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Sampo plcAnnual General Meeting 2018
Kari StadighGroup CEO and President
Solid result within insurance
929 931 960 883 818
153 163 181 210 236
635 680 751 773616
-45 -12 -1
6
-40
142
706
-200
200
600
1,000
1,400
1,800
2,200
2,600
3,000
2013 2014 2015 2016 2017
Sampo Group profit before taxes by segment
If Mandatum Life Nordea Holding excl. Nordea Topdanmark Non-recurring item
1,8881,7591,668
1,871
2,482
EURm
EPS and Comprehensive result EPS Reported EPS by quarter
2.95
3.96
3.14
3.79
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
4.50
2016 2017
EUR
EPS (reported) EPS (comp. result)
Includes 1.26 EUR from valuing of Topdanmarkto fair value
0.65 0.75 0.710.84
0.68 0.67
2.01
0.61
0.00
0.50
1.00
1.50
2.00
2.50
Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17
EUR
Includes 1.26 EUR from valuing of Topdanmarkto fair value
Earnings per share
1.261.26
2.70 2.53
0.74
1.26
14.63
17.79
14.05
17.38
22.15 22.6323.79 24.86 25.37
0.00
4.00
8.00
12.00
16.00
20.00
24.00
28.00
2009 2010 2011 2012 2013 2014 2015 2016 2017
EUR
Net asset value per share continued to increase
By sector By company
Money market 12%
Public sector 5%
Covered Bonds 23%
Other fixed income 39%
Equities 15%
Private equity 1%
Real estate 2%
Other 3%
If 52%
Topdanmark (P&C) 13%
Mandatum Life 28%
Sampo plc 7%
Sampo Group investments exceeded EUR 22 billion on 31 December 2017
Total EUR 22.2 billion
Investments of If, Topdanmark (excluding life insurance), Mandatum Life and Sampo plc
0.0
2.0
4.0
6.0
8.0
10.0
12.0
86.0 88.0 90.0 92.0 94.0 96.0 98.0 100.0 102.0
European insurance groupsAverage CR (%) 2008-2017 against volatility
SampoOP
Topdanmark Tryg
RSA
MapfreAllianz
Generali Zürich Ins.Aviva
SCOR
Ageas
Swiss Re2)
Gjensidige
Combined ratio, %
Hannover Re2)
AXA
AVERAGESta
ndar
d de
viat
ion
Admiral Ergo1)
Source: Company reports, figures at group level, 1) Germany, 2) P&C reinsurance; * 2010 - 2017
Protector
Direct Line*
Nordic P&C insurance market shares
If 18%
Topdanmark 5%
Tryg 9%
LF 10%
RSA Scand. 9%Gjensidige 8%
Folksam 6%
OP 6%
LähiTapiola 4%
Other 25%
Data 2016
Best-ever combined ratio10
0.9
%
94.9
%
91.9
%
89.9
%
90.6
%
91.8
%
92.1
%
92.8
%
92.0
%
88.9
%
88.1
%
87.7
%
85.4
%
84.4
%
85.3
%
70.0%
80.0%
90.0%
100.0%
Combined ratio excludingthe one-offs is 86.5%.
Combined ratioexcluding
the one-offs is 86.1%.
• Topdanmark is the second largest non-life insurance company (market share 17%) and the sixth largest life insurance company (market share 9%) in Denmark
• Topdanmark has approximately 600,000 non-life insurance customers and 130,000 life insurance customers
• Sampo holds 48.9 per cent of votes in Topdanmark at the end of 2017 (subsidiary as of 30 September 2017)
• Profit before taxes in the Topdanmark segment was EUR 142 * (59) million excluding a non-recurring item of EUR 706 million
• Combined ratio was 82.0 (85.1) per cent in 2017• Peter Hermann was appointed to new CEO of Topdanmark as of 5 February 2018• Torbjörn Magnusson (Chairman), Petri Niemisvirta and Ricard Wennerklint represent Sampo Group in
Topdanmark's Board• Market value of Topdanmark EUR 1 512 million and the original acquisition value approximately
EUR 600 million
Topdanmark
*) consolidation since Q4/2017
Topdanmark − Combined ratio development
Consolidation as a subsidiary Q4/2017
91.1
93.3
90.3
88.0
91.5
86.0 86.885.1
82.0
76.078.080.082.084.086.088.090.092.094.096.0
2009 2010 2011 2012 2013 2014 2015 2016 2017
%
Source: Nordea
Nordea’s customer relationships and market position 2017
Nordea’s financial highlightsQ4/17 vs. Q4/16* 2017 vs. 2016*
Income• Total revenues• Net Interest Income• Fee and Commission Income• Net Fair Value
• -13%• -6%• -2%• -54%
• -3%• -1%• +5%• -22%
Costs • Total expenses • -7% • +4.2%
Credit quality• Loan loss level• Impaired loans
• 9 (16) bps • 12 (15) bps
• 186 (163) bps
Capital & Dividend
• CET1 ratio• Management buffer• Dividend
• 19.5 (18.4) %• 189 (101) bps• EUR 0.68
*In local currencies and excluding items affecting comparability and the transformation costs. Source: Nordea
