Sampo Group announced earnings results for the third quarter and nine months ended on September 30, 2018. For the quarter, profit before taxes was EUR 490 million against EUR 1,181 million for the same period a year ago. Profit for the period was EUR 414 million against EUR 1,122 million for the same period a year ago. Earnings per share were EUR 0.69 against EUR 2.01 for the same period a year ago.

For the nine months, profit before taxes was EUR 1,643 million against EUR 2,046 million for the same period a year ago. Profit for the period was EUR 1,397 million against EUR 1,875 million for the same period a year ago. Earnings per share were EUR 2.38 against EUR 3.35 for the same period a year ago. Return on equity (RoE) was 11.2% against 21.4% for the same period a year ago. NAV per share was EUR 24.13 against EUR 25.37 for the same period a year ago.

The company provided earnings guidance for the year of 2018. Sampo Group's business areas are expected to report good operating results for 2018. However, the mark-to-market results are, particularly in life insurance, highly dependent on capital market developments. The continuing low interest rate level also creates a challenging environment for reinvestment in fixed income instruments. If P&C is expected to reach a combined ratio target of 85% - 87% for the full-year 2018. With regard to Topdanmark, reference is made to the profit forecast model that the company publishes quarterly. Nordea's contribution to the Group's profit is expected to be significant.

The company announced retirement of Peter Johansson as CFO as of 1 January 2019. On 8 August 2018 the Board of the company nominated Knut Arne Alsaker as the new Group CFO as of 1 of January 2019. He is currently CFO of If P&C Group and a member of the Sampo Group Executive Committee.