View source for Sampo Group

{{Short description|European insurance company}}
{{about|the financial group|the bank that previously shared the same name (a part of Sampo Group until 2006)|Danske Bank}}{{Primary sources|date=June 2024}}
{{Use dmy dates|date=September 2024}}
{{Infobox company
| name = Sampo plc
| native_name = Sampo Oyj
| logo = Sampo Group.svg
| logo_size = 250px
| logo_alt = Sampo Group logo
| type = [[Public company]]
| traded_as = {{OMX|HEX24346|SAMPO}}
| ISIN = FI4000552500
| industry = [[Insurance]]
| foundation = 1909
| location = Fabianinkatu 21<br>[[Helsinki]], [[Finland]]
| key_people = {{Unbulleted list|[[Morten Thorsrud]] ([[CEO]])|[[Antti Mäkinen]]|[[Annica Witschard]]|[[Astrid Stange]]|[[Christian Clausen]]|[[Markus Rauramo]]|[[Risto Murto]]
|[[Sara Mella]]|[[Steve Langan]]|}}
| products = [[Insurance]]
| operating_income = EUR 1,559 million <small>(2024)</small>
| num_employees = 14,280 <small>([[full-time equivalent|FTE]], 2024)</small>
| footnotes = <ref>{{Cite web|url=http://www.nasdaqomxnordic.com/shares/microsite?Instrument=HEX24346&symbol=SAMPO&name=Sampo+Oyj+A|title=SAMPO, Sampo Oyj A, (FI0009003305) - Nasdaq|website=www.nasdaqomxnordic.com}}</ref>
| homepage = {{URL|https://www.sampo.com/}}
}}

'''Sampo Group''' is a property and casualty (P&C) insurance group with operations in the Nordics, Baltics, and the UK. Sampo operates in four segments: Private in the Nordics and the UK, and Commercial and Industrial in the Nordics.<ref>{{Cite web |title=Group {{!}} Sampo.com |url=https://www.sampo.com/group/ |access-date=2025-10-02 |website=www.sampo.com |language=en}}</ref>

Sampo is made up of the parent company Sampo plc, [[If P&C Insurance]], Danish insurer Topdanmark and British P&C insurer [[Hastings Insurance]]. The parent company is responsible for the group's strategy, capital allocation, risk management, group accounts, investor relations, sustainability, and legal and tax matters.

Sampo Group employs nearly 15,000 employees.<ref>{{Cite web |title=Personnel and careers {{!}} Sampo.com |url=https://www.sampo.com/group/personnel-and-careers/ |access-date=2025-04-24 |website=www.sampo.com |language=en}}</ref> The Managing Director of Sampo plc and the CEO of Sampo Group is Morten Thorsrud.<ref>{{Cite web |title=Management {{!}} Sampo.com |url=https://www.sampo.com/governance/management/ |access-date=2025-10-02 |website=www.sampo.com |language=en}}</ref>

== History ==
Source:<ref>{{Cite web |title=History of Sampo plc |url=https://www.sampo.com/group/history/ |access-date=18 September 2024}}</ref>

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 [[Nasdaq Helsinki|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. [[Björn Wahlroos]] became Group CEO and President and brought with him a new type of thinking derived from his banking expertise. The focus of operations shifted towards bank services and long-term savings.<ref name=":0">{{Cite web |title=History - 2000s {{!}} Sampo.com |url=https://www.sampo.com/group/history/2000/ |access-date=2024-09-18 |website=www.sampo.com |language=en}}</ref>

In 2002, Sampo became a shareholder of the Nordic property and casualty insurance company If. Two years later, Sampo bought out the Norwegian company Storebrand, the Swedish-owned Skandia, and the Finnish insurance company Varma, making itself the sole owner of If.<ref name=":0" />

In 2006, Sampo Group announced a historic divestment, selling its banking operations, known as Sampo Bank, to the Danish Danske Bank for over €4 billion (US$4.5 billion).<ref>{{Cite web |date=2016-08-03 |title=Sampo plc to sell Sampo Bank Group to Danske Bank A/S - Danske Bank |url=https://www.danskebank.ee/en/19404.html |access-date=2024-09-18 |archive-url=https://web.archive.org/web/20160803225802/https://www.danskebank.ee/en/19404.html |archive-date=3 August 2016 }}</ref> This sale allowed Sampo to focus on its insurance business, with the proceeds invested in shares of Nordea, the largest bank in the Nordic region, until Sampo sold its entire holding in Nordea in April 2022.

