News article, 12 February 2014
If P&C Insurance AS annual results in the Baltic countries in 2013 shows stable financial result. The consolidated net profit for If P&C Insurance AS, which includes parent company in Estonia and subsidiaries in Latvia and Lithuania, was 13.2 MEUR in 2013 compared to 20.7 MEUR in 2012.
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The gross premiums written on the Baltic market during 2013 were 117.1 MEUR compared to 115.2 MEUR in the same period last year, increasing by 2%.
Gross written premiums in Latvia were 18.6 MLVL compared to 18.0 MLVL in 2012, increasing 3.2%.
During 2013 the amount of claims paid in the Baltic were 64.3 MEUR compared to 61.4 MEUR in 2012, increasing by 5%.
In Latvia the amount of claims paid was 10.8 MLVL compared to 8.9 MLVL in 2012, increasing 20.9%.
The number of clients in the Baltic stayed the same as year before - 354 thousand.
Stable results for If P&C Insurance
The technical result for If P&C Insurance was 5 200 MSEK for 2013 compared to 4 997 MSEK for the corresponding period last year. Combined ratio was 88.1 per cent (88.9 per cent). The operating result before tax was 8 041 MSEK (7 511 MSEK).
If P&C Holding is part of Sampo Plc. Sampo Group’s profit before taxes was 440 MEUR (439 MEUR) for October-December 2013. Earnings per share was 0.71 euro (0.71 euro) in the fourth quarter.