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Holding in 2010

Sampo plc controls its subsidiaries engaged in P&C and life insurance. In addition Sampo plc held on 31 December 2010 approximately 20.5 per cent of the share capital of Nordea, the largest bank in the Nordic countries. Nordea is an associated company to Sampo plc.

 

Results, Holding, 2010

EURm 2010 2009 Change %

Net investment income

60

109

-45
Other operating income 16 13
29
Staff costs

-13

-11

18
Other operating expenses

-11

-17

-34
Finance costs

-100

-58

73

Share of associate's profit

523

-

-

Profit (loss) before taxes

474 36
1,217
      Change

Average number of staff (FTE)

52 54
-2


The segment's profit before taxes amounted to EUR 474 million (36), of which EUR 523 million relates to Sampo's share of Nordea's 2010 profit. Segment's profit without Nordea was EUR -48 million.

Sampo plc's holding in Nordea Bank was booked in the consolidated balance sheet at EUR 5.7 billion. The market value of the holding was EUR 6.8 billion at 31 December 2010. In addition the assets on Sampo plc's balance sheet included holdings in subsidiaries for EUR 2.4 billion (2.4).

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