Good results for Sampo Group in January - March...

SAMPO PLC              PRESS RELEASE                8 May 2013 at 9:35 am

Good results for Sampo Group in January - March 2013

Good development continued as Sampo Group's profit before taxes for the first quarter of 2013 amounted to EUR 370 million compared to EUR 370 million in the first quarter of 2012. Earnings per share remained at EUR 0.57.

- Net asset value per share reached an all-time high of EUR 21.03 due to strong results and good development in equity markets, especially in Nordea, says Group CEO and President Kari Stadigh.

Key figures

• P&C insurance operations reported best ever first quarter combined ratio of 90.9 per cent (91.7). The profit before taxes was EUR 204 million (198).
• Associated company Nordea reached best ever first quarter total operating income at EUR 2,558 million. Core tier 1 ratio increased to 13.2 per cent. Sampo's share of Nordea's profit for the first quarter of 2013 was EUR 162 million (158). In addition, Nordea paid Sampo a dividend of EUR 293 million in March 2013.
• Profit before taxes for the life insurance operations increased to EUR 36 million (33) as EUR 20 million was used to lower the discount rates for the with profit portfolios further.
• Sampo Group's total comprehensive income for the period, taking changes in the market value of assets into account, decreased to EUR 490 million (659).
• The return on equity for the Group amounted to 19.1 per cent for the period (28.7).
• Net asset value per share reached EUR 21.03 (17.38).
• The fair value reserve after tax on the Group level increased to EUR 846 million (749).

Due to the adoption of the revised accounting standard IAS 19R, the comparison figures for 2012 have been restated and differ from the earlier published figures. The changes concern directly the P&C insurance segment but are consequently reflected in the consolidated items as well.

Outlook for the rest of 2013

Sampo Group's business areas are expected to report good operating results for 2013.

However, the mark-to-market results are, particularly in life insurance, highly dependent on capital market developments. The low interest rate level also creates a challenging environment for reinvestment in fixed income assets.

The P&C insurance operations are expected to reach their long-term combined ratio target of below 95 per cent in 2013 and achieve a combined ratio of 89 - 92 per cent. Nordea's contribution to the Group's profit is expected to be significant.

Please find Sampo Group's results for January - March 2013 as well as a Supplementary Financial Information Package at www.sampo.com/result.

Sampo will arrange a conference call for investors and analysts today at 5 pm Finnish time (3 pm UK time). The call is held in English. Please call [phone] or [phone]. Please be ready to state the ID number 931495 and the password 'Sampo'. The conference call can also be followed from a direct transmission at www.sampo.com/result.

For more information, please contact:

Maria Silander, Press Officer, tel. [phone]

Distribution:
The principal media
www.sampo.com

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Source: Sampo Oyj via Thomson Reuters ONE

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