Sampo Oyj · OMXHEX:SAMPO
Sampo Oyj — Q3 2022 Earnings Presentation
73 slides from Sampo Oyj's earnings presentation, Nov 2, 2022
Slide 1: Investor Presentation January–September 2022
Investor Presentation JANUARY – SEPTEMBER 2022 1
Slide 2: Sampo Group Q3/2022 results
Sampo Group Q3/2022 results 2 November 2022 2 November 2022 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: 1-9/2022: Robust performance amid economic uncertainty
1-9/2022: Robust performance amid economic uncertainty Resilient results despite increasing economic uncertainty and challenging capital markets GWP growth supported by good development across all business areas Solid underwriting performance across P&C operations, disciplined approach maintained St
Slide 5: Solid results driven by strong underwriting
Solid results driven by strong underwriting Profit before taxes, EURm P&C underwriting profit, EURm Combined ratio, % 3% 2,500 1,200 84% 1.3%-p 985 1,009 1,974 1,000 83% 0.7%-p 2,000 82.4 % 1,472 800 82% 81.6 % 1,500 1% 80.9 % 81.1 % 600 81% 1,000 327 330 632 400 80% 407 500 200 79% 0 0 78% 1-9/2021
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 of somewhat above 5% in the Nordics in Q3, ≈ The rate of Nordic claims inflation at 4-5%, broadly unchanged with continued high retention and good new business flows from Q2; further modest
Slide 7: Higher rates continue to add earnings on top of strong underwriting
Higher rates continue to add earnings on top of strong underwriting Higher rates have benefitted Sampo in 1-9/2022 If P&C fixed income running yield 3.0% Sampo continued to benefit from higher interest rates as fixed income portfolios are 2.7 % gradually being reinvested at higher rates 2.5% 2.0% 12
Slide 8: If P&C: strong GWP growth driven by increased rates and high retention
If P&C: strong GWP growth driven by increased rates and high retention 9M 2022 GWP growth Q3 2022 GWP growth Key developments • Strong organic GWP growth in 9M 2022 (excl. currency effects) of 7.0% If total 7.0% If total 5.7% • Positive GWP development in all business areas and in all countries, dri
Slide 9: If P&C: underwriting profits supported by excellent margins
If P&C: underwriting profits supported by excellent margins 9M 2022 combined ratio Key developments • 9M UW result of EUR 756 mn (680) driven by strong GWP growth and good profitability ~2% • Targeted rate increases drove margin, particularly in Industrial and Commercial • Q3 affected by large losse
Slide 10: If P&C: good customer growth and satisfaction, with continued high retention
If P&C: good customer growth and satisfaction, with continued high retention in BA Private Number of customers, million Customer satisfaction, NPS Customer retention, % households 1.5% CAGR 90% 90% 90% 90% 62 61 60 3.3 59 2019 2020 2021 Q3-22 2019 2020 2021 Q3-22 2019 2020 2021 Q3-22 2 November 2022
Slide 11: Hastings: Solid GWP growth with stable margins
Hastings: Solid GWP growth with stable margins • Robust performance in challenging market, with pricing discipline being the Live customer policies (million) priority 3.2 3.1 3.1 2.7 2.8 2.6 2.3 • Currency adjusted GWP growth of 11%, driven by rate increases and 2.0 continued strong growth in home i
Slide 12: Mandatum: Record high solvency, net flows remained positive
Mandatum: Record high solvency, net flows remained positive Mandatum Life solvency II ratio, % Unit-linked and other client assets, EURbn 300% 12 282% 11.1 10.9 280% 10.3 10.1 255% 10 9.2 260% 8.7 240% 8 216% 220% 200% 188% 190% 6 182% 176% 176% 180% 4 160% 140% 2 120% 100% 0 2017 2018 2019 2020 202
Slide 13: Strong performance relative to financial targets
