Outlook for 2011

Growth in the global economy is expected to pick up momentum and deleveraging to continue as markets prove their resilience and adaptiveness. The European debt crisis, if properly managed, is expected to abate gradually. All in all the economic landscape in 2011 is expected to be fairly benign.

Sampo Group is expected to report a good result for 2011. P&C and life insurance operations are expected to report good and stable results and the contribution to profit of associated company Nordea Bank is anticipated to remain strong. The continuing rise of short term interest rates will also further strengthen Sampo Group's profits.

If P&C is expected to reach its long-term combined ratio target of below 95 per cent in 2011. Profit is expected to remain very good.

Nordea's contribution to the Group's profit is expected to be significant.

Mandatum Life's profitability is expected to remain good although it is highly dependent on capital market developments.

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