Sampo pretax profit beats expectations
HELSINKI Feb 12 (Reuters) - Finnish insurance and investment group Sampo reported a stronger-than-expected quarterly pretax profit due to improved margins in its property and casualty insurance unit, and proposed a dividend above most analysts' forecasts.
Pretax profit for the fourth quarter rose to 440 million euros ($602 million) from 439 million euros a year earlier, the company said on Wednesday. Analysts on average expected 405 million, according to a Reuters poll.
The property and casualty insurance unit's combined ratio, which measures profitability, improved to 87.9 percent from 89.1 a year earlier.
The firm proposed a dividend of 1.65 euros per share, compared with analysts' expectations for around 1.56 euros.
- Malaysia military tracked missing plane to west coast: source |
- Malaysia air probe finds scant evidence of attack: sources |
- Ukraine forms new defense force, seeks Western help |
- UPDATE 1-Missing Malaysian plane last seen at Strait of Malacca-source
- Freescale loss in Malaysia tragedy leads to travel policy questions