Sampo Oyj · OMXHEX:SAMPO
Sampo Oyj — FY2022 Earnings Presentation
79 slides from Sampo Oyj's earnings presentation, Feb 10, 2023
Slide 1: Investor Presentation January–December 2022
Investor Presentation JANUARY – DECEMBER 2022 1
Slide 2: Sampo Group 2022 results
Sampo Group 2022 results 10 February 2023 10 February 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: 2022: Solid performance in a year of uncertainty
2022: Solid performance in a year of uncertainty Strong underwriting results, driven by excellent performance in Nordic P&C Premium growth supported by high retention, price actions and targeted new business Higher interest rates have added substantially to the group’s earnings power Strong solvency
Slide 5: Solid results driven by strong performance in Nordic P&C
Solid results driven by strong performance in Nordic P&C Profit before taxes, excl. eo. items, EURm P&C underwriting profit, EURm Combined ratio, % 2% 2,500 1,600 86% 0.7%-p 2,189 1,282 1,314 1,400 85% 2,000 0.7%-p 83.7 % 1,725 1,200 84% 83.0 % 1,500 1,000 83% 82.1 % 800 82% 81.4 % 2% 1,000 600 81%
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 5-6% in the Nordics in Q4, with continued ≈ The rate of Nordic claims inflation at 4-5%, stable vs Q3 - high retention and good new business flows Commercial & Industrial in upper end of
Slide 7: Higher interest rates translating into increased earnings power
Higher interest rates translating into increased earnings power Higher rates have benefitted Sampo in 2022 If P&C fixed income running yield 3.5% 3.2 % Sampo continued to benefit from higher interest rates as fixed income portfolios are 3.0% gradually being reinvested at higher rates 2.5% 2.0% If P&
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 12M 2022 GWP growth Q4 2022 GWP growth Key developments • Strong GWP growth in 2022 (ex. currency effects) of 7.2% • Positive development in all business areas and countries, driven primarily by rate increases and continued high
Slide 9: If P&C: underwriting profits supported by healthy growth and margins
If P&C: underwriting profits supported by healthy growth and margins 12M 2022 combined ratio Key developments ~2% ~2% • 2022 UW result of EUR 985 million (891) driven by strong GWP growth and good margins • Continued improvement from targeted rate increases to mitigate claims inflation • Q4 large cl
Slide 10: If P&C: Strong momentum in select value creation areas
If P&C: Strong momentum in select value creation areas Capitalizing on digital • Broad based positive momentum across sales, service and 53% Online share leadership in retail segment claims of direct incoming sales Leverage unrivalled position • Good renewal rate for large OEMs during the year and 2
Slide 11: If P&C: good customer growth and satisfaction, 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 90% 90% 90% 90% 3.3 62 3.2 61 3.2 60 3.2 59 2019 2020 2021 2022 2019 2020 2021 2022 2019 2020 2021 2022 10 February 2023
Slide 12: Hastings: Strong GWP growth with resilient margins
Hastings: Strong GWP growth with resilient margins • Resilient performance in a challenging market amid elevated claims inflation Live customer policies (million) and increased frequencies 3.2 3.1 3.1 2.7 2.8 2.6 2.3 • Currency adjusted GWP growth of 15%, driven by high retention, disciplined 2.0 pr
Slide 13: Good progress on delivery of Hastings benefits
Good progress on delivery of Hastings benefits • Sampo continues to expect run-rate benefits of EUR 45 million from Identified pre-tax benefits of EUR 45 million the integration of Hastings by Q4/2024 Capital management EUR 15 mn 100% Pricing ~25% 50% • Synergies identified across operational collab
Slide 14: Mandatum: Strong net flows, benefit from higher interest rates
