supplementary financial information sampo groupdisclaimer this presentation may contain forward-...

Supplementary Financial Information

Sampo Group

January-June 2010

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 assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of various factors.

Important factors that may cause such a difference for Sampo include, but are not limited to: (i) the macroeconomic development, (ii) change in the competitive climate and (iii) developments in capital markets.

This presentation does not imply that Sampo has undertaken to revise these forward-looking statements, beyond what is required by applicable law or applicable stock exchange regulations if and when circumstances arise that will lead to changes compared to the date when these statements were provided.

11 August 2010 2

Sampo Group’s results

11 August 2010 3

433

621

345

518

0

100

200

300

400

500

600

700

1-6/2009 1-6/2010

EURm

Profit before taxes and net profit

Pre-tax profit Net profit

279242

206169

264

192 199

287

334

0

50

100

150

200

250

300

350

400

Q208 Q308 Q408 Q109 Q209 Q309 Q409 Q110 Q210

EURm

Profit before taxes by quarters

Sampo Group *)

Profit before taxes and MTM profit 2006 - June 2010, EURm

1 35

3

974

870

825 43

3

621

1 47

4

746

-2 2

54

3 42

3

1 90

0

773

2 83

0

-3 000

-2 000

-1 000

0

1 000

2 000

3 000

4 000

Sampo Bank sales gainMTM profit / from 2008 onwards total comprehensive incomeProfit before taxes

11 August 2010 4*) Group including Sampo Bank in 2006;2007 pre-tax profit/continuing operations

2006 2007 2008 2009 H1/09 H1/10

EURm Q2/10 Q1/10 Q4/09 Q3/09 Q2/09Insurance premiums written 1,198 1,764 1,077 896 1,036Net income from investments 163 363 259 348 384

Other operating income 6 3 6 6 5

Claims incurred -874 -918 -792 -767 -729Change in liabilities for insurance and investment contracts 26 -759 -61 -17 -165Staff costs -124 -135 -134 -136 -125Other operating expenses -139 -121 -130 -115 -122

Finance costs -29 -35 -25 -23 -21Share of associates' profit/loss 106 124 0 0 0

Profit for the period before taxes 334 287 199 192 264Taxes -62 -41 -51 -44 -46

Profit for the period 273 245 148 148 217

Sampo GroupIncome statement by quarters Q2/09-Q2/10

11 August 2010 5

Earnings per share

11 August 2010 6

0,610,92

3,33

1,38

0,00

0,50

1,00

1,50

2,00

2,50

3,00

3,50

1-6/09 1-6/10

EURm

EPS and Comprehensive result EPS

EPS (reported) EPS (comprehensive result)

