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BRIEF-Sampo finalizes valuation of Mandatum Life portfolio
June 19, 2017 / 2:03 PM / 6 months ago

BRIEF-Sampo finalizes valuation of Mandatum Life portfolio

June 19 (Reuters) - Sampo Oyj

* Says valuation of Mandatum life’s portfolio to be sold to Danske Bank finalized

* Say value of the insurance portfolio as at the December 31, 2016, is 334 million euros ($373.31 million)

* Says Mandatum Life and Danske Bank have agreed that the theoretical result from the beginning of 2017 until the date of the transfer, as determined in the valuation process, will be deducted from the final sales price

* Says theoretical result for 2017 is determined to be 18.1 million euros and for 2018 18.6 million euros

* Says transaction is expected to have a negative impact of 20-25 million euros on Mandatum Life’s annual profit before taxes

* Says transfer of the portfolio is expected to take place during 2018 Source text for Eikon: Further company coverage: ($1 = 0.8947 euros) (Helsinki Newsroom)

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