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Cooperation procedure to begin in If P&C Insurance Company


April 28, 2014 - London

SAMPO PLC       STOCK EXCHANGE RELEASE28 April 2014 at 9.30 am

Cooperation procedure to begin in If P&C Insurance Company

If P&C Insurance Company Ltd (Finland), a company belonging to Sampo Group, will begin cooperation procedure on 5 May 2014 involving approximately 230 staff members at claims services, marketing and IT departments of If P&C Insurance Company. Preliminary estimate for the staff decrease is a maximum of 37 people. The cooperation procedure will begin because of a decrease in claims volumes and improvement needs in efficiency, among other things. The aim is to avoid dismissals.

The number of employees in If P&C Insurance Company was approximately 1,800 on 31 December 2013. The Nordic If P&C Insurance Group employed a total of 6,200 people at the year-end.

SAMPO PLC

Jarmo Salonen
Head of Investor Relations and Group Communications
tel. +358 10 516 0030

For further information, please contact:

Marketta Helokunnas
Head of HR Operations, If Finland
tel. +358 10 514 1818

Distribution:
NASDAQ OMX Helsinki
The principal media
Financial Supervisory Authority
www.sampo.com




This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Sampo Oyj via Globenewswire

HUG#1780311

GlobeNewswire

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