0,38

0,27 0,26

0,440,48

0,00

0,20

0,40

0,60

Q2/09 Q3/09 Q4/09 Q1/10 Q2/10

EURm

EPS by quarter

Sampo Group’s net asset value per share

11 August 2010 7

9,21

13,49

8,28

14,63 14,50

0,00

3,00

6,00

9,00

12,00

15,00

18,00

12/2006 12/2007 12/2008 12/2009 6/2010

EUR

Sampo Group’s net asset value 30 June 2010

11 August 2010

2 485

848

5 379

- 854279 8 137

0

2 000

4 000

6 000

8 000

10 000

P&C insur. Life insur. Nordea Plc & elim. Sampo Group

EURm

Nordea at FV

8

Sampo Group profit before taxes January-June 2010

11 August 2010 9

308

52 52

433

333

69

231

-9

621

-100

0

100

200

300

400

500

600

700

P&C Life Nordea Holding *) Sampo Group

EURm1-6/09 1-6/10

*) excl. Nordea

P&C insurance profit before taxesJanuary – June 2010

11 August 201010

2 174

191

-1 612

-440

308

2 358

237

-1 794

-466

333

-3 000

-2 000

-1 000

0

1 000

2 000

3 000

Premiums written,net

Investment income, net

Claims incurred and change in

liabilities

Oper. costs Profit before tax

EURm1-6/09 1-6/10

Life insurance profit before taxesJanuary – June 2010

11 August 2010 11

332251

-489

-37

52

603

245

-731

-44

69

-800

-600

-400

-200

0

200

400

600

800

Premiums written,net

Investment income, net

Claims incurred and change in

liabilities

Oper. costs Profit before tax

EURm1-6/2009 1-6/2010

Holding profit before taxesJanuary – June 2010

11 August 201012

92

-17 -23

5257

-13-52

231 222

-100

-50

0

50

100

150

200

250

Income Operating costs

Finance costs Nordea Profit before taxes

EURm

1-6/2009 1-6/2010

Nordea’s book value on Sampo Group consolidated balance sheet

Nordea in Sampo’s B/S EURm

Acquisition price 5,303.6

Share of Nordea’s net profit (1,182) 242.8

Depreciation -16.5

Deferred tax 4.3

Dividends -204.5

Share of Nordea’s other comprehensive income (EUR 266m) 54.6

Share of Nordea’s other changes in equity (EUR 58m) 12.5

Share of Nordea’s goodwill change( EUR 89m) -18.3

Total 5,378.6

EUR 6.48/share11 August 2010 13

Dividends received by Sampo plc in 2005 - 1-6/2010

11 August 201014

*) Sampo Bank 2005-2006Nordea 2007-2009

249

1 031

519

181 488

103

100

300

200

200 141

75

35

130 80

204

490

1 406

754

511 568

307

-

200

400

600

800

1 000

1 200

1 400

1 600

2005 2006 2007 2008 2009 1-6/10

EURmBanking*)

Mandatum Life

If

Sampo Group’s equity, EURm

102 102

1 527 1 527

5 689 5 818

295 4017 613 7 847

31 Dec 2009 30 June 2010

Fair value reserve

Retained earnings

Invested unrestricted equity

Restricted capital

11 August 201015

Sampo Group’s fair value reserve development*)

11 August 201016

**)

*) after tax**) Nordea not included in FVR as of Q4/2009

316

-9

-544-884

-2 364-2 560

-836

538296

536 401

-3 000

-2 000

-1 000

0

1 000

12/07 3/08 6/08 9/08 12/08 3/09 6/09 9/09 12/09 3/10 6/10

EURm

Fair value reserve by segment

11 August 2010 17

EURm 6/2010 12/2009 12/2008

P&C insurance 159.9 104.5 -413.8

Life insurance 258.1 210.0 -191.6

Holding -1.9 -3.4 -1,759.3

Sampo Group*) 400.9 295.6 -2,363.5*) Nordea not included in FVR as of 2009**) Eliminations included and figures after tax

Fair value reserve development by segment and asset class, 30 June 2010

11 August 2010 18

EURm Fixed income

Equity Derivatives held for trading

Deferred taxes

FVR net

P&C insurance

169.6 47.0 -56.7 159.9

Life insurance

154.7 188.2 6.0 -90.7 258.1

Holding -2.3 -0.4 0.7 -1.9

Sampo Group*)

322.6 213.5 6.0 -141.1 400.9

*) Eliminations included and figures after tax

Sampo Group Economic CapitalReporting principles

Definitions• Economic capital (EC) is used as an internal measure of capital required for

measurable risks the Group is exposed to• EC is defined as the amount of capital to protect the solvency over a one year time

horizon with a probability of 99.5 per cent

EC at company level• EC is calculated in IF P&C and Mandatum Life using a set of calculation methods,

which have been developed for the specific needs of each company • In IF P&C and Mandatum Life EC accounts for market, credit, insurance and

operational risks, as well as the diversification effect between these risks• EC figure calculated and reported by Nordea is used in Sampo-Group reporting.

