Nordic non-life insurance - Q1 reporting wrap

Research evidence excerpt

Nordic non-life insurance - Q1 reporting wrap

Sampo – outcome vs. expectations

Q1 26: Outcome vs. ABGSC forecast and Consensus

Outcome ABGSC est. Vara Consensus q-o-q y-o-y

EURm Q1 26 Q1 26e Deviation Q1 26e Deviation Q4'25 growth Q1'25 growth

Insurance revenue (incl brokerage) 2,363 2,282 81 4% 2,334 29 1% 2,322 1.8% 2,188 8%

of which: Private Nordic 1,048 1,035 13 1% 1,035 13 1% 1,027 2.0% 958 9%

of which: Private UK 522 473 49 10% 497 25 5% 513 1.8% 470 11%

of which: Commercial Nordic 570 553 17 3% 564 6 1% 561 1.6% 537 6%

of which: Industry Nordic 154 137 17 13% 147 7 5% 145 6.2% 150 2%

of which: Other / Baltics 69 85 -16 -18% 91 -22 -24% 75 -8.0% 72 -4%

Net claims incurred -1,407 -1,389 -18 1% -1,403 -4 0% -1,377 2.2% -1,289 9%

Expenses incl claims handling -587 -578 -9 2% -591 4 -1% -581 1.0% -563 4%

Insurance service result (UW) 369 315 54 17% 337 32 9% 364 1% 336 10%

of which: Private Nordic 179 160 18 11% 162 17 10% 182 -1.9% 155 15%

of which: Private UK 50 45 5 11% 46 4 9% 41 22.0% 53 -6%

of which: Commercial Nordic 90 71 19 27% 84 6 7% 96 -6.3% 78 15%

of which: Industry Nordic 30 17 13 74% 26 4 17% 29 4.8% 31 -1%

of which: Other / Baltics 19 22 -3 -14% 19 0 0% 14 35.7% 19 1%

Net, financial result -276 -234 -42 18% -200 -76 38% 375 - 101 -373%

Other items incl amortisations -64 -56 -8 -14% -50 -14 -28% -71 -9.9% -60 7%

Group pre-tax profit 28 25 3 14% 87 -59 -68% 668 -95.8% 377 -93%

Tax -74 -6 -68 - -18 -56 311% -130 -43.1% -92 -20%

Net profit -46 19 -65 - 69 -115 - 538 - 285 -

EPS (reported) -0.02 0.01 -0.02 - 0.03 -0.05 - 0.20 - 0.11 -

EPS (adj) 0.14 0.14 0.00 0% 0.11 0.03 27% 0.26 -45.2% 0.11 27%

Distribution in total, of which:

Share buybacks (EURm) 350 200 150 75% 60 - 0 -

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