampo Group financial debt, March 2023
Sampo Group financial debt, 31 March 2023 Sampo plc If Topdanmark Hastings Mandatum Eliminations* Group, total Sub/hybrid 1,489 132 148 - 350 -228 1,891 Senior bonds 1,294 - - - - - 1,293 Total 2,783 132 148 - 350 -228 3,184 * Mandatum EUR 100 million held by Sampo plc and Topdanmark EUR 128 million
Slide 40: Sampo Group outstanding debt instruments, March 2023
Sampo Group outstanding debt instruments, 31 March 2023 Sampo Plc Subsidiaries Instrument & Principal Coupon Maturity/call Instrument & Principal Coupon Maturity/call Senior Bond 318 EURm 1.000% 18 Sep 2023 If P&C - Subordinated 1,500 SEKm Stibor 3M + 1.30% 17 Mar 2026 Senior Bond 162 EURm 1.250% 30
Slide 41: If
If 10 May 2023 41
Slide 42: If P&C – key IFRS 17 considerations
If P&C – key IFRS 17 considerations Slide from IFRS 17 restatement deck Under IFRS 17, If’s full claims reserves will be discounted • Increased 2022 PBT under IFRS 17 as full LIC* is discounted, which c40% of enhances the benefit of the rise in interest rates over the year reserves IFRS 4 IFRS 17 •
Slide 43: Combined ratio development
Combined ratio development 90% IFRS 4 IFRS 17 85% 88.9% 88.1% 80% 87.7% 86.6% 86.5% 86.1% 85.3% 85.2% 84.5% 83.9% 82.4% 82.1 % 81.3 % 80.3% 75% 70% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2022 Q1/2022 Q1/2023 Combined ratio Target for 2021-2023 (<85%) 10 May 2023 Note: 2015 and 2016 e
Slide 44: Results by quarter
Results by quarter EURm Q1/2023 Q4/2022 Q3/2022 Q2/2022 Q1/2022 Gross written premiums 1,966 1,084 1,081 1,343 1,923 Insurance revenue, net 1,235 1,257 1,285 1,259 1,222 Claims incurred, net -759 -954 -790 -749 -775 Operating expenses and claims handling costs -259 -291 -279 -263 -250 Insurance serv
Slide 45: Key figures by quarter
Key figures by quarter Q1/2023 Q4/2022 Q3/2022 Q2/2022 Q1/2022 Combined ratio, % 82.4 98.5 83.1 80.3 83.9 Cost ratio, % 21.0 23.1 21.7 20.9 20.5 Risk ratio, % 61.5 75.4 61.5 59.5 63.4 Large losses and severe weather, % -1.6 2.7 2.4 -1.7 1.6 Risk adjustment and other technical 1.6 1.3 0.9 0.8 1.7 eff
Slide 46: Key figures by business area and country
Key figures by business area and country Q1/2023 (Q1/2022) Private Commercial Industrial Baltic Sweden Norway Finland Denmark GWP, EURm 744 (762) 740 (714) 418 (392) 64 (55) 514 (524) 650 (637) 525 (484) 214 (223) Insurance revenue, net, EURm 702 (720) 326 (323) 155 (137) 51 (42) 409 (416) 394 (403)
Slide 47: FX-adjusted GWP quarterly growth by business area and country
FX-adjusted GWP quarterly growth by business area and country Private Commercial Industrial Baltic Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2019 3.3 3.9 5.9 7.3 1.6 3.3 4.0 5.1 11.7 12.6 22.6 38.3 -1.9 2.2 0.1 -0.3 2020 6.4 0.4 4.9 3.6 7.3 4.4 -1.0 -1.5 7.6 13.0 17.7 6.2 6.6 -2.7 3.5 1.9 2021
Slide 48: Number of customers, customer satisfaction and retention in Private
Number of customers, customer satisfaction and retention in Private Number of customers, million Customer satisfaction, NPS Customer retention, % households 3.3 3.3 62 90% 90% 90% 90% 3.2 3.2 61 61 60 2020 2021 2022 Q1 2023 2020 2021 2022 Q1 2023 2020 2021 2022 Q1 2023 10 May 2023 48
Slide 49: Nordic new car sales
