The biggest Finnish insurance group Sampo reported on Thursday a dip in 2011 net profit to €1.038 billion euros (£870m), eight percent less than a year earlier.
The outcome was “a good result despite capital market uncertainty”, a company statement said, before adding that its board would propose a dividend of €1.20 per share.
Company CEO Kari Stadigh added, “Overall, for the year 2012, we see Sampo well-positioned and there is no reason why it would not continue reaching the long-term target of a combined ratio of under 95 per cent.”
Pre-tax profit in the property and casualty insurance division fell to 636 million euros from 707 million a year earlier as market uncertainty resulted in lower investment returns, the company said.
Earnings from Sampos 21.3 percent stake in Nordea Bank contributed 534 million euros to the bottom line, up slightly from 523 million a year earlier.
Pre-tax profit in the life insurance business came in at 137 million euros in 2011, down marginally from 142 million, “despite the challenging investment markets,” the company said.
Sampo Groups business areas were expected to report good operating results for 2012, the company forecast, but warned that once again, the results would depend on market developments.
Loans can be great tools to help you grow in life. A student loan can help you pursue your educational dreams. Getting a car loan can help you gain more independence in your life. Mortgages are available to help families find a place to call home. However, you have to be sure you understand the terms and conditions of any loan you take out.
Interest Rate
Your loan is going to come with an interest rate to be paid on top of the original balance. This interest rate is determined by credit score. A good credit score is going to get you a lower interest rate on your loan. Read full post…
Girl Scouts, Discover rewards, a new Disney card from Chase, Taco Bell snafu, Minnesota taxicabs…What’s going on in the world of credit cards right now? A little bit of everything…
Am I alone on this?
Every once in awhile, when I walk past a Girl Scout troop selling cookies, usually at our neighborhood grocery store, I’ll say, “Sorry, I don’t have any cash on me,” even if I do. I should just say, “No, thanks,” but never wanting a young seller to take my rejection personally, I always feel like I have to have a plausible excuse for not buying cookies from them. Otherwise, I feel like a heel not buying a box. So
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Enrolling in a debt management program is a big step towards creating a sound financial future for yourself and your family. However, signing up for a program requires many things, the first of which is honesty. The debt management program can’t help you unless you’re honest with the credit counselor and, more importantly, honest with yourself.
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Many Britons are becoming more sensible with their money and working hard to reduce their debt levels, according to one financial expert.
Gail Goldie, product and marketing director at Santander Cards, said a large number of people have changed their attitude towards borrowing and become more focused on making their money “go further”.
“People are increasingly paying down debts and are looking to be a bit more focused on managing their finances,” she commented.
Ms Goldie suggested the current economic climate has made people think differently about credit card debt and other forms of borrowing.
According to the Precious Plastic 2012 report published by PricewaterhouseCoopers earlier this month, the average UK household has approximately £7,900 of debt.
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