• Nordea issued a EUR 750m Additional Tier 1 instrument at 3.5%, the lowest coupon ever
One simplified legal structure
Simplified legal structure and re-domilication
Re-domilication to the banking union
• First step taken on January 1st 2017 to simplify the legal structure towards operating as One Nordea
• Strengthened governance and simplifying common processes
• Enables Nordea to fully benefit from investments in Core Banking Systems
• The change has created One Nordea and contributes to making Nordea more competitive to the benefit of the customers
• Logical move to be supervised within the banking union given the size, geographic reach and business model
• Important strategic step in positioning Nordea at par with its European competitors
• Benefit from a stable and predictable regulatory environment offered by the banking union
Nordea Bank AB’s Board of Directors decided to initiate a re-domiciliation of the parent company of the Nordea Group from Sweden to Finland and the European Banking Union on 6 September 2017. At the Annual General Meeting that took place on 15 March 2018, the merger plan was approved by Nordea’s shareholders. The actual re-domiciliation is planned to be effective on 1 October 2018 – but remains subject to the necessary regulatory approvals.
Source: Nordea
Nordea has a strong capital position
14,230 15,760 19,577 21,049 22,641 23,953 24,444 25,588 26,516 27,555 28,008
1,297
5191,006
1,1681,048
1,3701,734
2,501 2,584 2,625
2,747
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
26,000
28,000
30,000
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Tier 1 capital; left scale Dividends, total; right scale
EURm EURm
Unit-linked reserves at a new record
EURm
4,487 4,431 4,410 4,249 4,071 3,927 3,837 3,818 3,679 3,507
1,637 2,359 3,124 3,054 3,833 4,617 5,312 5,858 6,440 7,066
1,228 1,196 1,142 1,065
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
With-profit and unit-linked technical reserves of Mandatum Life31 December 2017
Segregated assets Unit-linked With-profit
*
*Includes the portfolio of approximately EUR 3,100 million to be transferred to Danske Bank
*
Risk and expense results highest in Mandatum Life’s history
14
19
25 24
33
24 23
3331
35
0
5
10
15
20
25
30
35
40
2013 2014 2015 2016 2017Expense result Risk result
EURm
Sampo plc
Sampo plc’s direct investments worth EUR 750 million
• Swedish consumer credit online bank• Sampo’s investment amounted to approximately EUR 240 million• Co-investor Nordic Capital (Sampo’s share 36.25%)
• Danish fintech company spezialising in online trading• Sampo’s investment amounted to approximately EUR 265 million• Sampo’s share 19.9% (Geely 51.5%, Kim Fournais 25.7%)
• Danish pioneer in digital payments and leading payment servicesprovider
• Sampo’s investment amounted to approximately EUR 230 million• Co-investor with Hellman & Friedman
181488 540 406 544 490 597 587 586 620
293
200100
100100 100
125
275
150
13080
204 250 224293
370 533
551557
585
107511 568
744 756 768883
1,0671,220
1,5551,452
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018**
If If, extra dividend Mandatum Life Nordea Topdanmark
*
Internal dividends received by Sampo plcEURm
* If made a sales gain in connection with the mandatory offer on Topdanmark shares and paid an extra SEK 2.8 billion (EUR 293 million) dividend to Sampo plc on 22 September 2016.
** If normally pays its dividend towards the end of the calendar year.
Nine consecutive years of growth in Sampo dividends
0.801.00
1.15 1.201.35
1.651.95
2.152.30
2.60
0.00
0.50
1.00
1.50
2.00
2.50
3.00
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017*
EUR
* Board’s proposal to the AGM on 19 April 2018
4.6%5.0%
4.6%
5.4%5.7%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
2013 2014 2015 2016 2017
Annual dividend yield, calculated using the year-end share price
Sampo plc dividend yield, %
Sampo’s 10Y TSR vs. STOXX Europe 600 Banks and Insurance indices
Source: Thomson Reuters Datastream
Market capEUR 25 billion13 April 2018
Sampo plcAnnual General Meeting 2018
Kari StadighGroup CEO and President