Sampo (SAMPO) investor relations material

Executive summary

• Q3 like-for-like growth was 6%; underwriting result rose 9% on a currency-adjusted basis to EUR 435m, with an 82.6% combined ratio.

• 1–9 operating EPS increased 8% to EUR 0.41; currency-adjusted underwriting result rose 7% to EUR 1,221m.

• FY 2026 insurance revenue and underwriting result outlooks were raised after broad-based growth and favourable claims development.

Financial highlights

• 1–9 insurance revenue was EUR 7,303m versus EUR 6,755m; GWP was EUR 8,803m versus EUR 8,461m.

• 1–9 operating result rose 6% to EUR 1,096m; net profit fell to EUR 687m from EUR 1,460m, which included a EUR 355m NOBA IPO gain.

• Q3 insurance revenue rose to EUR 2,503m from EUR 2,303m; underwriting result increased to EUR 435m from EUR 392m.

• Q3 operating EPS was EUR 0.14, unchanged YoY; reported EPS was EUR 0.10 versus EUR 0.28 as net financial result declined.

• Q3 fixed-income net losses were EUR 253m; net investment income was negative EUR 63m, while core portfolio interest and dividend income was EUR 163m.

Outlook and guidance

• FY 2026 insurance revenue outlook raised to EUR 9.75–9.85bn from EUR 9.70–9.85bn, implying 7%–9% YoY growth.

• FY 2026 underwriting result outlook raised to EUR 1,600–1,650m from EUR 1,550–1,625m, implying 8%–11% YoY growth.

• Guidance reflects favourable severe-weather and large-claims experience and robust top-line growth; outcomes remain exposed to weather, prior-year development, FX and competition.

• Nordic cost-ratio improvement remains on track for 40 bps and is expected to continue in 2027, supported by Topdanmark synergies.