Capitalization by Regulatory Criteria
Sampo Group reports its Group solvency quarterly to the Finnish supervisory authorities monitoring Sampo Group. Subsidiaries’ solvency is reported to the local supervisory authorities.
The regulatory capital requirements and the regulatory solvency capital of If P&C and Mandatum Life are presented in figures 'Regulatory capital measures, If P&C and Mandatum Life, 31 December 2011 and 31 December 2010'. In If P&C regulatory solvency capital was 3.25 times regulatory capital requirement and the respective figure for Mandatum Life was 4.61 at the end of year 2011. Regulatory solvency capital, which is used to assess the solvency of an insurance company, is not calculated for the parent company Sampo plc.
Regulatory solvency capital of If P&C decreased to EUR 2,698 million (EUR 2,956 million in 2010) while the regulatory capital requirement was EUR 841 million (EUR 735 million in 2010). Regulatory solvency capital of Mandatum Life Group decreased to EUR 1,041 million (EUR 1,324 million in 2010) while the regulatory capital requirement was EUR 226 million (EUR 231 million in 2010). Also Sampo Group’s consolidated capital position was strong. The Group solvency ratio was 139 per cent (167 per cent in 2010).
Group solvency,
31 December 2011 and 31 December 2010
| EURm |
31 Dec 2011 |
31 Dec 2010 |
|
Group capital |
8,920 |
8,886 |
| Sectoral items |
1,091 |
1,711 |
|
Valuation differences and deferred taxes |
380 |
508 |
|
Topdanmark |
-141 |
|
|
Subordinated loans |
200 |
289 |
|
Share of Nordea's capital not included in Group capital |
653 |
915 |
|
Intangibles and other deductables |
-3,217 |
-3,033 |
|
Intangibles (insurance companies) |
-745 |
-742 |
|
Intangibles (Nordea) |
-1,314 |
-1,218 |
|
Equalisation provision (Finland) |
-317 |
-361 |
|
Contingency reserve (Finland) |
0 | 0 |
|
Other |
-169 | -67 |
|
Planned dividends for the current period |
-672 |
-645 |
|
Solvency capital, total |
6,794 |
7,564 |
|
Minimum requirements for solvency capital, total |
4,902 |
4,526 |
| Group solvency |
1,892 |
3,038 |
| Group solvency ratio
(solvency capital % of minimum requirement) |
139% |
167% |
