Cooperation procedure to begin in If P&C Insura...

SAMPO PLC           STOCK EXCHANGE RELEASE         7 October 2015 at 8:45 am

Cooperation procedure to begin in If P&C Insurance Company

If P&C Insurance Company Ltd (Finland), a company belonging to Sampo Group, will begin cooperation procedure on 12 October 2015 involving approximately 212 staff members at Commercial and Private business areas as well as internal audit of If P&C Insurance Company. Preliminary estimate for the staff decrease is a maximum of 89 people. The aim is to avoid dismissals.

The cooperation procedure will begin because of the need for centralizing operations due to the growing demand for internet and telephone services for customers as well as to the increased use of automation.

The number of employees in If P&C Insurance Company was approximately 1,730 on 30 June 2015. The Nordic If P&C Insurance Group employed a total of 6,190 people at the end of June.

SAMPO PLC

Maria Silander
Communications Manager
tel. [phone]

For further information, please contact:

Timo Vuorinen
Managing Director
If P&C Insurance Company Ltd (Finland)
tel. [phone]

Distribution:
Nasdaq Helsinki
The principal media
Financial Supervisory Authority
www.sampo.com

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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Sampo Oyj via Globenewswire

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