Mandatum: Strong net flows, benefit from higher interest rates Mandatum Life solvency II ratio, % Unit-linked and other client assets, EURbn 300% 12 282% 11.1 10.9 280% 10.3 10.1 10.3 255% 10 9.2 260% 248% 8.7 240% 8 216% 220% 200% 194% 190% 6 188% 182% 176% 180% 4 160% 140% 2 120% 100% 0 2017 2018
Slide 15: Group performance ahead of financial targets, driven by Nordic P&C
Group performance ahead of financial targets, driven by Nordic P&C Financial target 2022 result • Mid-single digit growth in UW profit • 13% (2% on a reported basis) annually on average (ex COVID-19 effects) • Group combined ratio <86% • 82.1% • Mid-single digit growth in UW profit • 26% (11% on a r
Slide 16: Strong solvency, leverage within target
Strong solvency, leverage within target Sampo Group Solvency II ratio, % Sampo Group financial leverage, % Own funds: EURm 9,775 EURm 8,083 IFRS equity: EURm 9,510 EURm 9,543 SCR: EURm 3,817 EURm 3,857 Financial debt: EURm 3,319 EURm 3,288 280% 32% 6% -8% 3.9 % 29.5 % Target: <30% 256% 30% 260% 1% -
Slide 17: Sampo continues its disciplined approach to capital management
Sampo continues its disciplined approach to capital management • EUR 2.60 per share dividend proposed, including a EUR 1.80 per share Sampo’s has excess capital of around EUR 2 p/s** regular dividend* and a EUR 0.80 per share extra dividend Financial leverage Solvency II coverage • Management to pro
Slide 18: 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 19: Strategic review of Mandatum is ongoing
Strategic review of Mandatum is ongoing P&C Focused strategy • In December 2022, the Sampo Board of Directors launched a Invest and develop Manage for value strategic review to assess Mandatum’s role within the group P&C insurance Mandatum and Sampo plc • The Board is considering if a separation of
Slide 20: The potential demerger option would enable a listing of Mandatum
The potential demerger option would enable a listing of Mandatum In a demerger Mandatum shares would be spun out of Sampo and issued to In a demerger, Mandatum shares would be issued Sampo shareholders – no cash proceeds would be generated to shareholders in Sampo Sampo plc Sampo plc As an independe
Slide 21: Sampo Group
SAMPO GROUP 10 February 2023 21
Slide 22: Financials
Financials 10 February 2023 22
Slide 23: Group key figures
Group key figures EURm 2022 2021 Change, % Q4/2022 Q4/2021 Change, % Profit before taxes 1,863 3,171 -41 390 1,197 -67 If 1,217 1,077 13 285 260 10 Topdanmark 220 346 -36 128 89 44 Hastings 73 127 -43 7 11 -34 Mandatum (before group contribution)* 236 306 -23 47 106 -56 Holding (before group contrib
Slide 24: Major accounting effects in Sampo Group's P&L
Major accounting effects in Sampo Group’s P&L Extraordinary items in accordance with Sampo’s dividend policy in 2022 Extraordinary items in accordance with Sampo’s dividend policy in 2021 Item, pre-tax Q1/22 Q2/22 Q3/22 Q4/22 2022 Item, pre-tax Q1/21 Q2/21 Q3/21 Q4/21 2021 Nordea, sales gain 28 75 1
Slide 25: 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 0.75 499 500 407 390 0.58 0.50 0.50 0.00 0 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 -0.50 -500 -1.00 -1.5
Slide 26: Share buybacks development
Share buybacks development Buybacks by programme Buybacks by quarter 1st programme Shares repurchased EURm Shares repurchased EURm Announcement date: 1 Oct 2021 Start date: 4 Oct 2021 Q4/2021 8,539,956 380 Q4/2021 8,539,956 380 End date: 25 Mar 2022 Q1/2022 8,588,549 370 Total 2021 8,539,956 380 Ann
Slide 27: Underwriting
Underwriting 10 February 2022 27
Slide 28: Group GWP and NPE development
Group GWP and NPE development Gross written premiums Net premiums earned EURm EURm 9,000 8,000 8,136 7,337 8,000 6,887 7,644 7,000 7,241 1,313 6,516 1,010 1,127 830 7,000 805 1,103 6,000 5,947 5,434 5,566 1,326 5,737 1,391 6,000 1,383 1,285 5,000 1,178 1,227 1,315 1,144 1,272 5,000 1,235 4,000 4,000
Slide 29: Group underwriting profit and combined ratio development
