Sampo Group’s Online Annual Report 2012 and Sampo’s video ‘25 Years as a Listed Company’ have been granted the international Red Dot Communication Design 2013 Awards.

Red Dot design award winner 2013
Segment information
Download as Excel          
           
The Group’s business segments comprise P&C insurance, Life insurance and Holding company.
           
Geographical information has been disclosed about income from external customers and non-current assets. The reported areas are Finland, Sweden, Norway, Denmark, the Baltic countries and other countries.
           
Segment information has been produced in accordance with the accounting policies adopted for preparing and presenting the consolidated financial statements.The segment revenue, expense, assets and liabilities, either directly attributable or reasonably allocable, have been allocated to the segments. Inter-segment pricing is based on market prices. The transactions, assets and liabilities between the segments are eliminated in the consolidated financial statements on a line-by-line basis.
           
Depreciation and amortisation by segment are disclosed in notes 11 - 13 and investments in associates in note 14.
           
           
Consolidated income statement by business segment for year ended 31 December 2012
           
EURm P&C insurance Life insurance Holding Elimination Group
           
Insurance premius written 4,441 977 - -5 5,413
Net income from investments 359 574 51 -18 967
Other operating income 33 3 15 -16 35
           
Claims incurred -2,876 -669 - 4 -3,540
Change in liabilities for insurance and investment contracts -78 -642 - 1 -719
Staff costs -527 -42 -18 0 -588
Other operating expenses -521 -58 -13 16 -576
           
Finance costs -19 -7 -65 16 -75
Share of associates' profit/loss 46 0 653 0 700
           
Profit before taxes 858 136 623 -1 1,616
           
Taxes -185 -28 1 0 -212
           
Profit for the year 673 108 624 -1 1,404
           
Other comprehensive income for the year          
Exchange differences 48 0 - - 48
Available-for-sale financial assets 281 236 -2 -6 509
Cash flow hedges - -1 - - -1
Share of associate's other comprehensive income - - 9 - 9
Income tax relating to components of other comprehensive income -56 -58 0 0 -114
Other comprehensive income for the year, net of tax 272 177 8 -6 451
           
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 945 286 631 -7 1,855
           
Profit attributable to          
Owners of the parent         1,404
Non-controlling interests         -
           
Total comprehensive income attributable to          
Owners of the parent         1,855
Non-controlling interests         -
           
           
Consolidated income statement by business segment for year ended 31 December 2011
           
EURm P&C insurance Life insurance Holding Elimination Group
           
Insurance premius written 4,201 849 - - 5,050
Net income from investments 298 -41 18 -16 260
Other operating income 31 2 15 -15 32
           
Claims incurred -2,801 -922 - - -3,723
Change in liabilities for insurance and investment contracts -107 348 - - 241
Staff costs -494 -38 -11 - -543
Other operating expenses -497 -53 -13 15 -548
           
Finance costs -2 -8 -86 14 -82
Share of associates' profit/loss 7 0 534 - 541
           
Profit before taxes 636 137 457 -3 1,228
           
Taxes -159 -30 -1 0 -189
           
Profit for the year 478 107 456 -3 1,038
           
Other comprehensive income for the year          
Exchange differences 6 0 - - 6
Available-for-sale financial assets -239 -304 3 20 -520
Cash flow hedges - -2 - - -2
Share of associate's other comprehensive income - - 23 - 23
Income tax relating to components of other comprehensive income 63 84 -1 -5 141
Other comprehensive income for the year, net of tax -170 -222 25 15 -352
           
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 308 -115 481 12 686
           
Profit attributable to          
Owners of the parent         1,038
Non-controlling interests         0
           
Total comprehensive income attributable to          
Owners of the parent         686
Non-controlling interests         0
           
