Finnish insurer Sampo targets combined ratio of below 85% (updated)
06/03/2024 08:09
(Adds detail on the combined ratio in paragraphs 2 and 3,
dividends in paragraph 5)
March 6 (Reuters) - Finnish insurer Sampo SAMPO.HE on
Wednesday announced financial targets for 2024-2026 ahead of its
capital markets day, aiming for an improved combined ratio of
below 85% annually.
In the 2021-2023 period, Sampo targeted a combined ratio of
below 86%.
A combined ratio, calculated by adding the loss ratio and
expense ratio, is a key earnings metric. A ratio lower than 100
means an insurer earns more in premiums than it pays out in
claims.
It also aims to achieve operating earnings per share growth
of more than 7% on average over the period.
Sampo said it aims that at least 70% of operating profits
should be distributed as dividends in the 2024-2026 period.
(Reporting by Marta Frąckowiak and Elviira Luoma in Gdańsk;
editing by Jason Neely and Louise Heavens)
((marta.frackowiak@thomsonreuters.com; +48 58 769 65 30;))