HELSINKI, Aug 12 (Reuters) - Finnish financial holding company Sampo on Wednesday lifted its forecast for the profitability of its property and casualty (P&C) insurance arm, following strong performance in Sweden.
Sampo said it expects If, the biggest Nordic P&C insurer to make a full-year underlying combined ratio in the range of 87-90 percent, compared to its previous forecast of 88-91 percent. A lower figure indicates better profitability.
The move came in as expected, as analysts in Reuters poll had on average forecast a full-year figure of 86.2 percent.
Sampo’s total pretax profit from the second quarter rose 14 percent from a year ago to 528 million euros ($586 million), topping market consensus of 513 million euros.
$1 = 0.9017 euros Reporting By Jussi Rosendahl; Editing by Simon Johnson