Strong performance relative to financial targets Financial target 1-9/2022 result • Mid-single digit growth in UW profit • 3% (13% excluding reported COVID-19 effects in annually on average (ex COVID-19 effects) 1-9/2021) • Group combined ratio <86% • 81.6% • Mid-single digit growth in UW profit • 1
Slide 14: Strong solvency, leverage within target
Strong solvency, leverage within target Sampo Group Solvency II ratio, % Sampo Group financial leverage, % Own funds: EURm 9,771 EURm 9,755 IFRS equity: EURm 10,023 EURm 9,510 SCR: EURm 3,993 EURm 3,817 Financial debt: EURm 4,141 EURm 3,319 280% 32% 1.1 % -4.5% 0% 256% -18% 30% Target: <30% 3% 260%
Slide 15: Sampo is firmly committed to returning excess capital
Sampo is firmly committed to returning excess capital • Nordea proceeds deployed in disciplined manner, with focus on capital returns and debt reduction EUR 1.1 bn Nordea proceeds deployed to date EUR 1.6 bn dividends debt reduction • Over Q3, Sampo’s balance sheet has benefitted from higher solvenc
Slide 16: Outlook for 2022
Outlook for 2022 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's IFRS 17 Update
Sampo’s IFRS 17 Update Sampo will hold a virtual IFRS 17 Update event for analysts and investors on Thursday 1 December at 11:00 Finnish time (9:00 UK time). The event can be followed live at www.sampo.com/ifrs17. In the event, the Group CFO Knut Arne Alsaker will give a presentation on the impacts
Slide 18: Sampo Group
SAMPO GROUP 2 November 2022 18
Slide 19: Financials
Financials 2 November 2022 19
Slide 20: Group key figures
Group key figures EURm 1-9/2022 1-9/2021 Change, % Q3/2022 Q3/2021 Change, % Profit before taxes 1,472 1,974 -25 407 632 -36 If 932 818 14 270 252 7 Topdanmark 92 256 -64 32 48 -33 Hastings 65 115 -43 40 31 30 Mandatum 189 201 -6 74 59 24 Holding 194 584 -67 -10 242 - Profit for the period 1,218 1,6
Slide 21: Profit before taxes and EPS by quarters
Profit before taxes and EPS by quarters EURm EUR 1,500 2.50 1,197 1.89 2.00 1,000 1.50 710 0.99 632 632 0.93 0.86 566 1.00 0.82 0.75 485 499 0.70 500 407 0.58 0.50 0.00 0 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 -0.50 -500 -1.00 -1.5
Slide 22: Underwriting
Underwriting 2 November 2022 22
Slide 23: Group GWP and NPE development
Group GWP and NPE development Gross written premiums Net premiums earned EURm EURm 9,000 8,000 7,644 6,887 8,000 7,000 7,241 6,516 1,127 830 7,000 6,493 805 1,103 6,088 6,000 5,566 5,947 5,434 5,475 6,000 5,737 985 1,285 5,143 1,383 728 871 5,000 1,178 1,227 1,315 1,144 642 1,272 5,000 1,235 1,160 1
Slide 24: Group underwriting profit and combined ratio development
Group underwriting profit and combined ratio development Underwriting profit Combined ratio EURm 1,400 88% 1,282 86% 1,200 164 84.6% 1,087 84.0% 83.3% 1,009 84% 103 985 1,000 227 81.4% 87 892 141 82% 80.9% 81.6% 837 182 166 800 210 80% 202 163 600 78% 891 76% 400 802 756 635 682 680 74% 200 72% 0 70
Slide 25: Investments
Investments 2 November 2022 25
Slide 26: Sampo Group investment mix, 30 September 2022
Sampo Group investment mix, 30 September 2022 If Topdanmark P&C Hastings Mandatum* Sampo plc Sampo Group Money market 4% 28% 21% 11% 71% 18% Fixed income 62% 4% 77% 51% 5% 48% Covered bonds 24% 56% 0% 0% 0% 18% Equities 10% 5% 0% 20% 16% 11% Private equity 0% 1% 0% 7% 7% 2% Real estate 0% 5% 0% 4% 0
Slide 27: Fair value reserves, 30 September 2022
Fair value reserves, 30 September 2022 The share transferred to EURm Fixed income Equity Deferred taxes Cash flow hedges FVR net the segregated portfolio If -367 358 -2 - - -12 Mandatum Life** -160 329 -34 38 173 Hastings -99 - 0 0 - -99 Holding 0 83 0 - - 83 Sampo Group* -626 791 -41 0 38 162 *) El
Slide 28: If & Mandatum mark-to-market investment returns
If & Mandatum mark-to-market investment returns If Mandatum 15% 9.4% 10.2% 9.2% 10% 7.1% 6.9% 7.2% 6.1 % 6.5% 6.5% 5.0 % 4.1 %4.6% 5.0 % 4.3 % 5% 2.9 % 2.6 % 2.3 % 1.5 % 0% -0.8 % -5% -2.4% -6.2 % -10% -10.7% -15% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 1-9/2022 Fixed income running yield,
