(1,725). Interest bearing assets include bank accounts, fixed income 
instruments and EUR 351 million (359) of hybrid capital and subordinated 
debt instruments issued by the subsidiaries and associated companies. 
 
   Sampo plc's net debt amounted to EUR 2,797 million (2,183). The net debt 
calculation takes into account interest bearing assets and liabilities. 
Gross debt to Sampo plc's equity was 54 per cent (51) and financial 
leverage was 35 per cent (34). 
 
   On 28 May 2020 Sampo plc repaid SEK 3,000 million senior notes maturing 
on that date. 
 
   On 30 June 2020, financial liabilities in Sampo plc's balance sheet 
consisted of issued senior bonds and notes of EUR 3,109 million (3,414). 
In addition, Sampo plc has issued subordinated notes of EUR 495 million 
(494). Outstanding commercial papers amounted to EUR 50 million (0). The 
average interest, net of interest rate swaps, on Sampo plc's debt as of 
30 June 2020 was 1.3 per cent (1.3). 
 
   More information on Sampo Group's outstanding debt issues is available 
at: 
https://www.globenewswire.com/Tracker?data=T6zf9vlueHPz00XhXCTvd_zu7YDjoI7xWzQv_94RXWxKmlYe06noeArF32iYWXH1-eG7Yb8UMIRLiu-OAtzJkLsukWPkBeSdoV0kRMciGQPorATXnPisEZKoLRzJyja3 
www.sampo.com/debtfinancing. 
 
   OUTLOOK 
 
   Outlook for 2020 
 
   Sampo Group's insurance businesses are expected to report good insurance 
technical results for 2020. However, the investment results are at this 
point in time more uncertain than usual. The mark-to-market results for 
2020 are highly dependent on capital market developments, particularly 
in life insurance. 
 
   If P&C is expected to reach a combined ratio of 82 -- 85 per cent in 
2020. 
 
   With regard to Topdanmark, reference is made to the profit forecast 
model that the company publishes on a quarterly basis. 
 
   Nordea's contribution to the Group's profit is expected to be 
significant. 
 
   The major risks and uncertainties for the Group in the near-term 
 
   In its current day-to-day business activities Sampo Group is exposed to 
various risks and uncertainties, mainly through its separately managed 
major business units. 
 
   Major risks affecting the Group companies' profitability and its 
variation are market, credit, insurance and operational risks that are 
quantified independently by the major business units. At the group level, 
sources of risks are the same, although they are not directly additive 
due to the effects of diversification. 
 
   Uncertainties in the form of major unforeseen events may have an 
immediate impact on the Group's profitability. The identification of 
unforeseen events is easier than the estimation of their probabilities, 
timing, and potential outcomes. Currently, the COVID-19 pandemic is 
causing significant negative effects on the Nordic economies. The 
duration of the measures taken to contain the virus and their effects on 
economic and capital market development are uncertain. There are also a 
number of widely identified macroeconomic, political and other sources 
of uncertainty which can, in various ways, affect the financial services 
industry in a negative manner. 
 
   Other sources of uncertainty are unforeseen structural changes in the 
business environment and already identified trends and potential 
wide-impact events. These external drivers may have a long-term impact 
on how Sampo Group's business will be conducted. Examples of already 
identified trends are technological developments in areas such as 
artificial intelligence and digitalization, demographic changes, and 
sustainability issues that may also have profound effects on companies 
from the financial sector. 
 
   SAMPO PLC 
 
   Board of Directors 
 
   For more information, please contact: 
 
   Knut Arne Alsaker, Group CFO, tel. +358 10 516 0010 
 
   Jarmo Salonen, Head of Investor Relations and Group Communications, tel. 
+358 10 516 0030 
 
   Maria Silander, Communications Manager, Media Relations, tel. +358 10 
516 0031 
 
   Conference call 
 
   An English language conference call for investors, analysts and the 
media will be arranged today at 1 pm Finnish time (11 am UK time). To 
participate, please call one of the following telephone numbers: +1 631 
913 1422, +44 333 300 0804, +46 856 642 651, or +358 981 710 310. The 
conference code is 25893753#. 
 
   The conference call can also be followed live at: 
https://www.globenewswire.com/Tracker?data=T6zf9vlueHPz00XhXCTvd58orvnF5UK8dj1We_Y8k4IyOa1b1OEvcjGLcXZKofy8mosezM57g7anDMWR7oirOuaxhaQwico7AcAjHMqvTsQ= 
www.sampo.com/result. A recorded version will be available later at the 
same address. 
 
   In addition, the Supplementary Financial Information Package is 
available at: 
https://www.globenewswire.com/Tracker?data=T6zf9vlueHPz00XhXCTvd58orvnF5UK8dj1We_Y8k4JAT34RTkp9N-R69BsY7SNqZZsqVJUyVPESjCYw0K9EWD71dKr4e0fMczfCtPf0AQM= 
www.sampo.com/result. 
 
   Sampo will publish the Interim Statement for the period 
January--September 2020 on 4 November 2020. 
 
   Distribution: 
 
   Nasdaq Helsinki 
 
   London Stock Exchange 
 
   The principal media 
 
   Financial Supervisory Authority 
 
   https://www.globenewswire.com/Tracker?data=T6zf9vlueHPz00XhXCTvd8fD81Fg3gru9gi8YKs5tKcadpqGd6V9FN86g6FFAhiLRRXVUNFFuWCTUs-DCjaVqA== 
www.sampo.com 
 
   Attachment 
 
 
   -- Half-Year Financial Report January - June 2020 
      https://ml-eu.globenewswire.com/Resource/Download/b0fa0a99-6d8b-4dd6-b047-dad97e17e80c