SampoOyj reported first-quarter group profit of €362 million, down from€435 million in the year-ago period.
EPS for the period amounted to 65 cents, compared to 78cents a year earlier.
The group's pretax profit fell year over year to €416million from €487 million.
In the property and casualty insurance segment, pretaxprofit increased to €216 million from the year-ago €200 million. The combinedratio fell to 83.0% from 89.2%; excluding a nonrecurring reserve release of €72million from the Swedish motor third-party liability reserves following areview of mortality tables by the Swedish insurance federation, the combinedratio for the first quarter would have been 89.8%. For 2016, Sampo said itexpects the P&C insurance operations to reach a combined ratio of 88% to91% excluding the release from the Swedish MTPL reserves.
Sampo said its share of associated company 's pretax profitfor the quarter amounted to €159 million, down from the year-ago €223 million.
TopdanmarkA/S' pretax profit contribution for the quarter amounted to €5million, compared to €12 million a year earlier.
Sampo's gross written premiums in P&C declined on ayearly basis to €1.62 billion from €1.67 billion
In its life insurance operations, Sampo reported an increasein pretax profit to €53 million from €39 million. Premiums writtentotaled €244 million, down from €377 million a year ago.
Sampo's group solvency ratio was 143.4% at March-end.