Slide 29: Solvency
SAMPO = GROUP Solvency 2 November 2022 29
Slide 30: Sampo Group Solvency II ratio development
Sampo Group Solvency II ratio development Including dividend accrual based on the insurance dividend of EUR 1.70 per share for 2021 280% 260% 256% 245% 238% 240% 220% 204% 200% 185% 180% 174% 176% 160% 155% 156% 140% 140% 120% 100% 2016 2017 2018 2019 2020 2021 3/2022 6/2022 9/2022 9/2022, adj. Solv
Slide 31: Sampo Group Solvency II, 30 September 2022
Sampo Group Solvency II, 30 September 2022 EURm 12,000 Solvency II ratio 256% 10,000 8,000 6,000 317 -937 -561 9,755 1,913 -383 4,000 241 38 2,000 3,817 3,189 0 2 November 2022 31
Slide 32: Sampo Group Solvency II, estimated sensitivities on market risk factors
Sampo Group Solvency II, estimated sensitivities on market risk factors 30 September 2022 256% 249% 260% 250% 254% 250% 246% 250% 200% 150% 100% 50% 0% Base case 9/2022 RFR -100 bps RFR +100 bps Spread +100 bps Equity prices -10% Equity prices -20% Equity prices -30% The Solvency II symmetric adjust
Slide 33: Financial leverage
Financial leverage 2 November 2022 33
Slide 34: Sampo Group financial leverage
Sampo Group financial leverage Total debt, EURm 3,924 4,531 4,616 4,905 4,210 4,241 4,141 3,319 Including the ongoing buyback programme IFRS equity, EURm 13,508 13,014 12,542 12,258 13,464 12,828 10,023 9,510 of EUR 1 billion 35% 28.6% 29.2% 30% 26.9% 25.9% 27.0% 25.8% 23.8% 24.8% 25% 22.5% 20% 15%
Slide 35: Sampo Group financial debt, 30 September 2022
Sampo Group financial debt, 30 September 2022 Sampo plc If Topdanmark Hastings Mandatum Eliminations* Group, total Sub/hybrid 1,488 229 255 - 350 -320 2,003 Senior bonds 1,317 - - - - - 1,317 Total 2,805 229 255 - 350 -320 3,319 *) Mandatum EUR 100 million held by Sampo plc and Topdanmark EUR 220 mi
Slide 36: Sampo Group debt instruments, 30 September 2022
Sampo Group debt instruments, 30 September 2022 Sampo Plc If Instrument & Principal Coupon Maturity Instrument & Principal Coupon Maturity Senior Bond 318 EURm 1.000% 18 Sep 2023 Subordinated, Tier1 1,000 SEKm Stibor 3M + 2.75% 22 Mar 2023 Senior Bond 162 EURm 1.250% 30 May 2025 Subordinated 1,500 S
Slide 37: If
=> Group SAMPO f a a 8 g Py 3 — g 3 2 n
Slide 38: If combined ratio development
If combined ratio development 90% 85% 88.9% 88.1% 80% 87.7% 86.5% 86.1% 85.3% 85.2% 84.5% 82.1 % 81.3 % 80.8 % 79.8% 75% 70% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 1-9/2021 1-9/2022 Combined ratio Target for 2021-2023 (<85%) Note: 2015 and 2016 excluding one-offs 2 November 2022 38
Slide 39: If results by quarter
If results by quarter EURm Q3/2022 Q2/2022 Q1/2022 Q4/2021 Q3/2021 Gross written premiums 1,081 1,343 1,923 1,057 1,031 Net earned premiums 1,280 1,253 1,216 1,229 1,202 Claims incurred -778 -708 -735 -742 -716 Operating expenses -267 -258 -247 -276 -248 Underwriting result 235 288 234 210 238 Other
Slide 40: If key figures by quarter
If key figures by quarter Q3/22 Q2/22 Q1/22 Q4/21 Q3/21 Q2/21 Q1/21 Q4/20 Q3/20 Risk ratio, % 60.8 56.5 60.5 60.4 59.6 58.8 61.0 57.6 62.4 Cost ratio, % 20.9 20.6 20.3 22.5 20.6 21.9 20.5 23.8 20.5 Expense ratio, % 15.3 15.1 14.9 17.2 15.2 15.9 14.9 17.4 15.2 Combined ratio, % 81.6 77.1 80.8 82.9 80
Slide 41: If key figures by business area and country
If key figures by business area and country 1-9/2022 (1-9/2021) Private Commercial Industrial Baltic Sweden Norway Finland Denmark GWP, EURm 2,274 (2,227) 1,139 (1,075) 778 (646) 157 (128) 1,474 (1,452) 1,399 (1,258) 887 (846) 431 (392) NPE, EURm 2,201 (2,132) 989 (937) 423 (358) 136 (116) 1,265 (1,
Slide 42: If key figures by business area and country