Because Nordeas reported figures are expressed at 99.97% confidence level they are converted by Sampo into 99,5% confidence level

EC at Group Level• Correlations between companies´ risks are assessed and diversification effect is

calculated• Group wide EC is sum of Companies EC and their diversification effect

11 August 201019

Sampo Group economic capital 9/2009 – 6/2010

11 August 201020

1 14

1

841

1 75

6

3 27

9

1 18

5

930

2 20

3

3 78

3

1 29

3

996

2 31

1

4 02

4

1 310 1 002

2 410

4 131

0

1 500

3 000

4 500

P&C Life Plc (Nordea stake) Sampo Group (incl. diversification effect)

EURm

9/200912/20093/20106/2010

Sampo Group’s economic capital split by risk type, 30 June 2010

Market risk30 %

Credit risk44 %

Insurance risk15 %

Operational risk11 %

Market riskCredit riskInsurance riskOperational risk

11 August 201021

P&C insurance economic capital split by risk type, 30 June 2010

11 August 201022

719

551

221 190 370

1 310

2 848

LOB

di

vers

ific.

atio

n

Liability side adjustm.; 102 Subordinated loans; 93

3 043

0

1 000

2 000

3 000

Insurance risk

Market risk Credit risk Operational risk

Diversific. Total Adj. solv. capital

EURm

*)

*) Part of If’s subordinated loans not included in the current regulatory capital base (but allowed for in QIS4)

Life insurance economic capital split by risk type, 30 June 2010

11 August 201023

271

828

138

20

254

1 002 1 069

Liab. side adjustm. 75

1 144

0

250

500

750

1 000

1 250

Insurance risk

Market risk Credit risk Operational risk

Diversific. Total Adj. solv. capital

EURm

Group economic capital and solvency, 30 June 2010

11 August 201024

1 310

1002

2 410

591

4 131

6 898

7 168

0

1 500

3 000

4 500

6 000

7 500

P&C Life Nordea Diversific. Group EC Adj. group solv. capital

Excess capitalEUR 3bn

Liability side adjustment, If and Mandatum Life

EURm

If’s subloan not included in adjusted group capital

Sampo Group’s solvency capital 30 June 2010, EURm

11 August 201025

If 687Life 230

Nordea 3 384

Plc 20

6 898

Group solvency capital Minimum requirement

4,320

Solvency ratio 160%

Sampo Group solvency 30 June 2010

687 687230 230

3 384 3 040

2020

6 898

0

1 500

3 000

4 500

6 000

EURm

Solvency capitalPlcNordeaLifeIf

11 August 201026

4,320

Group solvency ratio 160%Basel II 174%

3,976

Group Minimum MinimumSolvency Basel II

Return on equity in Sampo Group’s business areas 1-6/2010

11 August 201027

35,4 %

25,0 %

0 %

10 %

20 %

30 %

40 %

P&C Insurance Life Insurance

Target ROE

ROE 1-6/2010 (annualised)

Sampo Group's investment allocation, 30 June 2010

11 August 201028

Investments of Sampo plc, Mandatum Life and If P&C

Money Market10 %

Bonds70 %Equity

16 %

Private Equity2 %

Other2 %

Total EUR 17.0 billion

Sampo Group asset allocation

11 August 2010 29

Total Group 21,635 16,437 17,755 16,979

09/09 12/09 03/10 06/10

Money Market 10% 21% 2% 4% 11% 93% 7% 14% 93% 7% 13% 81%Bonds 80% 51% 0% 85% 58% 0% 80% 53% 0% 80% 51% 0%Equity 9% 19% 97% 11% 23% 0% 12% 25% 2% 12% 25% 7%Private Equity 0% 4% 0% 0% 4% 4% 0% 4% 2% 0% 4% 8%Other 0% 5% 0% 0% 5% 3% 0% 5% 2% 1% 6% 3%

