May 6, 2020 / 7:01 AM / a month ago

BRIEF-Sampo Oyj - Q1 Pretax Profit EUR 162 Million

May 6 (Reuters) - Sampo Oyj:

* REG-SAMPO GROUP’S RESULTS FOR JANUARY – MARCH 2020

* SAMPO OYJ - Q1 PRETAX PROFIT EUR 162 MILLION VERSUS EUR 475 MILLION YEAR AGO

* SAMPO OYJ - OUTLOOK FOR 2020: SAMPO GROUP’S INSURANCE BUSINESSES ARE EXPECTED TO REPORT GOOD INSURANCE TECHNICAL RESULTS FOR 2020

* SAMPO OYJ - OUTLOOK FOR 2020: INVESTMENT RESULTS ARE AT THIS POINT IN TIME MORE UNCERTAIN THAN USUAL

* SAMPO OYJ - OUTLOOK FOR 2020: MARK-TO-MARKET RESULTS FOR 2020 ARE HIGHLY DEPENDENT ON CAPITAL MARKET DEVELOPMENTS, PARTICULARLY IN LIFE INSURANCE

* SAMPO OYJ - OUTLOOK FOR 2020:NORDEA’S CONTRIBUTION TO GROUP’S PROFIT IS EXPECTED TO BE SIGNIFICANT

* SAMPO OYJ - IF SEGMENT’S COMBINED RATIO FOR JANUARY - MARCH 2020 WAS BETTER THAN EVER IN Q1 AND AMOUNTED TO 83.7 PER CENT (86.5)

* SAMPO OYJ - INTERNET REPORTED CLAIMS IN P&C INSURANCE HAVE INCREASED SIGNIFICANTLY AND WE HAVE PAID A LARGE NUMBER OF COVID-19 RELATED CLAIMS

* SAMPO OYJ - SAMPO’S OTHER P&C INSURANCE OPERATION, TOPDANMARK, HAD A CHALLENGING QUARTER WITH MARKET VALUES OF ASSETS FALLING AND LARGE CLAIMS EXCEEDING EXPECTED LEVEL

* SAMPO OYJ - OUTLOOK 2020: IF P&C IS EXPECTED TO REACH A COMBINED RATIO OF 84 - 87 PER CENT IN 2020. Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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