If key figures by business area and country Q3/2022 (Q3/2021) Private Commercial Industrial Baltic Sweden Norway Finland Denmark GWP, EURm 714 (699) 184 (167) 135 (126) 49 (41) 419 (414) 334 (305) 178 (173) 101 (101) NPE, EURm 747 (724) 337 (316) 148 (121) 49 (41) 428 (424) 426 (381) 256 (242) 121 (
Slide 43: If GWP quarterly growth by business area and country
If 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 2018 2.6 3.9 1.6 0.9 0.8 3.1 8.5 3.1 2.2 16.2 -1.8 6.7 11.5 9.6 4.6 2.5 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
Slide 44: If large claims and prior year gains
If large claims and prior year gains Q3/22 Q2/22 Q1/22 Q4/21 Q3/21* Q2/21* Q1/21 Q4/20 Q3/20 Large claims vs expected, % 2.4% -1.7% 1.5% 2.8% -2.4% 2.7% 0.1% 0.3% 3.2% Prior year gains, EURm 69 66 97 38 39 48 47 50 33 Prior year gains, % 5.4% 5.3% 7.9% 3.1% 3.2% 4.0% 4.0% 4.4% 2.9% Positive number i
Slide 45: Nordic market – new car sales development
Nordic market – new car sales development If P&C market share, new car sales Nordic market new car sales, number of cars -17% 26% 25% 595,000 493,000 9M 2021 9M 2022 9M 2021 9M 2022 2 November 2022 45
Slide 46: Unwind of COVID-19 effects has an adverse effect on the combined ratio development
Unwind of COVID-19 effects has an adverse effect on the combined ratio development Positive COVID-19 effect, approximation in percentage points 4% 4% • At the start of 2022, pandemic-related restrictions were 3% 3% 3% 3% reintroduced for a few weeks, leading to lower claims frequencies across the No
Slide 47: If discount rate development
If discount rate development 2.0% 1.6% 1.25% 1.2% 0.95% 0.75% 0.75% Finland 0.8% 0.25% 0.4% Denmark 0.0% -0.72% -0.55% -0.77% -0.4% -0.28% Sweden -0.8% -1.2% -1.6% -2.0% -1.59% -1.81% -1.74% -2.4% 2020 2021 2022 2 November 2022 47
Slide 48: Topdanmark
Topdanmark 2 November 2022 48
Slide 49: Topdanmark financial highlights
Topdanmark financial highlights (as reported by Topdanmark stand-alone) 2017 2018 2019 2020 2021 1-6/2021* 1-6/2022* P&C premiums earned, mDKK 8,985 9,135 9,397 9,732 10,154 7,120 7,385 Life premiums earned, mDKK 8,525 10,111 11,106 10,981 10,360 - - Profit on P&C insurance, mDKK 1,909 1,420 1,601 1
Slide 50: 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% 85.1% 85% 83.6% 83.7% 83.7% 82.0% 82.1% 80.9% 80% 75% 70% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 1-9/2021 1-9/2022 *) Life business treated as discontinued operat
Slide 51: Topdanmark profit before taxes by quarter (consolidated)
Topdanmark profit before taxes by quarter (consolidated) EURm 140 137 120 100 89 82 80 71 58 60 52 46 48 40 34 37 32 23 20 0 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 -20 -13 2 November 2022 51
Slide 52: Hastings
SAMPO = GROUP Hastings 2 November 2022
Slide 53: Hastings operating ratio and loss ratio development
Hastings operating ratio and loss ratio development Operating ratio Loss ratio 100% 90% 95% 85% 82.6 % 90% 87.5 % 87.4 % 88.0 % 80% 77.6 % 76.5 % 85% 75% 80.3 % 80% 78.1 % 70% 75% 65% 63.5 % 62.2 % 70% 60% 65% 55% 60% 50% 2019 2020 2021 1-9/2021 1-9/2022 2019 2020 2021 1-9/2021 1-9/2022 Target for 2
Slide 54: Hastings profit before taxes by quarter (consolidated)
Hastings profit before taxes by quarter (consolidated) EURm 70 56 60 55 10 48 50 15 10 41 38 40 10 30 15 21 46 17 20 38 40 31 10 10 23 15 11 0 2 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Profit before taxes Non-operational D&A 2 November 2022 54
Slide 55: Hastings LCP development
Hastings LCP development Million 3.5 3.1 3.1 3.2 2.8 3.0 0.27 0.31 0.39 2.6 2.7 0.21 2.3 0.17 0.16 2.5 2.0 0.17 2.0 0.13 1.5 2.8 2.8 2.8 2.5 2.5 2.6 1.0 2.2 1.9 0.5 0.0 2015 2016 2017 2018 2019 2020 2021 Q3/2022 Motor Home 2 November 2022 55
Slide 56: Hastings private car market share development
