Sampo - Company Announcement

If P&C Insurance Company begins a cooperation procedure

SAMPO PLC        STOCK EXCHANGE RELEASE        13 November 2014 at 9.00 am



If P&C Insurance Company begins a cooperation procedure

If P&C Insurance Company Ltd (Finland), a company belonging to Sampo Group, will
begin a cooperation procedure on 18 November 2014 involving approximately 340
staff members, of which 200 persons in Sales and Services Unit at Business Area
Private (call centers, car dealer channel, branch network) and 140 persons in
IT.

The procedure will affect the personnel at the Customer centers in Oulu, Kuopio
and Tampere, the CAR dealer service team in Tampere, branch office network and
IT functions. All Sales and Services employees affected by the process are
automatically entitled to employment in Turku.

The cooperation procedure in Sales and Services in Business Area Private is
adopted because of continuously toughening competitive situation. In order to
improve customer experience, tighter cooperation between the different functions
contributing to customer service is required. To achieve this customer center
activities are planned to be centralized in Espoo and Turku. In branches a
decrease in customer activity and the geographical overlap in the service
network are the reasons for the procedure.

The procedure regarding the IT functions is a result of a Nordic level
reorganization and a migration to Nordic wide systems. This is estimated to
decrease the staff by maximum of 20 people. For the rest of the procedure the
purpose is not to decrease the number of jobs but rather to reorganize customer
service functions in a new way. Therefore it is not possible to estimate the
effect on number of people.

On 30 September 2014 the number of employees in If P&C Insurance Company
(Finland) was 1,742 and in the Nordic If P&C Insurance Group 6,170 people.



SAMPO PLC



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



For further information, please contact:

Timo Vuorinen
Managing Director of If P&C Insurance Company Ltd.
tel. +358 10 514 3887



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




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