Nordic new car sales Number of new cars sold Number of new cars sold If P&C had a market 221,000 878,000 213,000 share of 25% in Q1/2023 208,000 841,000 838,000 199,000 176,000 -3.3% 761,000 158,000 153,000 728,000 692,000 2017 2018 2019 2020 2021 2022 Q1/2017 Q1/2018 Q1/2019 Q1/2020 Q1/2021 Q1/2022
Slide 50: Topdanmark
Topdanmark 10 May 2023 50
Slide 51: Results and key figures by quarter
Results and key figures by quarter EURm Q1/2023 Q4/2022 Q3/2022 Q2/2022 Q1/2022 Gross written premiums 604 221 245 245 597 Insurance revenue, net 318 315 313 315 312 Claims incurred, net -203 -195 -202 -180 -232 Operating expenses and claims handling costs -58 -59 -50 -54 -54 Insurance service resul
Slide 52: Hastings
Hastings 10 May 2023 52
Slide 53: Hastings – key IFRS 17 considerations
Hastings – key IFRS 17 considerations Hastings: additional revenue included in insurance services result Slide from IFRS 17 restatement deck 295 889 • On transition to IFRS 17, certain items, such as internal broker 594 revenue, are moved into insurance revenue Inclusion of internal • As a result, t
Slide 54: Operating ratio and loss ratio development
Operating ratio and loss ratio development Operating ratio Loss ratio 100% 100% IFRS 4 IFRS 4 IFRS 17 IFRS 17 95% 95% 93.3 % 91.3 % 90% 89.7 % 83.7 % 90% 87.5 % 87.4 % 87.2 % 85% 82.6 % 80% 76.5 % 85% 80.3 % 75% 80% 70% 66.1 % 65% 62.2 % 75% 60% 57.2 % 55.0 % 70% 55% 50% 65% 45% 60% 40% 2019 2020 20
Slide 55: Profit before taxes by quarter (consolidated)
Profit before taxes by quarter (consolidated) EURm 80 69 70 60 15 50 36 40 40 15 30 15 54 24 21 20 14 25 15 10 21 10 6 0 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Profit before taxes Non-operational D&A Figures for 2022 restated for IFRS 17 but not for IFRS 9 10 May 2023 55
Slide 56: Results and key figures by quarter
Results and key figures by quarter EURm Q1/2023 Q4/2022 Q3/2022 Q2/2022 Q1/2022 Gross written premiums 363 328 380 331 275 Other income from insurance contracts 53 54 53 53 54 Insurance revenue, net 246 255 228 222 184 Claims incurred and claims handling costs, net -163 -164 -127 -117 -101 Operating
Slide 57: LCP and market share development
LCP and market share development Live customer policies Private car market share Million 9% 3.5 8.3% 8.4% 3.3 8.1% 8.2% 3.2 3.1 3.1 8% 7.7% 7.5% 3.0 2.8 0.41 0.45 7.3% 0.27 0.31 2.7 0.21 7% 2.6 6.5% 0.16 2.5 0.17 2.3 6% 5.8% 0.17 2.0 2.0 0.13 5% 4% 1.5 2.8 2.8 2.8 2.8 2.5 2.6 2.5 3% 2.2 1.0 1.9 2% 0
Slide 58: Mandatum
Mandatum 10 May 2023 58
Slide 59: Mandatum Group key figures (stand-alone)
Mandatum Group key figures (stand-alone) EURm Q1/2023 Q1/2022* Fee result (unit-linked and third-party assets) 13 10 - Insurance service result 8 3 - Other fee result 6 7 Net finance result, with-profit 12 -23 - Investment return 70 -188 - Unwinding and discounting of liabilities -58 165 Result rela
Slide 60: Unit-linked and other third-party assets
Unit-linked and other third-party assets EURm 12000 11,090 10,776 10,302 10000 9,192 8,655 8000 7,260 7,149 6,567 5,981 6000 5,332 4,617 4000 2000 0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Q1/2023 Other third-party assets added on top of unit-linked liabilities for 2014 and onwards. 10 May
Slide 61: With-profit policy savings
