HELSINKI - Finnish financial company Sampo Oyj announced a 12% year-on-year growth in earnings for the fiscal year 2024, with notable performance in personal customer business during the fourth quarter. The group’s combined expense ratio improved by 1.5 percentage points, supported by positive trends in the Nordic countries and the UK.
Sampo’s underwriting result increased by 13% to €1.316 billion, propelled by strong growth and a slightly better combined expense ratio of 84.3%. The per-share operating result strengthened by 13% to €2.33, driven by higher underwriting results and steady investment returns.
The Solvency II ratio stood at 177% considering the proposed dividend, and the debt ratio was 26.9%. The board proposed a basic dividend of €1.70 per share, which adjusts to €0.34 per share considering the stock split announced on February 5, 2025.
Looking ahead, Sampo anticipates an underwriting result between €1.350 billion and €1.450 billion for 2025, indicating a 3-10% annual growth, and insurance premium revenues of €8.7-9.0 billion.
The financial targets for 2024-2026, presented at the Capital Markets Day on March 6, 2024, included an average annual growth of over 7% in per-share operating result, a combined expense ratio below 85%, a Solvency II ratio between 150-190%, and a debt ratio under 30%.
Sampo’s CEO highlighted the strategic and operational significance of 2024, with robust underwriting results and the completion of the Topdanmark minority stake acquisition, marking the group’s transformation into an integrated non-life insurance company. The CEO expressed confidence for 2025, citing strong renewal rates and digital capabilities.
The company’s outlook for 2025 remains aligned with its financial targets, despite uncertainties related to claims, investment activities, currency fluctuations, and competitive dynamics. The projections are based on the exchange rates as of December 31, 2024.
This news article is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.