Sampo plc Annual General Meeting 2017 Kari Stadigh Group CEO and President
2016 was a good year for Sampo Group EURm 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0-200 Sampo Group profit before taxes by segment 1,888 1,871 1,759 1,616 1,668 751 635 680 653 773 136 153 163 181 210 858 929 931 960 883-30 -45-12 -1 6 2012 2013 2014 2015 2016 If P&C Mandatum Life Nordea Holding excl. Nordea
Earnings per share were stable EPS and Comprehensive result EPS Reported EPS by quarter EUR 3.60 3.20 2.80 2.40 2.00 1.60 1.20 0.80 0.40 0.00 2.96 2.95 2.79 2015 2016 3.14 EUR 0.90 0.80 0.70 0.60 0.50 0.40 0.30 0.20 0.10 0.00 0.78 0.82 0.71 0.65 0.65 0.75 0.71 0.84 EPS (reported) EPS (comp. result)
Net asset value per share continued to increase EUR 28.00 24.00 22.15 22.63 23.79 24.86 20.00 17.79 17.38 16.00 13.49 14.63 14.05 12.00 8.00 8.28 4.00 0.00 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
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%
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%
Best-ever combined ratio, even without one-offs 110.0% Combined ratio excluding the one-offs is 86.1%. 100.0% 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% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Combined ratio Long-term target <95%
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. 2016 +5% +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
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 2007 2016 1,297 15,760 14,230 519 22,641 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 1,370 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Tier 1 capital; left scale Dividends, total; right scale EURm 3,000 2,500 2,000 1,500 1,000 500 0
Record-high savings and investments in 2016 Nordea s Assets under Management grew to EUR 322.7 billion end of Q4/2016, which is the highest ever in the history of the company. 288.2 322.7 Q4/2015 Q4/2016
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 4.0 3.9 3.8 Handelsbanken DnB 2.3 2.1 0.0 2.0 4.0 6.0 8.0 10.0 12.0 Million
Unit-linked reserves at a new record EURm 12,000 With-profit and unit-linked technical reserves of Mandatum Life 31 December 2016 10,000 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 2,000 0 4,621 4,487 4,431 4,410 4,249 4,071 3,927 3,837 3,818 3,679 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 With-profit Segregated assets Unit-linked
Life insurance companies in Finland Return on investment assets 2016 per annum 2009-2016 10.0% 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. 2014-2016 Nordea Life Finland* OP Life** Aktia Finland* Fennia Life LähiTapiola Life** Varma Ilmarinen Elo***
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 2016. 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.
Sampo s Topdanmark ownership closing on 50 per cent DKK 250 200 Topdanmark share price development and Sampo Group ownership 49.3% Sampo Group s share of votes, % 50 46 42 150 38 100 50 23.6% 25.4% 28.0% 30.4% 32.9% 33.3% 34 30 26 0 22 1/2011 1/2012 1/2013 1/2014 1/2015 1/2016 7 Sept 2016 26 April 2017
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.
Sampo plc
Internal dividends received by Sampo plc EURm 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 1,555 1,220 551 1,067 883 533 125 754 744 756 768 370 35 293 293* 684 200 511 568 204 250 224 100 100 80 100 130 100 559 519 200 488 540 544 406 490 597 587 586 181 125 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017** 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 2016. 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 2017. If P&C normally pays its dividend towards the end of the calendar year.
Eight consecutive year of growth in Sampo dividends EUR 2.40 2.20 2.00 1.80 1.60 1.40 1.20 1.00 0.80 0.60 0.40 0.20 0.00 0.80 1.00 1.15 1.20 1.35 1.65 1.95 2.15 2.30 2008 2009 2010 2011 2012 2013 2014 2015 2016
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% 2012 2013 2014 2015 2016 Annual dividend yield, calculated using the year-end share price
Sampo s 10Y TSR vs. EuroStoxx 600 Banks and Insurance -indices Market cap EUR 26 billion 26 April 2017 Source: Thomson Reuters Datastream
Sampo plc Annual General Meeting 2017 Kari Stadigh Group CEO and President