SAMPO Sampo Oyj Class A

Sampo’s Board of Directors’ Report and Financial Statements for 2019 have been published

Sampo’s Board of Directors’ Report and Financial Statements for 2019 have been published

SAMPO PLC                 ANNUAL FINANCIAL REPORT       24 March 2020 at 9:30 am



Sampo’s Board of Directors’ Report and Financial Statements for 2019 have been published

Sampo Group has published its Board of Directors’ Report and Financial Statements for 2019 at 9.

Also available at the same address:

  • Group CEO’s Review by Torbjörn Magnusson, Group CEO and President
  • Video reviews with the management
  • Sampo Group’s Risk Management Report for 2019
  • Sampo Group’s Corporate Governance Statement for 2019
  • Sampo Group’s Remuneration Report for 2019, which is part of the Remuneration Statement available at
  • Annual Reports of Sampo plc’s subsidiaries If P&C, Topdanmark and Mandatum Life for 2019
  • If P&C and Topdanmark’s Corporate Responsibility Reports for 2019

The PDF files of Sampo’s Board of Directors’ Report and Financial Statements, Corporate Governance Statement and Remuneration Report for 2019 are attached to this release.

Sampo Group will publish its Solvency and Financial Conditions Report and Corporate Responsibility Report in May 2020.

SAMPO PLC

Maria Silander

Communications Manager, Media Relations

tel. 1

Distribution:

Nasdaq Helsinki

London Stock Exchange

The principal media

Financial Supervisory Authority

Attachments

EN
24/03/2020

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Reports on Sampo Oyj Class A

Håkon Astrup
  • Håkon Astrup

Solid growth momentum into 2025e

Helped by benign weather with few storms, we expect solid underwriting across the Nordic P&C sector for Q1, with underlying performance further supported by earned repricing momentum and abating claims inflation. The sector is trading at an attractive average 2026e P/E of c15.2x and we see solid capital distribution prospects. We reiterate our recommendations on all our covered sector names and highlight Tryg as our top pick.

Håkon Astrup
  • Håkon Astrup

Sampo Oyj (Buy, TP: EUR9.80) - Minor model adjustments

We have adjusted our estimates to reflect the now completed 4-to-1 share split announced by the board on 5 February. While we forecast unchanged earnings, we have revised our 2025–2027e EPS and DPS due to the increased share count. We do not consider these changes to be material, and we have not changed our BUY recommendation. We have adjusted our target price to EUR9.80 (49).

Sampo: 1 director

A director at Sampo bought 7,500 shares at 41.097EUR and the significance rating of the trade was 57/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing ...

Håkon Astrup
  • Håkon Astrup

Sampo Oyj (Buy, TP: EUR49.00) - Strong underwriting momentum

Against a backdrop of soft financial markets and one-off integration costs, Sampo continues to deliver a solid underwriting performance, with the Q4 adjusted risk ratio improving by 0.3%-points YOY, helped by currency-adjusted GWP growth of 18% YOY. We believe the company’s efforts to mitigate claims inflation and increased frequencies should support growth and earnings, in line with the ambitions from the 2024 CMD, and have raised our 2025–2026e EPS by ~1%. We reiterate our BUY and have raised ...

Håkon Astrup
  • Håkon Astrup

Repricing set to support profitability

The outlook for strong growth momentum in the Nordic P&C sector remains, with the recent rounds of premium repricing yet to take full effect. Furthermore, underwriting profitability is still a key focus, illustrated by Tryg raising its long-term combined ratio target to ~81% at the 2024 CMD. We believe signs of slowing claims inflation, albeit from high levels, together with mostly normal weather, bode well for Q4 underwriting. We have three BUYs and one HOLD, and highlight Sampo as our top sect...

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