Hastings private car market share development 9% 8.4% 8.3% 8.2% 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 2021 9/2022 2 November 2022 56
Slide 57: Mandatum
SAMPO = GROUP Mandatum 2 November 2022
Slide 58: Mandatum profit by components
Mandatum profit by components EURm 1-9/2022 1-9/2021 Q3/2022 Q3/2021 Investment result 124 157 41 40 Expense result 13 20 6 8 Risk result 24 20 8 9 Other items -3 2 8 -2 Total Life result 158 199 63 56 Asset Management result 26 9 11 4 Group items -1 -7 0 0 Mandatum Group profit before taxes* 183 20
Slide 59: Mandatum's profit components
Mandatum’s profit components EURm 300 250 200 187 192 221 178 150 158 157 124 129 107 86 100 109 102 18 50 33 35 27 27 25 24 9 26 24 14 19 20 13 6 33 31 35 33 35 38 43 19 24 23 20 24 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 1-9/2021 1-9/2022 Risk result Expense result Asset Management Inv
Slide 60: Mandatum unit-linked and other client assets
Mandatum unit-linked and other client assets EURm 12,000 11,000 10,000 9,000 8,000 7,000 6,000 11,090 5,000 10,121 9,192 8,655 4,000 7,260 7,149 6,567 3,000 5,981 5,332 4,617 2,000 3,833 1,000 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 9/2022 Other client assets added on top of unit-linked
Slide 61: Mandatum Life with-profit liabilities
Mandatum Life with-profit liabilities EURm 6,000 5,000 1,228 1,196 1,142 4,000 1,065 385 439 135 244 1,008 439 273 964 499 325 545 232 875 Segregated fund 3,000 547 751 230 556 724 570 218 2,598 274 Reserve for decreased 2,475 534 231 2,000 2,360 discount rate 2,245 491 2,108 451 1,957 Other with-pr
Slide 62: Holding & other
Holding & other 2 November 2022 62
Slide 63: Sampo plc balance sheet, 30 September 2022
Sampo plc balance sheet, 30 September 2022 Assets total, EURm Liabilities total, EURm 9,481 9,481 Liquidity 2,261 CPs issued 0 Investment assets 609 LT senior debt 1,317 Real estate 2 Private placements 33 Fixed income 34 Bonds issued 1,284 Equity and private equity 573 Subordinated loans* 100 Subor
Slide 64: Sampo Group overview
Sampo Group overview 2 November 2022 64
Slide 65: 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 ~30% of ~ 15-20% group GWP: €7.6bn COR: 81.4% UW profit: €1.3bn group capital earnings Invest to build high quality Nordic and UK private/SME P&C operations Optimise return on capital
Slide 66: P&C Insurance market shares
P&C Insurance market shares 21% Nordics If & Topdanmark 21% Tryg 17% Norway Q2/2022 Sweden Q2/2022 LF 10% Gjensidige 26% LF 33% 19% Gjensidige 9% 22% If 19% If 22% OP 5% Fremtid 15% Tryg 19 Others 38% Tryg 14% Folksam 17% Storebrand 5% Others 18% Others 19% Finland 2021 21% OP 32% Norway Sweden Finl
Slide 67: Sampo plc's ownership structure
Sampo plc’s ownership structure Registered shareholders, 30 September 2022 Solidium Oy 6.24%* Varma Mutual Pension Insurance Company 4.17% Sampo Plc 1.98% Ilmarinen Mutual Pension Insurance Company 1.60% Elo Mutual Pension Insurance Company 0.63% Other domestic shareholders 25.13% Foreign and nomine
Slide 68: Sampo Group ESG overview
Sampo Group ESG overview 2 November 2022 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 30 September 2022 Weighted average ESG risk rating of Sampo Group’s Severe Risk direct fixed income and equity investments (0-100) 19 High Risk 1% 2% Market va
Slide 70: Examples of initiatives and commitments
Examples of initiatives and commitments Sampo Group If Topdanmark Hastings Mandatum Sampo plc 2 November 2022 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 (Average of all resp
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–September 2022
Investor Presentation JANUARY – SEPTEMBER 2022 www.sampo.com Sampo plc Phone: +358 10 516 0100 Sampo_plc Fabianinkatu 27 Business ID: 0142213-3 sampo_oyj 00100 Helsinki sampo-plc Finland 73