Sampo plc Annual General Meeting Kari Stadigh Group CEO and President

Transcription

1 Sampo plc Annual General Meeting 2017 Kari Stadigh Group CEO and President

2 2016 was a good year for Sampo Group EURm 2,000 1,800 1,600 1,400 1,200 1, Sampo Group profit before taxes by segment 1,888 1,871 1,759 1,616 1, If P&C Mandatum Life Nordea Holding excl. Nordea

3 Earnings per share were stable EPS and Comprehensive result EPS Reported EPS by quarter EUR EUR EPS (reported) EPS (comp. result)

4 Net asset value per share continued to increase EUR

5 Sampo Group investments exceed EUR 20 billion on 31 December 2016 Total EUR 20.7 billion Investment allocation, Sampo Group, 31 December 2016 Private equity 1% Real estate 1% Other 2% Money market 16% Investment assets by company, 31 December 2016 Sampo plc 9% Equities 16% Public sector 6% Other fixed income 57% Mandatum Life 32% If P&C 59%

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7 Nordic P&C insurance market shares in 2015 Other 29% If P&C 17% Tryg 9% LähiTapiola 4% LF 9% Pohjola 5% Folksam 5% Topdanmark 5% Gjensidige 8% Codan (RSA) 9%

8 Best-ever combined ratio, even without one-offs 110.0% Combined ratio excluding the one-offs is 86.1% % Combined ratio excluding the one-offs is 86.5%. 90.0% 80.0% 100.9% 94.9% 91.9% 89.9% 90.6% 91.8% 92.1% 92.8% 92.0% 88.9% 88.1% 87.7% 85.4% 84.4% 70.0% Combined ratio Long-term target <95%

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10 Nordea s financial highlights Stable environment and low growth Income Total revenues Net interest income Fee and commission income 2016 vs. 2015* Q4/16 vs. Q4/15* -1% -3% +1% +5% Flat +6% Costs Total costs Excl. Group projects 2018 vs % +2% Flat +10% +7% Continued high activity level in 2017 Credit quality Loan loss level Credit quality 15 bps Largely unchanged in the coming quarter 16 bps: +90% stem from Oil and Offshore Impaired loans are down Capital and dividend CET 1 ratio 18.4% (16.5%) Dividend EUR 0.65 per share (0.64) * In local currencies and excluding non-recurring items Source: Nordea

11 Nordea has a strong capital position EURm 30,000 28,000 26,000 24,000 22,000 20,000 18,000 16,000 14,000 12,000 10,000 Nordea s Tier 1 capital and dividends paid ,297 15,760 14, ,641 21,049 19,577 1,168 1,006 1,048 26,516 27,555 25,588 23,953 24,444 2,584 2,625 2,501 1,734 1, Tier 1 capital; left scale Dividends, total; right scale EURm 3,000 2,500 2,000 1,500 1,

12 Record-high savings and investments in 2016 Nordea s Assets under Management grew to EUR billion end of Q4/2016, which is the highest ever in the history of the company Q4/2015 Q4/2016

13 Nordea has the largest number of private customers among the Nordic banks Number of private customers, million Nordea 10.0 Swedbank 7.2 SEB OP Danske Bank Handelsbanken DnB Million

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15 Unit-linked reserves at a new record EURm 12,000 With-profit and unit-linked technical reserves of Mandatum Life 31 December ,000 8,000 5,312 5,858 6,440 6,000 4,000 2,071 1,637 2,359 3,124 3,054 3,833 4,616 1,228 1,196 1,142 2, ,621 4,487 4,431 4,410 4,249 4,071 3,927 3,837 3,818 3, With-profit Segregated assets Unit-linked

16 Life insurance companies in Finland Return on investment assets 2016 per annum % 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% 7.2% 7.6% 5.9% 8.6% 2.0% 4.7% 3.1% 5.4% 3.6% 5.3% 0.6% 5.4% 4.3% 6.1% 2.2% 5.5% 4.7% 6.9% 4.8% 7.1% 5.6% 5.6% Mandatum Life Kaleva * figures Q4/2015 ** figures Q2/2016 *** p.a Nordea Life Finland* OP Life** Aktia Finland* Fennia Life LähiTapiola Life** Varma Ilmarinen Elo***

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18 Sampo plc made a Mandatory Bid on Topdanmark shares in the Autumn of 2016 Sampo plc announced on 7 September 2016 the obligation to make a mandatory offer to the shareholders of Topdanmark A/S. The obligation arose as a result of Sampo in the period from 6 September 2016 until 7 September having acquired 200,000 Topdanmark shares in the market and thereby crossing the applicable Danish threshold of one third of the total outstanding voting rights of Topdanmark. In the mandatory offer, Sampo offered to acquire all outstanding Topdanmark shares (certain exceptions apply). The cash price offered was DKK 183 for each share issued by Topdanmark. The offer period commenced on 27 September 2016 and expired on 25 October As a result of the offer, Sampo plc acquired altogether 7,374,306 Topdanmark shares and held 41.1 per cent of all Topdanmark shares on 26 October 2016.

19 Sampo s Topdanmark ownership closing on 50 per cent DKK Topdanmark share price development and Sampo Group ownership 49.3% Sampo Group s share of votes, % % 25.4% 28.0% 30.4% 32.9% 33.3% /2011 1/2012 1/2013 1/2014 1/2015 1/ Sept April 2017

20 Decisions of Topdanmark s Annual General Meeting The authorization earlier given to the Board of Directors to acquire the company s own shares was revoked. Torbjörn Magnusson was elected Chairman of the Board of Directors. Ricard Wennerklint and Petri Niemisvirta were elected new members of the Board of Directors. The Company's share capital will be reduced by a total of 5,000,000 own shares to DKK 90,000,000.

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22 Internal dividends received by Sampo plc EURm 1,800 1,600 1,400 1,200 1, ,555 1, , * ** If P&C If P&C extra dividend Mandatum Life Nordea * If P&C made a sales gain in connection to the mandatory offer on Topdanmark shares and paid an extra SEK 2.8 billion (EUR 293 million) dividend to Sampo plc on 22 September In December 2016 If P&C paid a normal dividend of SEK 5.8 billion (EUR 586 million) to Sampo plc. ** A dividend of EUR 125 million is planned to be paid by Mandatum Life during the first quarter of If P&C normally pays its dividend towards the end of the calendar year.

23 Eight consecutive year of growth in Sampo dividends EUR

24 Sampo plc dividend yield, % 6.0% 5.0% 5.5% 4.6% 5.0% 4.6% 5.4% 4.0% 3.0% 2.0% 1.0% 0.0% Annual dividend yield, calculated using the year-end share price

25 Sampo s 10Y TSR vs. EuroStoxx 600 Banks and Insurance -indices Market cap EUR 26 billion 26 April 2017 Source: Thomson Reuters Datastream

26 Sampo plc Annual General Meeting 2017 Kari Stadigh Group CEO and President