Group Solvency

With Nordea Bank AB (publ) as its associated company as of 31 December 2009 Sampo Group became a financial and insurance conglomerate according to the Act on the Supervision of Financial and Insurance Conglomerates (2004/699).

Group solvency has in 2010 been calculated according to Chapter 3 of the Act on the Supervision of Financial and Insurance Conglomerates (2004/699). The Act is based on Directive 2002/87/EC of the European Parliament and of the Council on the supplementary supervision of credit institutions, insurance undertakings and investment.

Solvency, Sampo Group, 31 December 2010


31 December 2010

31 December 2009

Group capital



Sectoral items



Intangibles and other deductibles



Dividends for the current period



Group's own funds, total



Minimum requirements for own funds, total



Group solvency



Group solvency ratio

(Own funds % of minimum requirements)



The Group's solvency ratio (own funds in relation to minimum requirements for own funds) was 167.1 per cent (158.3) as at 31 December 2010. The part of Nordea's capital requirement corresponding to Sampo's holding in Nordea is taken into account in the Group's capital requirement.

In Sampo Group solvency is assessed internally by comparing the capital required to the capital available. Capital requirement assessment is based on an economic capital framework, in which Group companies quantify the amount of capital required for measurable risks over a one year time horizon at 99.5 per cent´s confidence level. In addition to economic capital companies are assessing their capital need related to non-measurable risks like risks in business environment.

Capital available or Adjusted Solvency Capital include regulatory capital and in addition other loss absorbing items like the effect of discounting technical reserves and other reserves excluded from regulatory capital.

The economic capital tied up in Group's operations on 31 December 2010 was EUR 4,281 million (3,783) and adjusted solvency capital was EUR 8,521 million (7,077).

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