Sampo Investor Update 2022: Strong strategic and operational execution – initiatives for further underwriting profit growth

Since the Capital Markets Day in February 2021, Sampo has successfully executed against its strategic ambitions and delivered excellent financial performance, well ahead of its financial targets. As the leading P&C insurer in the Nordic region, both in terms of scale and digital capabilities, the Group is well-positioned to continue to deliver on strategic and financial ambitions. With the Group now focused on its P&C insurance operations, Sampo will today host an Investor Update in London outlining its key underwriting profit growth opportunities.

Sampo's strategic focus area is P&C insurance, where it is the Nordic market leader. Sampo's strategy is based on leveraging its superior technical and digital capabilities, developed through consistent and focused investments, to enable excellent customer solutions and high efficiency. The Group has almost 4 million customers in the Nordic countries.

"Over the last 18 months Sampo has become a pure insurance group focused on its high-quality P&C operations. I see significant opportunities to continue to grow our business through our competitive advantages and customer-centric business model, while maintaining the clear focus on underwriting profitability that is a cornerstone of our corporate culture," says TorbjöMagnusson, Group CEO.

Based on its strong position and unique capabilities, Sampo sees underwriting profit growth opportunities in several areas:

- Digital leadership can be capitalized in retail insurance market segment.

- Sampo has the deepest and broadest cooperation with automotive partners in the Nordics and it sees significant opportunities in being preferred partner.

- Digital sales and service model offers sizable growth potential in the SME insurance market segment in long-term.

Sampo has an exceptional long-term track record of delivering strong and stable technical margins. Over 2021 and the first half of 2022, Sampo has continued to deliver very strong financial results in its P&C operations, putting the Group in an excellent position to deliver on its financial targets for 2021-23.

Combined with the divestment of the remaining stake in Nordea, Sampo's strong performance has resulted in a significant excess capital position, driving capital returns of over EUR 3 billion already this year. The Group remains committed to capital efficiency and will communicate further on potential additional capital returns in connection with the financial year 2022 results announcement in February 2023, as previously stated.

Sampo is also announcing today that it has initiated an evaluation of a dual listing on Nasdaq Stockholm, with the aim to grow investor demand and the share's liquidity for the benefit of all shareholders.

The Investor Update will start at 15:00 EEST / 14:00 CEST / 13:00 BST and a live webcast will be available onwww.sampo.com/investorupdate.

For further information, please contact:

Sami Taipalus Head of Investor Relations
tel. +358 10 516 0030

Media enquiries:

Maria Silander Communications Manager, Media Relations
tel. +358 10 516 0031

Distribution:
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www.sampo.com

APPENDIX: Sampo Group financial targets for 2021-2023

Financial targets for 2021-2023 announced at the Capital Markets Day on 24 February 2021

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Sampo Oyj published this content on 08 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 September 2022 06:09:07 UTC.