10,764

5,2105,660

10,513

5,450

474

11,339

5,657

759

11,188

5,547

2450

2,000

4,000

6,000

8,000

10,000

12,000

If P&C

Mandatum Life

Sampo Plc

If P&C

Mandatum Life

Sampo Plc

If P&C

Mandatum Life

Sampo Plc

If P&C

Mandatum Life

Sampo Plc

Fixed income allocation Sampo Group, 30 June 2010

11 August 201030

Europemoneymarket; 9 %Scandinavia

moneymarket; 4 %

Europe;19 %

Scandinavia;61 %

US ; 6 %Other; 2 %


Fixed income allocation by sectorSampo Group, 30 June 2010

11 August 201031

Moneymarket; 12 %

Banks; 22 %

Coveredbonds; 25 %

Government;9 %

Corporate;32 %


11 August 201032

Equity allocation Sampo Group, 30 June 2010

Scandinavia ; 33 %

Finland ; 22 %

Western Europe ; 12

%

East Europe; 4 %

North America; 11

%

Latin America; 3 %

Far East; 12 %

Japan ; 3 %


Sensitivity of Group investments to market risks on 30 June 2010

11 August 2010

EURm If P&CMandatum

Life Sampo plcSampo Group

Equities -10% -132 -139 -2 -274+10% 132 139 2 274

Interest rates -100 bps 203 93 0 296+100 bps -192 -90 0 -283

Alternative -10% -9 -57 -3 -69+10% 9 57 3 69

Currency -5% -4 (SEK) 30 (EUR) 4(EUR) -+5% 4 (SEK) -30 (EUR) -4(EUR) -

The changes of interest rates have a strong effect to the reinvestment risk of the insurance companies. The sensitivities include the effects of derivative positions, but do not capture indirect effects, like the impact of the changes of the discount rates in the value in force. All sensitivities are before taxes. The scenario definitions assume an uniform movement of the whole underlying market.

33

Sampo plc’s ownership structure, 31 July 2010

11 August 201034

* Entirely owned by the Finnish State

Solidium* 14,1%

Varma Mutual Pension

8,5%

Ilmarinen Mutual Pension

2,7%

Björn Wahlroos 2,1%

Kaleva Mutual Insurance

1,1%

Other domestic owners %

22,6%

Foreign and nominee

registered owners 48,8%

Sampo Group staff, 30 June 2010, FTE

11 August 201035

Sampo Group Staff *) 30 June 2010 31 December 2009

P&C INSURANCE 6,381 6,583

Finland 1,706 1,763Sweden 1,858 1,880Norway 1,516 1,587

Baltics, Russia, Denmark and other 1,301 1,353

LIFE INSURANCE 467 452

Finland 359 350

Baltics and other 108 102

HOLDING 51 52

Sampo plc (Finland) 51 52

TOTAL SAMPO GROUP 6,899 7,087*) Full-time equivalents

P&C INSURANCE

11 August 2010 36

P&C insurance Profit before taxes and MTM profit 2005 –H1/10, EURm

11 August 2010

800

730

534

549 64

4

308

333

-19

1 35

3

438

414

-300

0

300

600

900

1 200

1 500

2005 2006 2007 2008 2009 1-6/09 1-6/10

Profit before taxesMTM profit, H1/09 and H1/10 comprehensive result

37

EURm Q2/10 Q1/10 Q4/09 Q3/09 Q2/09

Insurance premiums written 942 1,416 787 715 848Net income from investments 120 117 110 93 90Other operating income 6 5 6 6 5

Claims incurred -647 -710 -630 -613 -604Change in liabilities for insurance and investment contracts 30 -467 144 201 57Staff costs -113 -122 -123 -127 -114Other operating expenses -123 -108 -118 -100 -110




P&C insurance Income statement by quarters Q2/09-Q2/10

11 August 201038

Breakdown of gross premiums written in If P&C

1 162

843

453

65

by business area

PrivateCommercialIndustrialBaltic and Russia

882

732

622

223 65

by country

NorwaySwedenFinland DenmarkBaltic and Russia

11 August 201039

Total EUR 2,523 million

If GWP change by business area 1-6/2010 vs. 1-6/2009, %

11 August 201040

-19,1%

0,7%

9,1%

12,3%

8,0%

-27,0%

-9,1%

-1,6%

1,3%

-2,6%

-20,1%

-4,4%

-0,1%

4,0%

0,3%

-30,0% -20,0% -10,0% 0,0% 10,0%

BALTIC AND RUSSIA

INDUSTRIAL

COMMERCIAL

PRIVATE

IF GROUP

Growth in SEK Growth in EUR Fixed currency

If P&C Insurance result by quarters

11 August 201041

Profit and loss account , EURm Q2/10 Q1/10 Q4/09 Q3/09 Q2/09

Premiums earned 972 949 931 916 904

Claims incurred -708 -772 -692 -675 -663

Operating expenses -167 -160 -172 -157 -158

Other technical income and expenses 0 0 -1 0 1Allocated investment return transferred from the non-technical account 46 51 45 51 52

