In addition, Sampo plc has issued subordinated notes of EUR 1,486 million (494). The amount of subordinated notes increased due to the financing of the acquisition of Hastings. No CPs were outstanding (0). The average interest, net of interest rate swaps, on Sampo plc's debt as of 31 December 2020 was 1.6 per cent (1.2). More information on Sampo Group's outstanding debt issues is available at https://www.globenewswire.com/Tracker?data=SbS3nDD_-OuDXUw-hCq936jEhiZld55E3NavWzBd4RIg61QfqL8bM-_1btepVMn9Qz5-YX9f9Ei6nB9PiOlF8Q5Ar2d8D9R4C9XSLd8j6y-rY5ZZCstOHZ42GVXvFPmk www.sampo.com/debtfinancing. OUTLOOK Outlook for 2021 Sampo Group's insurance businesses are expected to report good insurance technical results for 2021, although the mark-to-market component of investment returns will be significantly influenced by capital markets' developments, particularly in life insurance. If P&C is expected to reach a combined ratio of below 85 per cent in 2021. With regard to Topdanmark, reference is made to the profit forecast model that the company publishes on a quarterly basis. Hastings remains well positioned and expects to further improve its loss ratio and overall results, despite some market uncertainty from COVID-19, regulatory reform and Brexit. Nordea continues to focus on creating great customer experiences, growing income and improving operational efficiency. The results are progressing well towards 2022 targets. The major risks and uncertainties for the Group in the near-term In its current day-to-day business activities Sampo Group is exposed to various risks and uncertainties, mainly through its separately managed major business units. Major risks affecting the Group companies' profitability and its variation are market, credit, insurance and operational risks that are quantified independently by the major business units. At the group level, sources of risks are the same, although they are not directly additive due to the effects of diversification. Uncertainties in the form of major unforeseen events may have an immediate impact on the Group's profitability. The identification of unforeseen events is easier than the estimation of their probabilities, timing, and potential outcomes. Currently, the COVID-19 pandemic and the measures taken to contain the virus are causing significant negative effects on economies and uncertainties on capital market development. There are also a number of widely identified macroeconomic, political and other sources of uncertainty which can, in various ways, affect the financial services industry in a negative manner. Other sources of uncertainty are unforeseen structural changes in the business environment and already identified trends and potential wide-impact events. These external drivers may have a long-term impact on how Sampo Group's business will be conducted. Examples of identified trends are technological developments in areas such as artificial intelligence and digitalization, demographic changes, and sustainability issues that may also have profound effects on companies within the financial sector. DIVIDEND PROPOSAL The parent company's distributable capital and reserves totaled EUR 7 250 153 463,79 of which profit for the financial year 2020 was EUR 699 633 592,61. The Board proposes to the Annual General Meeting a dividend of EUR 1.70 per share to the company's 555,351,850 shares. The dividends to be paid are EUR 944,098,145.00 in total. The remainder of the funds are left in the equity. The dividend will be paid to the shareholders registered in the Register of Shareholders held by Euroclear Finland Ltd as the record date of 21 May 2021. The Board proposes that the dividend be paid on 28 May 2021. No significant changes have taken place in the company's financial position since the end of the financial year. The impairment of Nordea shares had no impact on Sampo plc's distributable capital and reserves. The company's liquidity position is good and in the view of the Board, the proposed distribution does not jeopardize the company's ability to fulfill its obligations. SAMPO PLC Board of Directors For more information, please contact: Knut Arne Alsaker, Group CFO, tel. +358 10 516 0010 Jarmo Salonen, Head of Investor Relations and Group Communications, tel. +358 10 516 0030 Maria Silander, Communications Manager, Media Relations, tel. +358 10 516 0031 Conference call An English-language conference call for investors and analysts will be arranged at 4 pm Finnish time (2 pm UK time). Please call tel. +1 631 913 1422, +44 33 3300 0804, +46 8 5664 2651, or +358 9 8171 0310. The conference code is 89421852#. The conference call can also be followed live at https://www.globenewswire.com/Tracker?data=SbS3nDD_-OuDXUw-hCq93xjKni6hc-px449eIPT0tWAPYExZBYanC39qANjzq4o-Xg5vYGg832N9Ct-pmU0jsZ1Uqde-y6Hq5OJxTqTtBR8= www.sampo.com/result. A recorded version will later be available at the same address. In addition, the Supplementary Financial Information Package is available at https://www.globenewswire.com/Tracker?data=SbS3nDD_-OuDXUw-hCq93xjKni6hc-px449eIPT0tWDg4iOEIt6nGP17wd8nmpn9gapyb_i93qsCxOrksTq2l3_TKYJYXjWNXYzwnEF-pbg= www.sampo.com/result. Sampo will publish the Interim Statement for January - March 2021 on 5 May 2021. Distribution: Nasdaq Helsinki London Stock Exchange The principal media Financial Supervisory Authority www.sampo.com Attachment -- Financial Statement Release 2020 https://ml-eu.globenewswire.com/Resource/Download/ad0c843a-0e7f-4742-bce4-7fd5f198960c
(END) Dow Jones Newswires
02-11-21 0250ET