HELSINKI, May 8 (Reuters) - Financial group Sampo posted a 7 percent rise in first-quarter profit on Wednesday, boosted by its Danish insurer and a rebound in equity markets, although its main pan-Nordic insurance business missed forecasts.
Sampo’s first quarter pre-tax profit of 475 million euros ($533 million) comfortably topped analyst expectations in a Reuters poll ranging from 362 million to 469 million euros.
Sampo’s share of pre-tax profit from Topdanmark, the Danish insurer in which it owns a 46.7 percent stake, grew 53 percent from a year ago to 92 million euros, beating all analyst forecasts in the poll.
However, Sampo’s main insurance business, If, missed forecasts with a 3 percent rise in pre-tax profit to 198 million euros.
Sampo’s 21.2 percent stake in Nordea netted it 83 million euros, roughly half the amount of a year ago, after the Nordic region’s biggest lender booked a 95 million euro provision for a possible fine for alleged money-laundering.
Shares in Sampo opened 1 percent lower.
$1 = 0.8920 euros Reporting by Tarmo Virki; editing by Jason Neely and Kirsten Donovan