Technical result 143 68 114 133 136

Investment result 127 125 117 100 97Allocated investment return transferred to the technical account -60 -66 -61 -65 -67

Other income and expenses -2 -2 -1 -2 -1

Operating result 208 125 168 168 164

If P&C’s technical result by business area,January – June 2010

110

54

35

8 2

210

0

50

100

150

200

Private Commercial Industrial Baltic and Russia

Other Group

EURm

11 August 201042

If P&C’s technical result by country,January – June 2010

76

54

60

10 8 2

210

0

50

100

150

200

Norway Sweden Finland Denmark Baltic and Russia

Other Group

EURm

11 August 201043

If P&C’s combined ratio development

74,3 67 66,2 65,9 66,9 68,1 68,0 68,7 70,6

26,625,6 24,3 24 23,7 23,7 24,1 23,8 23,5

0

20

40

60

80

100

2003 2004 2005 2006 2007 2008 2009 1-6/09 1-6/10

%

Risk ratio Cost ratio

11 August 201044

If P&C’s solvency capital

EURm 31 June 2010 31 December 2009

Shareholders equity 2,485 2,199

Subordinated notes 414 414

Deferred tax assets and liabilities, net 369 330

Solvency capital 3,268 2,943

11 August 201045

Solvency capital & solvency ratio for If P&C

54 %

70 %

88 %

74 % 71 %66 %

77 % 81 %

0 %

20 %

40 %

60 %

80 %

100 %

0

1 000

2 000

3 000

2003 2004 2005 2006 2007 2008 2009 Q2/10

%EURm

Solvency capital (lhs) Solvency ratio (rhs)

11 August 201046

If P&C’s reserve strength

135

%

144

%

152

%

161

%

166

%

169

%

171

%

173

%

192

%

245

%

246

%

253

%

256

%

240

%

240

%

237

%

0 %

50 %

100 %

150 %

200 %

250 %

300 %

2003 2004 2005 2006 2007 2008 2009 Q2/10

Reserves/NWP Reserves/Claims paid

11 August 201047

If P&C - key figures by quarter

Q210 Q110 Q409 Q309 Q209 Q109 Q408 Q308 Q208

Premiums earned, net (EURm) 973 950 932 907 904 892 924 972 962

Technical result (EURm) 144 68 113 132 136 105 129 158 147

Risk ratio (%) 66.5 74.8 67.6 66.9 66.7 70.7 67.4 67.3 67.2

Cost ratio (%) 23.4 23.5 25.0 24.0 24.0 23.5 24.5 23.3 23.6

Expense ratio (%) 17.2 16.9 18.5 17.3 17.4 17.2 18.2 17.1 17.2

Combined ratio (%) 89.9 98.2 92.7 90.9 90.7 94.2 91.9 90.6 90.9

Insurance margin (%) 14.7 7.2 12.2 14.6 15.0 11.8 14.0 16.2 15.3

11 August 201048

If P&C - key figures by business area Q2/2010

91,3% 92,5%90,2% 88,4%

2008 2009 Q2/09 Q2/10

11 August 201049

PRIVATE

HIGHLIGHTSCombined ratio improved by 1.8 %-points compared to last yearTechnical result improved by 17%

KEY FIGURESGWP: EUR 608m (535)NPE: EUR 538 m (481)Technical result: EUR 84 m (72)Risk ratio: 64.8% (65.8%)Cost ratio: 23.6% (24.4%) Insurance margin: 15.8% (15.0%)

