Q1 2023 Sampo plc Pre-Recorded Earnings Presentation Transcript

May 10, 2023 / NTS GMT

Transcript

Knut;Arne Alsaker

Sampo Oyj - CFO & Member of Group Executive Committee

Hello. My name is Knut-Arne Alsaker, and I am Group CFO of Sampo.

Let me give you an overview of our first quarter results. Sampo has enjoyed a very good start to the year. Underwriting profit is up by 21% to EUR 292 million and profit before taxes is up by 30% to EUR 359 million, applying the new accounting principles, the insurance industry has implemented.

Let's look at underwriting performance in more detail. Quarterly premiums increased to EUR 3 billion. Growth was particularly strong in the U.K. at almost 40% as we continued to increase prices to cover high claims inflation and to grow the home book.

Nordic premium growth was also solid at 6%, driven by pricing, high retention and our growth initiative in personal insurance and SME

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