Sampo Oyj · OMXHEX:SAMPO
Sampo Oyj — Investor Day (August 2014)
11 slides from Sampo Oyj's investor day presentation, Aug 22, 2014
Slide 1: Portfolio Transfer from Suomi Mutual
Portfolio Transfer from Suomi Mutual Jukka Kurki, CFO Mandatum Life 22nd August 2014 Presentation name / Author 20.8.2014 1
Slide 2: Have we changed our strategy? No, we haven’t!
Have we changed our strategy? No, we haven’t! Focus areas: • Unit-linked business No changes to focus areas • Risk policies • Danske co-operation, Wealth Management and Continue the same strategy with current corporate clients with-profit portfolio. • Everything that is expected to create a good eno
Slide 3: Group Pension Portfolio transfer
Group Pension Portfolio transfer • Mandatum Life and Suomi Mutual Life Assurance Company (Suomi Mutual) have agreed on the transfer of Suomi Mutual’s with-profit group pension portfolio to Mandatum Life. FSA approval was received in June. The portfolio transfer is scheduled to take place on 30 Decem
Slide 4: Elements of Technical Provisions
Elements of Technical Provisions • Technical provisions as at 30.12.2014 will be set equal to transferred assets. • Per 31.12.2013 transferred assets would have been EUR 1.276 million. • Technical provisions as at 31.12.2013 would have been as below: Liability 1.276 mEUR ”Basic Reserve”: 22EUR 22 mi
Slide 5: Segregated Fund
Segregated Fund Assets covering other with-profit liabilities ~5.500 mEUR Transferred portfolio segregated from the rest of the balance sheet • Own profit sharing rules • Separate investment policy • New p/l segment Other with-profit liabilities Segregated Fund ~3.900 mEUR Portfolio Transfer Segre
Slide 6: Profit Sharing – Segregated Group Pension Fund
Profit Sharing – Segregated Group Pension Fund Insurance risks and expense result: • Mandatum Life carries insurance (longevity, disability, mortality) and expense risks profits and losses to Mandatum Life. Profits and losses include the effect of longevity and expense reserves. Investment return
Slide 7: Allocation of investment return
Allocation of investment return • Assuming discount rate is set to 1,5 % AND amount of transferred assets and liabilities as per 31.12.2013 • If investment return 3,0 %, then SH’s proportion is 52,5 bp. • If investment return -2,0 %, then SH’s proportion is 0,0 bp assuming that Future Bonus Reserves
Slide 8: Simplified and illustrative examples of buffering elements of liabilities
Simplified and illustrative examples of buffering elements of liabilities • Assuming an illustrative asset allocation: 80 % fixed income (duration 6 years) and 20 % equities. • All shocks would be realized in IFRS result through P/L (not be recognized in fair value reserve) Stress 1: interest rates
Slide 9: Simplified and illustrative examples of buffering elements of liabilities
Simplified and illustrative examples of buffering elements of liabilities • Assuming an illustrative asset allocation: 80 % fixed income (duration 6 years) and 20 % equities. • All shocks would be realized in IFRS result through P/L (not be recognized in fair value reserve) Stress 2: interest rates
Slide 10: Simplified and illustrative examples of buffering elements of liabilities
Simplified and illustrative examples of buffering elements of liabilities • Assuming an illustrative asset allocation: 80 % fixed income (duration 6 years) and 20 % equities. • All shocks would be realized in IFRS result through P/L (not be recognized in fair value reserve) Stress 3: equities down b
Slide 11: Questions ?
Questions ? Presentation name / Author 20.8.2014 11