Consolidated balance sheet by business segment at 31 December 2012
           
EURm P&C insurance Life insurance Holding Elimination Group
           
Assets          
Property, plant and equipment 16 5 4 - 26
Investment property 27 95 4 -4 122
Intangible assets 606 164 0 - 771
Investments in associates 362 0 6,687 - 7,049
Financial assets 11,200 5,269 3,028 -2,641 16,857
Investments related to unit-linked insurance contracts - 3,834 - -1 3,833
Tax assets 31 0 18 -5 44
Reinsurers' share of insurance liabilities 577 3 - - 580
Other assets 1,592 109 41 -13 1,729
Cash and cash equivalents 407 154 473 - 1,034
Total assets 14,818 9,635 10,256 -2,663 32,045
           
Liabilities          
Liabilities for insurance and investment contracts 9,854 4,071 - - 13,925
Liabilities for unit-linked insurance and investment contracts - 3,833 - -1 3,832
Financial liabilities 362 105 2,181 -270 2,378
Tax liabilities 389 153 - 0 542
Provisions 56 - - - 56
Employee benefits 76 - - - 76
Other liabilities 807 177 152 -13 1,123
Total liabilities 11,544 8,340 2,333 -284 21,932
           
Equity          
Share capital         98
Reserves         1,531
Retained earnings         7,587
Other components of equity         898
Equity attributable to parent company's equityholders         10,113
Non-controlling interests         -
Total equity         10,113
           
Total equity and liabilities         32,045
           
           
Consolidated balance sheet by business segment at 31 December 2011
           
EURm P&C insurance Life insurance Holding Elimination Group
           
Assets          
Property, plant and equipment 16 6 4 - 26
Investment property 26 92 4 -4 118
Intangible assets 580 165 0 - 745
Investments in associates 340 0 6,253 - 6,593
Financial assets 10,754 5,168 3,465 -2,642 16,745
Investments related to unit-linked insurance - 3,053 - - 3,053
Tax assets 52 - 17 -5 64
Reinsurers' share of insurance liabilities 528 3 - - 532
Other assets 1,479 133 59 -12 1,659
Cash and cash equivalents 390 93 89 - 572
Total assets 14,165 8,713 9,891 -2,662 30,107
           
Liabilities          
Liabilities for insurance and investment contracts 9,547 4,249 - - 13,796
Liabilities for unit-linked insurance and investment contracts - 3,054 - - 3,054
Financial liabilities 528 164 2,346 -269 2,768
Tax liabilities 388 85 - - 474
Provisions 37 - - - 37
Employee benefits 98 - - - 98
Other liabilities 695 151 126 -12 960
Total liabilities 11,294 7,703 2,472 -281 21,187
           
Equity          
Share capital         98
Reserves         1,531
Retained earnings         6,844
Other components of equity         447
Equity attributable to parent company's equityholders         8,920
Non-controlling interests         0
Total equity         8,920
           
Total equity and liabilities         30,107
Geographical information
               
EURm Finland Sweden Norway Denmark Baltic Other Total
               
At 31 Dec. 2012              
Revenue from external customers              
P&C insurance 903 1,321 1,637 389 112 1 4,363
Life insurance 944 - - - 33 - 977
Holding 66 - - - - - 66
Total 1,913 1,321 1,637 389 145 1 5,406
               
Non-current assets              
P&C insurance 110 529 23 338 11 - 1,011
Life insurance 264 - - - 1 - 265
Holding 8 6,687 - - - - 6,696
Total 382 7,217 23 338 12 0 7,972
               
At 31 Dec. 2011              
Revenue from external customers              
P&C insurance 862 1,245 1,497 371 111 8 4,094
Life insurance 808 - - - 41 - 849
Holding 33 - - - - - 33
Total 1,703 1,245 1,497 371 152 8 4,976
               
Non-current assets              
P&C insurance 105 828 13 5 10 2 962
Life insurance 261 - - - 1 - 262
Holding 9 6,253 - - - - 6,262
Total 375 7,081 13 5 11 2 7,486
               
               
The revenue includes insurance premiums according to the underwriting country, consisting of premiums earned for P&C insurance and premiums written for Life insurance, and net investment income and other operating income in the Holding segment.
               
Non-current assets comprise of intangible assets, investments in associates, property, plant and equipment, and investment property.