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

Notes to the Group’s financial statements

29 Financial liabilities
Download as Excel            
The segment financial liabilities include derivatives, debt securities and other financial liabilities.
               
P&C insurance
               
EURm         2012 2011
Derivative financial instruments (note 15)         38 202
               
Subordinated debt securities            
Subordinated loans            
Euro-denominated loans     Maturity      
  Preferred capital note, 2002 (nominal value EURm 65)     20 years   66 68
  Preferred capital note, 2005 (nominal value EURm 150)     perpetual   149 149
  Preferred capital note, 2011 (nominal value EURm 110)     30 years   109 109
Total subordinated debt securities         324 217
               
P&C insurance, total financial liabilities         362 419
               
The loans are issued with fixed interest rates for the first ten years, after which they become subject to variable interest rates. At that point, there is the possibility of redemption. All loans and their terms are approved by supervisory authorities and the loans are utilised for solvency purposes.
   
The loan issued in 2002 was issued to If's previous owners in relation to their holding in If. The loan issued in 2011 is wholly subscribed by Sampo Plc.
               
The loans issued in 2005 and 2011 are listed on the Luxembourg Exchange.
               
Life insurance
               
EURm         2012 2011
Derivative financial instruments (note 15)         5 64
               
Subordinated debt securities            
Subordinated loans         100 100
               
Life insurance, total         105 164
               
Mandatum Life issued in 2002 EURm 100 Capital Notes. The loan is perpetual and pays floating rate interest. The interest is payable only from distributable capital. The loan is repayable only with the consent of the Insurance Supervisory Authority and at the earliest on 2012 or any interest payment date after that. The loans is wholly subscribed by Sampo Plc.
               
Holding
               
EURm         2012 2011
Derivative financial instruments (note 15)         19 17
               
Debt securities in issue            
Commercial papers         451 652
Bonds         1,710 1,677
Total         2,162 2,329
               
Holding, total         2,181 2,346
               
Elimination items between segments         -270 -269
               
EURm         2012 2011
Group, total         2,378 2,659