Group underwriting profit and combined ratio development Underwriting profit Combined ratio EURm 1,400 88% 1,314 1,282 104 86% 1,200 164 84.6% 1,087 84.0% 83.3% 224 84% 103 1,000 227 81.4% 82.1% 892 82% 837 182 800 210 80% 202 600 78% 985 76% 891 400 802 635 682 74% 200 72% 0 70% 2018 2019 2020* 202
Slide 30: Investments
Investments 10 February 2022 30
Slide 31: Sampo Group investment mix, 31 December 2022
Sampo Group investment mix, 31 December 2022 If Topdanmark P&C Hastings Mandatum* Sampo plc Sampo Group Money market 1% 20% 18% 9% 76% 17% Fixed income 64% 4% 79% 53% 4% 47% Covered bonds 24% 65% 0% 0% 0% 19% Equities 11% 4% 0% 20% 13% 11% Private equity 0% 1% 0% 7% 7% 2% Real estate 0% 4% 0% 4% 0%
Slide 32: Fair value reserves, December 2022
Fair value reserves, 31 December 2022 The share transferred to EURm Fixed income Equity Deferred taxes Cash flow hedges FVR net the segregated portfolio If -333 461 -31 - - 97 Mandatum Life** -139 364 -45 34 213 Hastings -65 - 0 0 - -65 Holding 0 20 0 - - 20 Sampo Group* -538 866 -80 0 34 282 *) Eli
Slide 33: If & Mandatum mark-to-market investment returns
If & Mandatum mark-to-market investment returns If Mandatum 15% 10.2% 9.2% 10% 7.1% 6.9% 7.2% 6.5% 6.5% 5.0 % 5.0 % 4.1 %4.6% 4.3 % 5% 2.9 % 2.6 % 2.3 % 1.5 % 0% -0.8 % -2.4% -5% -4.4 % -10% -9.0% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Fixed income running yield, % Q4/19 Q1/20 Q2/20 Q3/20
Slide 34: Solvency
SAMPO = GROUP Solvency 10 February 2022 34
Slide 35: Sampo Group Solvency II ratio development
Sampo Group Solvency II ratio development 280% 260% 256% 245% 240% 220% 210% 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 2022 Solvency II ratio Target range for 2021-2023 (170-190%) Column1 10 February 2022 35
Slide 36: Sampo Group Solvency II, 31 December 2022
Sampo Group Solvency II, 31 December 2022 EURm 9,000 Solvency II ratio 210% 8,000 7,000 6,000 281 5,000 -935 -574 -73 20 4,000 1,875 8,083 261 3,000 2,000 3,857 3,001 1,000 0 10 February 2022 36
Slide 37: Solvency II estimated sensitivities on market risk factors
Sampo Group Solvency II, estimated sensitivities on market risk factors 31 December 2022 210% 204% 214% 204% 212% 210% 206% 200% 150% 100% 50% 0% Base case 2022 RFR -100 bps RFR +100 bps Spread +100 bps Equity prices -10% Equity prices -20% Equity prices -30% The Solvency II symmetric adjustment of
Slide 38: Financial leverage
Financial leverage 10 February 2023 38
Slide 39: 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 3,288 IFRS equity, EURm 13,508 13,014 12,542 12,258 13,464 12,828 10,023 9,510 9,543 35% 22.5% 25.8% 26.9% 28.6% 23.8% 24.8% 29.2% 25.9% 25.6% 29.5% 30% 25% 20% 15% 10% 5% 0% 2017 2018 2019 2020 2021 3/20
Slide 40: Sampo Group financial debt, 31 December 2022
Sampo Group financial debt, 31 December 2022 Sampo plc If Topdanmark Hastings Mandatum Eliminations* Group, total Sub/hybrid 1,489 224 148 - 350 -228 1,983 Senior bonds 1,306 - - - - - 1,306 Total 2,805 224 148 - 350 -228 3,288 *) Mandatum EUR 100 million held by Sampo plc and Topdanmark EUR 128 mil
Slide 41: Sampo Group outstanding debt instruments, 31 December 2022
Sampo Group outstanding debt instruments, 31 December 2022 Sampo Plc If Instrument & Principal Coupon Maturity/call Instrument & Principal Coupon Maturity/call 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 202
Slide 42: If
SAMPO = GROUP If 10 February 2023
Slide 43: 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 % 80.3% 75% 70% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Combined ratio Target for 2021-2023 (<85%) Note: 2015 and 2016 excluding one-offs 10 February 2023 43
Slide 44: If results by quarter
If results by quarter EURm Q4/2022 Q3/2022 Q2/2022 Q1/2022 Q4/2021 Gross written premiums 1,084 1,081 1,343 1,923 1,057 Net earned premiums 1,253 1,280 1,253 1,216 1,229 Claims incurred -741 -778 -708 -735 -742 Operating expenses -282 -267 -258 -247 -276 Underwriting result 229 235 288 234 210 Other
Slide 45: If key figures by quarter
