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Finland's Sampo lifts P&C insurance profitability forecast
August 12, 2015 / 6:48 AM / 2 years ago

Finland's Sampo lifts P&C insurance profitability forecast

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

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