Sampo plc Annual General Meeting 24 April Kari Stadigh Group CEO and President
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1 Sampo plc Annual General Meeting 24 April 2014 Kari Stadigh Group CEO and President
2 Sampo Group had an excellent year 2013 EURm 1,800 1,600 1,400 1,200 1, Sampo Group s profit before taxes / / If P&C Mandatum Life Nordea Holding (excl. Nordea) 1,6221,668 Sampo Group
3 Sampo s earnings per share developed favorably EUR EPS and Comprehensive result EPS / /2013 EUR Reported EPS by quarter Q4/12 Q1/13 Q2/13 Q3/13 Q4/13 EPS (reported) EPS (comp. result)
4 Sampo s net asset value per share reached an all time high EUR
5 Reinvesting proceeds continues to be challenging Investment allocation, 31 December 2013 Total EUR 17.9 billion Equities 15% Real estate 2% Other 3% Money market 12% Long term fixed income 68% Investments of Sampo plc, Mandatum Life and If P&C
6 Sampo s fixed income running yield is decreasing gradually 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% Fixed income running yield 12/ / % 5.4% 4.8% 3.9% 4.1% 3.6% 3.7% 2.9% If P&C Mandatum Life
7 Sampo Group s businesses in 2013: If P&C insurance
8 If P&C is the largest insurer in the Nordics Gross written premiums in 2013, EUR billion If 4.7 Tryg 2.7 Gjensidige 2.5 LF RSA Scand. (net) Pohjola Topdanmark Statistics of If: 3 million private customers 330,000 corporate clients circa 6,200 employees 1.4 million claims per year > 50% of claims handled within 24h
9 If P&C s market share by country remained mostly unchanged Others 20% Sweden LF 30% Fennia 10% Finland Others 8% Pohjola 29% Folksam 16% TH/Codan 16% If 18% Lähi Tapiola 27% If 26% (Tryg 2%) Norway Denmark Others 25% Gjensidige 25% Others 35% Tryg 20% Sparebank1 10% Latest figures available Tryg 14% If 24% Alm. Brand 10% Codan 13% If 6% Topdanmark 17% (of which If s share 4%)
10 If P&C s profit before taxes reached an all time high EURm 1,800 1,600 1,400 1,200 1, / / If P&C Mandatum Life Nordea Holding (excl. Nordea) 1,6221,668 Sampo Group
11 If P&C reported best ever combined ratio and cost ratio % Risk ratio Cost ratio Long term target < 95%
12 Standard deviation European insurance groups Average combined ratio (%) against volatility Topdanmark Tryg Sampo Swiss Re Gjensidige Pohjola Mapfre AVERAGE SCOR Hannover Re RSA Generali AXA ZIG Allianz Aviva Munich Re Ageas Combined ratio (CR), % Source: Company reports, figures at group level
13 If s private customers are increasingly satisfied with If s claims handling service 72% 70% 68% 66% 64% 62% 60% 58% 56% 54% 60% Customer satisfaction* 63% 66% 69% 70% *) Customer satisfaction surveys have a scale of 1 5. The percentage shows the share of the highest score (5) in all Nordic countries.
14 Sampo Group s businesses in 2013: Nordea Bank
15 Sampo s Nordea holding valuation difference is at an all time high level EURm 1,600 1, , , , ,200 1, , /10 3/11 6/11 9/11 12/11 3/12 6/12 9/12 12/12 3/13 6/13 9/13 12/13 Valuation difference = Nordea MTM consolidation value
16 Nordea has a unique position in the Nordics Superior customer franchise Global capabilities on par with international peers* Retail Customers Corporates & Institutions Sweden No. of relationships (M) Market position No. of relationships ( 000s) Market position Capital Markets Asset Management 4.2 # #1 2 #1 #1 Norway 1.0 #2 87 #2 Finland Retail market 3.2 # #1 Life & Pension #1 Private Banking #1 Denmark 1.7 #2 50 #1 2 Total Nordea 11.2 #1 625 #1 Note: Illustration excludes Poland (668,000 total customers), Baltic's (406,700 total customers) and Russia (67,000 total customers) *: Ranking in Nordic region Source: Nordea
17 Regulations are a key cost driver Living Wills Insurance Guarantee Scheme Deposit Guarantee Schemes Shadow Banking Investor Compensation schemes Mortgage Directive FTT PRIPs IMD 2 Solvency II Liikanen Structural Reform ELTIF MMFs Recovery & Resolution Banking Union for FMIs MiFID II / MiFIR Basel III CRD IV / CRR Corporate Governance Credit Rating EMIR Data Protection Agencies Regulation Short Selling SEPA End date Remuneration FATCA Payments package MAD Dodd Frank Act IORP II (PSD II) 4 th AML Volcker Rule Bank Account Directive Securities Law Directive Coherence of legislation & OUR CUSTOMERS Benchmarks Banking Regulation Recovery & Resolution Directive AIFMD Transparency Directive CSD regulation UCITS V Leverage Ratio Fundamental Review of the Trading Book Prospectus Directive EU FATCA Long term Financing Source: Nordea NSFR UCITS VI
18 Sampo Group s businesses in 2013: Mandatum Life
19 Mandatum Life reported an all time high level of unit linked reserves EURm 5,000 4,616 4,000 3,833 3,000 2,359 3,124 3,054 2,000 1, ,262 1,752 2,071 1,
20 Mandatum Life s gross written premiums from unit linked business reached an all time high EURm 1,200 1, Unit linked With profit
21 Distribution through Danske Bank was more successful than ever EURm New premiums written by distribution channel in Finland / / /2013 Danske Bank Others Mandatum Life
22 Sampo Group s businesses in 2013: Sampo plc EUR
23 Sampo plc s received dividends on a growth track EURm 1, If Mandatum Life Nordea
24 Sampo is a dividend stock EUR Dividend per share * * Board s proposal to the AGM held on 24 April 2014
25 Development of Sampo s NAV/share* and cumulative dividend is convincing EUR , * from 2004 according to IFRS NAV/share Cumulative dividend TSR, 1/1/2002=100, rhs
26 Sampo continues to be a good investment Sampo and EuroSTOXX indices Total return since 2000 Source: Reuters EcoWin
27 Sampo plc Annual General Meeting 24 April 2014 Kari Stadigh Group CEO and President
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