Combined ratio

92,4% 92,6% 93,3% 94,6%

2008 2009 Q2/09 Q2/10

COMMERCIAL

HIGHLIGHTS Combined ratio deteriorated by 1.3 %-points

compared to last year due to large claims GWP went up by13%

KEY FIGURES GWP: EUR 212 m (188) NPE: EUR 301 m (281) Technical result: EUR 30 m (35) Risk ratio: 70.2% (69.2%) Cost ratio: 24.3% (24.1%) Insurance margin: 9.9% (12.4%)

Combined ratio

If P&C - key figures by business area Q2/2010

93,4%90,7%

87,7% 87,0%

2008 2009 Q2/09 Q2/10

11 August 201050

INDUSTRIALCombined ratio

BALTIC AND RUSSIA

92,6% 91,7% 90,3%

84,5%

2008 2009 Q2/09 Q2/10

HIGHLIGHTS Premiums increased by 4.8% Risk ratio increased by 0.6 %-points while cost ratio decreased by 1.3 %-points

KEY FIGURES GWP: EUR 158 m (151) NPE: EUR 103 m (104) Technical result: EUR 21m (21) Risk ratio: 69.7% (69.1%) Cost ratio: 17.4% (18.7%) Insurance margin: 20.1% (20.8%)

HIGHLIGHTS Combined ratio improved by 5.8 %-points due

to lower risk ratio, which improved by 6.3 %-points Premiums growth was negative

KEY FIGURES GWP: EUR 30 m (37) NPE: EUR 31m (39) Technical result EUR 7m (6) Risk ratio: 48.2% (54.5%) Cost ratio: 36.3% (35.7%) Insurance margin: 21.6% (15.5%)

Combined ratio

11 August 2010 51

If P&C - key figures by country Q2/2010

Combined ratio93,3% 92,0%

87,9%81,0%

2008 2009 Q2/09 Q2/10

92,0% 95,2% 92,9%100,8%

2008 2009 Q2/09 Q2/10

91,9% 93,7%

107,5%

87,6%

2008 2009 Q2/09 Q2/10

NO

RW

AY

GWP: EUR 370 m (331) NPE: EUR 367 m (326) Technical result: EUR 86 m (58) Risk ratio: 58.5% (64.7%) Cost ratio: 22.5% (23.2%) Insurance margin: 23.5% (17.8%)



GWP: EUR 79m (68) NPE: EUR 82m (75) Technical result: EUR 14m (-1) Risk ratio: 59.7% (79.7%) Cost ratio: 27.9% (27.8%) Insurance margin: 17.0% (-1.2%)FI

NLA

ND

SW

ED

EN

DE

NM

AR

K

89,4% 88,5% 87,2% 93,1%

2008 2009 Q2/09 Q2/10

Combined ratio Combined ratio

Combined ratio

LIFE INSURANCE

11 August 2010 52

Life insurance Profit before taxes and MTM profit 2005 –H1/10, EURm

233 29

5 342

140

121 52 69

462

386

106

-511

658

166 10

0

-600

-400

-200

0

200

400

600

2005 2006 2007 2008 2009 H1/09 H1/10

EURmProfit before taxesMTM profit, H1/09 and H1/10 comprehensive result

11 August 201053

EURm Q2/10 Q1/10 Q4/09 Q3/09 Q2/09

Insurance premiums written 256 348 289 181 188Net income from investments 31 214 133 244 201Other operating income 0 0 0 0

Claims incurred -227 -208 -162 -154 -125Change in liabilities for insurance and investment contracts -4 -292 -205 -217 -222Staff costs -8 -9 -9 -7 -7Other operating expenses -14 -14 -9 -13 -9




Life insurance Income statement by quarters Q2/09-Q2/10

11 August 201054

11 August 2010 55

Life Insurance profit by components, EURm

*Includes guaranteed interest, bonuses and change in the reserves of the above items**result of unit-linked business EURm -1,8