With-profit policy savings EURm 4,500 4,000 3,500 1,065 1,008 3,000 964 375 875 393 2,500 751 422 715 712 2,000 400 374 360 359 1,957 1,500 1,807 1,619 1,416 1,304 1,000 1,205 1,176 500 678 619 542 478 426 381 370 0 2017 2018 2019 2020 2021 2022 Q1/2023 Rate 4.5% Rate 3.5% Rate 2.5% or lower Segraga
Slide 62: Holding & other
Holding & other 10 May 2023 62
Slide 63: Sampo plc balance sheet, March 2023
Sampo plc balance sheet, 31 March 2023 Assets total, EURm 9,690 Liabilities total, EURm 9,690 Liquidity 2,498 CPs issued 0 Investment assets 990 LT senior debt 1,294 Real estate 2 Private placements 16 Fixed income 26 Bonds issued 1,278 Equity and private equity 961 Subordinated loans* 100 Subordina
Slide 64: Sampo Group overview
Sampo Group overview 10 May 2023 64
Slide 65: Sampo’s strategy is focused on P&C insurance
Sampo’s strategy is focused on P&C insurance P&C insurance: Invest and develop Life & investments: Manage for value ~25% of ~ 15% group GWP: €8.1bn COR: 82.1% UW profit: €1.3bn group capital earnings Invest to build high quality Nordic and UK private/SME P&C operations Optimise return on capital Pri
Slide 66: P&C Insurance market shares
P&C Insurance market shares 22% Sweden Q4/2022 18% Nordics 20% Norway Q4/2022 Gjensidige 26% LF 31% If & Topdanmark 20% If 22% If 18% Tryg 15% Tryg 14% Tryg 17% LF 10% Fremtid 14% Folksam 16% Gjensidige 9% Storebrand 5% Others 18% OP 5% Others 19% Others 41% 5% 21% Finland Denmark Q4/2021 16% Finlan
Slide 67: Sampo plc’s ownership structure March 2023
Sampo plc’s ownership structure 31 March 2023 Largest Finnish-registered shareholders Ownership development 230,000 70% Solidium Oy 6.51%* 210,000 68% 190,000 Varma Mutual Pension Insurance Company 4.35% 66% 170,000 Ilmarinen Mutual Pension Insurance Company 150,000 64% 1.28% Elo Mutual Pension Insu
Slide 68: Sampo Group ESG overview
Sampo Group ESG overview 10 May 2023 68
Slide 69: Allocation of direct fixed income and equity 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 31 March 2023 Weighted average ESG risk rating of Sampo Group’s direct fixed income and equity investments (0-100) 19 Severe Risk Market value of Sampo Group’s
Slide 70: Examples of initiatives and commitments
Examples of initiatives and commitments Sampo Group If Topdanmark Hastings Mandatum Sampo plc 10 May 2023 70
Slide 71: Sampo plc’s ESG ratings
Sampo plc’s ESG ratings Target: To be rated in the top quartile within the industry among the leading rating agencies’ rankings. Examples of ESG rating agencies Rating and scale Rating distribution and/or ranking Prime Rating of Sampo plc: 59/100 Percentile rank of Sampo plc: 82 Industry average: 33
Slide 72: If P&C – ESG in underwriting and ambitious climate targets
If P&C – ESG in underwriting and ambitious climate targets ESG framework for underwriting Science Based Target initiative (SBTi) SBTi is a joint initiative between the UN, WWF, CDP and World Resources Institute If’s internal framework for ESG in underwriting: If P&C has committed to the Science Base
Slide 73: Investor Presentation January – March 2023
Investor Presentation January – March 2023 Sampo plc Fabianinkatu 27 00100 Helsinki, Finland Phone: +358 10 516 0100 Business ID: 0142213-3 www.sampo.com @Sampo_plc sampo-plc sampo_oyj 10 May 2023 73