If key figures by quarter Q4/22 Q3/22 Q2/22 Q1/22 Q4/21 Q3/21 Q2/21 Q1/21 Q4/20 Risk ratio, % 59.2 60.8 56.5 60.5 60.4 59.6 58.8 61.0 57.6 Cost ratio, % 22.5 20.9 20.6 20.3 22.5 20.6 21.9 20.5 23.8 Expense ratio, % 16.3 15.3 15.1 14.9 17.2 15.2 15.9 14.9 17.4 Combined ratio, % 81.7 81.6 77.1 80.8 82
Slide 46: If key figures by business area and country
If key figures by business area and country 2022 (2021) Private Commercial Industrial Baltic Sweden Norway Finland Denmark GWP, EURm 2,984 (2,937) 1,352 (1,292) 890 (736) 205 (169) 1,858 (1,839) 1,782 (1,633) 1,050 (1,003) 533 (490) NPE, EURm 2,925 (2,865) 1,319 (1,262) 572 (487) 187 (158) 1,676 (1,
Slide 47: If key figures by business area and country, Q4
If key figures by business area and country Q4/2022 (Q4/2021) Private Commercial Industrial Baltic Sweden Norway Finland Denmark GWP, EURm 710 (710) 213 (217) 112 (90) 49 (40) 384 (386) 382 (375) 163 (157) 102 (98) NPE, EURm 724 (733) 329 (325) 149 (129) 50 (42) 411 (427) 414 (400) 255 (243) 122 (11
Slide 48: 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 49: If large claims and prior year gains
If large claims and prior year gains Q4/22 Q3/22 Q2/22 Q1/22 Q4/21* Q3/21* Q2/21* Q1/21 Q4/20 Large claims vs expected, % 1.0% 2.4% -1.7% 1.5% 2.8% -2.4% 2.7% 0.1% 0.3% Prior year gains, EURm 104 69 66 97 38 39 48 47 50 Prior year gains, % 8.3% 5.4% 5.3% 7.9% 3.1% 3.2% 4.0% 4.0% 4.4% Positive number
Slide 50: Prior year result development
Prior year result development If P&C Finnish discount rate vs 10y FI gov bond Q4 2022 – Key highlights % 3.5 • In Q4, prior year gains were driven by an increase in the Finnish annuity discount rate from 1.25 per cent to 2.50 per cent 3.0 • Additional positive effect from increased Swedish discount
Slide 51: 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 -9.5% 26% 25% 782,000 708,000 2021 2022 2021 2022 10 February 2023 51
Slide 52: Unwind of COVID-19 effects on the combined ratio
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 53: Topdanmark
Topdanmark 10 February 2023 53
Slide 54: Topdanmark financial highlights
Topdanmark financial highlights (as reported by Topdanmark stand-alone) 2018 2019 2020 2021 2022 P&C premiums earned, mDKK 8,609 8,896 9,125 9,541 9,903 Profit on P&C insurance, mDKK 1,378 1,845 1,347 2,461 1,299 Parent company etc, mDKK 54 60 34 -35 -59 Profit before taxes, mDKK 1,432 1,905 1,381 2
Slide 55: Topdanmark combined ratio development
Topdanmark combined ratio development (as reported by Topdanmark stand-alone) 95% 91.5% 90% 86.8% 86.5% 86.0% 85.1% 85% 83.6% 83.7% 82.0% 81.8% 80.1% 80% 75% 70% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Note: Not including Life insurance operations from 2021 onwards 10 February 2023 55
Slide 56: Topdanmark profit before taxes by quarter
Topdanmark profit before taxes by quarter (consolidated) EURm 140 137 128 120 100 89 82 80 71 58 60 52 46 48 40 37 32 23 20 0 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 -20 -13 10 February 2023 56
Slide 57: Hastings
SAMPO = GROUP Hastings 10 February 2023
Slide 58: Hastings operating ratio and loss ratio development
Hastings operating ratio and loss ratio development Operating ratio Loss ratio 100% 90% 83.7 % 95% 85% 82.6 % 89.7 % 90% 87.5 % 87.4 % 80% 76.5 % 85% 75% 80.3 % 80% 70% 75% 65% 62.2 % 70% 60% 65% 55% 60% 50% 2019 2020 2021 2022 2019 2020 2021 2022 Target for 2021-2023 (<88%) Target for 2021-2023 (<7
Slide 59: Hastings profit before taxes by quarter
Hastings profit before taxes by quarter (consolidated) EURm 70 60 56 55 10 48 50 15 10 41 38 40 10 30 15 22 46 21 20 38 17 40 31 10 15 10 23 15 11 7 0 2 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Profit before taxes Non-operational D&A 10 February 2023 59
Slide 60: Hastings LCP development
Hastings LCP development Million 3.5 3.1 3.1 3.2 2.8 3.0 0.27 0.31 0.41 2.7 2.6 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 2022 Motor Home 10 February 2023 60
