(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
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Mar. 27 | Fiona Clutterbuck Will Not Be Available for Re-Election of Sampo Oyj's Board | CI |
Mar. 06 | Transcript : Sampo Oyj - Analyst/Investor Day |
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