Sampo Oyj Change In Sampo Group's Reporting -Topdanmark Becomes A New Segment

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SAMPO PLC STOCK EXCHANGE RELEASE 2 October 2017 at 9:45 am

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Change in Sampo Group's reporting - Topdanmark becomes a new segment

Sampo Group has since May 2011 consolidated Danish insurer Topdanmark

A/S as an associated company by reporting in the P&C Insurance segment

the share of Topdanmark's profit corresponding to Sampo's holding. Sampo

consolidates Topdanmark as a subsidiary as of 30 September 2017 in its

financial reporting in accordance with IFRS. This implies no other

change in the relationship between Sampo Group and Topdanmark.

Previously Sampo reported three segments; P&C Insurance (including

Topdanmark), Life Insurance and Holding segment (including Sampo's share

of Nordea's profit). Subsequent to consolidation of Topdanmark as a

subsidiary, Sampo will change its reporting structure and going forward

disclose four reportable segments; If, Topdanmark, Mandatum Life and

Holding (incl. Nordea).

In the January - September 2017 Interim Statement to be published on 2

November 2017 Topdanmark's balance sheet will be fully consolidated to

Sampo Group's balance sheet. The share of Topdanmark's profit for

January-September 2017 corresponding to Sampo's holding will be reported

as share of associate's profit/loss in the segment Topdanmark as a

separate line. In addition, the difference between the carrying value

and the fair value of Sampo's holding on 30 September 2017 will be

recognized in profit and loss. The exact amount of the latter item

depends on the closing price of Topdanmark share on 30 September 2017

and the share of Topdanmark's profit/loss for the third quarter of 2017.

The amount is over EUR 700 million.

As of 1 October 2017 Topdanmark's profit and loss items will be

recognized line-by-line in Sampo Group's consolidated financial

statements in the segment Topdanmark.

Sampo Group calculates and reports its Group solvency according to the

Act on the Supervision of Financial and Insurance Conglomerates

(2004/699) which is based on Directive 2002/87/EC of the European

Parliament and of the Council on the supplementary supervision of credit

institutions, insurance undertakings and investment. The consolidation

will change the treatment of Topdanmark in the Group Conglomerate

Solvency calculation. Going forward Topdanmark will be treated in the

same way as If P&C and Mandatum Life, which also means that the Solvency

Capital Requirement (SCR) for Topdanmark is calculated according to

standard model. The change is not expected to have a major impact on

Sampo Group's solvency ratio.


Investor Relations and Group Communications

Further information:

Peter Johansson

Group CFO

tel. +358 10 516 0010

Maria Silander

Communications Manager

tel. +358 10 516 0031


Nasdaq Helsinki

London Stock Exchange

The principal media

Financial Supervisory Authority

This announcement is distributed by Nasdaq Corporate Solutions on behalf

of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely

responsible for the content, accuracy and originality of the information

contained therein.

Source: Sampo Oyj via Globenewswire

(END) Dow Jones Newswires

October 02, 2017 03:00 ET (07:00 GMT)