Slide 61: Hastings private car market share development
Hastings private car market share development 9% 8.4% 8.3% 8.1% 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 2022 10 February 2023 61
Slide 62: Hastings financials bridge
Hastings financials bridge Impact of acquisition HGH* HGH* HGC* as part of Sampo HGC* as part of Sampo accounting 1-12/2021 1-12/2022 GBPm 1-12/2022 1-12/2022 GBPm GBPm GBPm EURm Gross written premium 969 1120 1120 1,313 Net earned premiums A 429 506 506 594 Other operating income B 301 355 355 416
Slide 63: Mandatum
SAMPO = GROUP Mandatum 10 February 2023
Slide 64: Mandatum profit by components
Mandatum profit by components EURm 2022 2021 Q4/2022 Q4/2021 Investment result 149 187 25 31 Expense result 19 27 6 7 Risk result 32 43 8 23 Other items 2 -6 5 -8 Total Life result 203 251 44 53 Asset Management result 30 18 4 9 Group contribution to Sampo plc -29 -15 -29 -15 Group items -1 -7 0 0 M
Slide 65: Mandatum's profit components
Mandatum’s profit components EURm 300 250 200 187 192 221 178 149 150 158 129 107 86 100 109 18 30 50 33 35 27 27 25 24 24 19 14 19 33 31 35 33 35 38 43 32 24 23 0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Risk result Expense result Asset Management Investment result 10 February 2023 65
Slide 66: 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 10,301 9,192 8,655 4,000 7,260 7,149 6,567 3,000 5,981 5,332 4,617 2,000 1,000 0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Other client assets added on top of unit-linked liabilities f
Slide 67: Mandatum Life with-profit liabilities
Mandatum Life with-profit liabilities EURm 6,000 5,000 1,228 1,196 1,142 4,000 1,065 439 135 244 1,008 439 273 964 499 325 545 232 875 Segregated fund 3,000 547 751 230 556 715 570 218 2,475 274 Reserve for decreased 2,360 534 211 discount rate 2,000 2,245 491 2,108 456 1,957 Other with-profit excl.
Slide 68: Holding & other
Holding & other 10 February 2023 68
Slide 69: Sampo plc balance sheet, 31 December 2022
Sampo plc balance sheet, 31 December 2022 Assets total, EURm Liabilities total, EURm 9,685 9,685 Liquidity 2,467 CPs issued 0 Investment assets 990 LT senior debt 1,306 Real estate 2 Private placements 21 Fixed income 27 Bonds issued 1,285 Equity and private equity 961 Subordinated loans* 100 Subord
Slide 70: Sampo Group overview
Sampo Group overview 10 February 2023 70
Slide 71: 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 72: P&C Insurance market shares
P&C Insurance market shares 20% Nordics If & Topdanmark 20% Tryg 15% Norway Q3/2022 Sweden Q3/2022 LF 9% Gjensidige 26% LF 33% 18% Gjensidige 9% 22% If 18% If 22% OP 5% Fremtid 15% Tryg 17% Others 41% Tryg 14% Folksam 16% Storebrand 5% Others 18% Others 19% Finland 2021 21% OP 32% Norway Sweden Finl
Slide 73: Sampo plc's ownership structure
Sampo plc’s ownership structure Registered shareholders, 31 December 2022 Solidium Oy 6.44%* Varma Mutual Pension Insurance Company 4.31% Ilmarinen Mutual Pension Insurance Company 1.25% Elo Mutual Pension Insurance Company 0.61% Oy Lival AB 0.60% Other domestic shareholders 25.13% Foreign and nomin
Slide 74: Sampo Group ESG overview
Sampo Group ESG overview 10 February 2023 74
Slide 75: Allocation of 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 December 2022 Weighted average ESG risk rating of Sampo Group’s Severe Risk direct fixed income and equity investments (0-100) 19 High Risk 0% 3% Market val
Slide 76: Examples of initiatives and commitments
Examples of initiatives and commitments Sampo Group If Topdanmark Hastings Mandatum Sampo plc 10 February 2023 76
Slide 77: 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 78: 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 79: Investor Presentation January–December 2022
Investor Presentation JANUARY – DECEMBER 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 79