1-6/2010 1-6/2009

Net investment income 244.5 251.3- Transferred to expense result -6.8 -5.2- Return on unit-linked policies -92.3 -117.7- Return on with-profit policies* -84.3 -76.9

INVESTMENT RESULT 61.0 51.4

EXPENSE RESULT** -0.4 -1.4

RISK RESULT 9.9 7.6

OTHERS -1.7 -5.3PROFIT BEFORE TAXES 68.8 52.4

Change in the market value of investments 66.7 162.0

PROFIT AT MARKET VALUES 135.6 214.4

Mandatum Life breakdown of premiums written & insurance savings

11 August 201056

1 067

903

568121348

3 866

44 18

Insurance savings, EURm6/2010

103

62

238

3230

128

2

Premiums written, EURm1-6/2010*)

Unit-linked lifeUnit-linked pensionUnit-linked capital redemptionUnit-linked BalticOther lifeOther pensionOther capital redemptionOther Baltic

*) differs from P/L due to eliminations within Life group

Mandatum Life - Net premiums

11 August 201057

649 660618

529

803

332

603

0

200

400

600

800

2005 2006 2007 2008 2009 1-6/09 1-6/10

EURm

Mandatum Life’s market share in Finland

11 August 2010 58

17,919,5 20,4 19,8 19,3

24,8 26,0

25,5

20,8

25,222,4 21,5

27,830,2

0

5

10

15

20

25

30

35

2004 2005 2006 2007 2008 2009 Q2/2010

%

All products

Unit-linked

Mandatum Life technical reserves traditional vs. unit-linked

0

2 000

4 000

6 000

2002 2003 2004 2005 2006 2007 2008 2009 1-6/2010

EURm

Guaranteed interest rates Unit-linked

11 August 201059

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Solvency of Mandatum Life Group, EURm

1-6/2010 2009Solvency capital

Capital and reserves 838 738Dividend payment 0 0Subordinated capital 100 100Unrealised gains 14 15Deferred taxes from Fair Value Reserve 91 74Deferred taxes on profit brought forward 33 17Other items -13 -14Total 1,063 930

Technical provisionsTechnical provisions on own account 7,131 6,786- 75% of t/p in unit linked insurance -1,999 -1,769Total 5,132 5,017

Solvency ratio % of technical reserves 20.7 18,5

EURm Q2/10 Q1/10 Q4/09 Q3/09 Q2/09Insurance premiums written - - - - -Net income from investments 15 34 17 6 92Other operating income 4 4 4 3 4

Claims incurred - - - - -Change in liabilities for insurance and investment contracts - - - - -Staff costs -3 -4 -3 -2 -4Other operating expenses -3 -3 -4 -3 -5

Finance costs -22 -30 -19 -16 -14Share of associates' profit/loss 106 124 - - -

Profit for the period before taxes 96 126 -5 -12 74Taxes 1 -1 2 3 -1

Profit for the period 96 126 -3 -9 72

Holding CompanyIncome statement by quarters Q2/09-Q2/10

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OUTLOOK

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Sampo Group’s outlook for the rest of 2010

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63

• Global economic recovery is well under way and is expected to continue despite European

debt issues and some other factors creating uncertainty in the capital markets.

• Sampo Group is expected to report a good result for 2010 with a continuing good profitability

of its insurance operations supported by the share of Nordea’s profit.

• If P&C is expected to reach its long-term combined ratio target of below 95 per cent in 2010

and achieve a combined ratio between 92 and 94 per cent. Profit is expected to remain on a

very good level. The macro economic situation will continue to dampen the premium growth

but has a limited impact on profitability.

• Mandatum Life’s marked-to-market profit is highly dependent on capital markets and is

expected to remain good. Reported profit is foreseen to reach year 2009 level. The company

seeks further growth in the unit-linked volumes.

• The associated company, Nordea Bank AB, is expected to contribute significantly to the

Group profit in 2010.

Supplementary Financial Information

Sampo Group

January - June 2010

supplementary financial information sampo groupdisclaimer this presentation may contain forward-...

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