The Board of Directors of
The financial targets and updated strategic framework will be presented in more detail at
Strategy and objectives
First, Sampo’s ambition is to organically grow P&C underwriting profits by a mid-single digit percentage per annum on average from the 2020 level excluding COVID-19 effects. The Group will target a combined ratio below 86 per cent for the period, and its largest operation, If P&C, will target a combined ratio below 85 per cent. The group’s M&A ambition is limited to bolt-on transactions within current markets.
Second,
Third, the Group will deliver attractive capital returns.
In addition to its dividend,
FINANCIAL TARGETS FOR 2021-2023
Group P&C insurance operations
- Ambition to grow underwriting profits by mid-single digit percentage per annum on average from the 2020 level excluding COVID-19 effects
- Group combined ratio below 86 per cent
If
- Combined ratio below 85 per cent
Hastings
- Operating ratio* below 88 per cent
- Calendar year loss ratio** below 76 per cent
*) Calculation formula: (claims + operating expenses + operational D&A)/net revenue excluding investment income
**) Consistent with historical Hastings disclosures, equivalent to If risk ratio.
Group capital management
- Solvency II ratio 170 – 190 per cent.
- Financial leverage* below 30 per cent
- Dividend payout ratio at least 70 per cent of net profit excluding extraordinary items
- Progressive insurance dividend
- Return excess capital to shareholders
*) Calculation formula: financial debt/(financial debt + IFRS equity).
CAPITAL MARKETS DAY
The Capital Markets Day can be followed live at www.sampo.com/cmd. Participants will have an opportunity to ask questions at the Q&A sessions.
A recorded version of the Capital Markets Day presentations will be available later at www.sampo.com.
For more information, please contact:
Head of Investor Relations and Group Communications
tel. +358 10 516 0030
Mirko Hurmerinta
IR & Communications Specialist
tel. +358 10 516 0032
Communications Manager, Media Relations
tel. +358 10 516 0031
Distribution:
Nasdaq
The principal media
www.sampo.com
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