If Group - Interim report

Press release - If Group Interim report January 1 - March 31, 2004 * Continued positive earnings trend. The operating result improved to profit of MSEK 827 (284). * Earnings from the insurance business (technical result) rose to MSEK 644 (159) and the combined ratio improved to 100.8 percent (105.0). Lower-than-normal claims costs during the period contributed to the favorable earnings. * The investment result benefited from falling interest rates and the upturn in Nordic equity markets. Calculated at current value, the investment return improved to 1.8 percent (1.0). * The return on equity was 18.6 percent (5.9). * In February, Sampo acquired Storebrand's, Skandia's and Skandia Liv's holdings of If shares. As of May 6, Sampo's holding amounts to 90 percent and Varma's holding to 10 percent. Torbjörn Magnusson, President and CEO +46 8 788 11 07 Ricard Wennerklint, CFO + 46 8 788 11 63, +46 70 688 11 63 Caroline Rosén, Head of Investor Relations + 46 8 788 38 53, +46 70 589 00 37 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/05/06/20040506BIT00150/wkr0002.pdf The full report http://www.waymaker.net/bitonline/2004/05/06/20040506BIT00150/wkr0003.xls Appendix