Sampo Group is a significant Nordic insurance group made up of the parent company Sampo plc, If P&C Insurance Holding Ltd, Danish insurer Topdanmark and British P&C insurer Hastings, all of which are its subsidiaries. The parent company in Helsinki administers the subsidiaries. Sampo Group employs over 13,500 employees. Torbjörn Magnusson is the CEO of Sampo Group. Antti Mäkinen was elected as Chair of the Board of Sampo on 17 May 2023.[2]
Sampo Group had a banking operations under the name of Sampo Bank between 2000 and 2006. In November 2006, it was disclosed that the banking business of Sampo was sold to the DanishDanske Bank so that Sampo could concentrate on its insurance business.[3] The proceeds of the sale were invested in the shares of Nordea, the largest bank in the Nordic region. Sampo sold its entire holding in Nordea in April 2022.
If is the leading property and casualty insurer in the Nordic region, with more than 3.7 million customers in the Nordic and Baltic countries.[4] If offers insurance and services in Finland, Sweden, Norway, Denmark, Estonia, Latvia and Lithuania.
Sustainability
In 2017, Sampo plc published the first group-level sustainability report. In 2019, the Group joined the UN Global Compact initiative and signed the UN PRI. In addition to the group-level sustainability reporting, each individual Sampo Group company publishes their own sustainability reports annually.[5]
History
The story of Sampo began in 1909, when the Mutual Insurance Company Sampo was established in Turku, Finland.
The 1980s were a turning point in Sampo's history. In 1987, Sampo changed its company type from a mutual insurance company to a limited company. The company's insurance customers became shareholders, and Sampo was listed on the Helsinki Stock Exchange in January 1988.
The merger of Sampo and state-owned Leonia Bank was the number one business news story at the turn of the millennium. Sampo's Annual General Meeting approved the merger in April 2000. The Finnish state became the largest owner of Sampo-Leonia.
Leonia Bank became Sampo Bank in February 2001, and Investment Bank Mandatum joined Sampo Group later that spring. In 2002, Sampo became a shareholder in the Nordic insurance company P&C.
In 2006, Sampo announced a divestment that went down in Finnish economic history. The company sold its banking business to the Danish Danske Bank for more than €4,000,000,000 (US$4,500,000,000).
Nowadays, Sampo Group consists of the parent company Sampo plc and the subsidiaries: If, Topdanmark, and Hastings. Through its subsidiaries, Sampo operates in: Finland, Sweden, Norway, Denmark, Baltic countries, and Great Britain.
Shareholders
Sampo plc's A share has been listed on NASDAQ OMX Helsinki (former Helsinki Stock Exchange) since January 1988. In terms of market capitalization Sampo plc is one of the largest companies listed on NASDAQ OMX Helsinki.
Foreign and nominee registered owners had 61.41% of Sampo plc's shares (31 Jan 2023). At the end of 2022, Sampo plc had over 198,000 shareholders. [7]
Mandatum
Mandatum is one of Finland's financial services providers. They provide a variety of services, including wealth management, investments, personal risk insurance as well as incentive and reward solutions. [8]
The partial demerger of Sampo plc became effective on 1 October 2023 and Mandatum was separated from Sampo Group.
Nordea Bank Abp, commonly referred to as Nordea, is a Nordic financial services group operating in Northern Europe. In October 2009, Sampo plc received permission from Swedish authorities to acquire more than 20% of Nordea.[9] Sampo sold its entire holding in Nordea in April 2022.
Name
In Finnish mythology, the name "Sampo" refers to a mythical machine that creates salt, food, flour and gold out of nothing.
EUR 1,863 million (2022)
13,550 (FTE, 2022)