On 29 March 2023 the Board proposed a demerger of Sampo plc by separating Mandatum from Sampo. The Annual General Meeting approved the demerger plan on 17 May 2023. The partial demerger of Sampo plc became effective on 1 October 2023.<ref name=":1">{{Cite web |title=History - 2020s {{!}} Sampo.com |url=https://www.sampo.com/group/history/2020/ |access-date=2024-09-18 |website=www.sampo.com |language=en}}</ref>

In June 2024 Sampo announced its decision to make a recommended, best and final public exchange offer to acquire all of the outstanding shares in Topdanmark not already owned by Sampo.<ref>{{Cite web |title=Inside information: Sampo announces a recommended best and final public exchange offer to the shareholders of Topdanmark {{!}} Sampo.com |url=https://www.sampo.com/media/releases-and-news/2024/inside-information-sampo-announces-a-recommended-best-and-final-public-exchange-offer-to-the-shareholders-of-topdanmark/ |access-date=2025-04-24 |website=www.sampo.com |language=en}}</ref> The preliminary result of the offer was announced on 10 September 2024 and the final result on 16 September 2024. Sampo considered all conditions satisfied and completed the offer. The compulsory acquisition of the remaining Topdanmark minority shares was completed on 25 October 2024.<ref>{{Cite web |title=Recommended exchange offer for Topdanmark {{!}} Sampo.com |url=https://www.sampo.com/group/acquisitions-divestments-and-larger-investments/topdanmark/ |access-date=2025-04-24 |website=www.sampo.com |language=en}}</ref>

== Structure ==
Nowadays, Sampo Group consists of the parent company Sampo plc and the customer brands:

* '''If''', which is the largest P&C insurer in the Nordic Countries;
* the Danish P&C insurance company '''Topdanmark''' and
* P&C insurer '''Hastings''' in the UK.<ref>{{Cite web |title=Group {{!}} Sampo.com |url=https://www.sampo.com/group/ |access-date=2025-04-24 |website=www.sampo.com |language=en}}</ref>

Through its customer brands, Sampo operates in [[Finland]], [[Sweden]], [[Norway]], [[Denmark]], [[Baltic countries]], and the [[United Kingdom|UK]].

== Board of Directors ==
Selected board members at the Annual General Meeting held on April 23, 2025:<ref>{{Cite web |title=Composition of the Board of Directors {{!}} Sampo.com |url=https://www.sampo.com/governance/board-of-directors/composition-of-the-board-of-directors/ |access-date=2025-04-24 |website=www.sampo.com |language=en}}</ref>

* Antti Mäkinen, Chair of the Board since 17 May 2023, Board member 2018-2021
* Risto Murto, Vice Chair of the Board since 23 April 2025, Board member since 16 April 2015
* Christian Clausen, Board member since 21 April 2016
* Steve Langan, Board member since 18 May 2022
* Sara Mella, Board member since 23 April 2025
* Markus Rauramo, Board member since 19 May 2021
* Astrid Stange, Board member since 25 April 2024
* Annica Witschard, Board member since 17 May 2023

==Shareholders==
Sampo has A shares and B shares. Sampo plc's A share has been listed on NASDAQ OMX Helsinki (former [[Helsinki Stock Exchange]]) since January 1988 and is nowadays one of the most valuable companies on [[Nasdaq Helsinki]]. Sampo is also listed on [[Nasdaq Stockholm]] through Swedish Depositary Receipts (SDRs) and on [[Nasdaq Copenhagen]].<ref>{{Cite web |title=Share {{!}} Sampo.com |url=https://www.sampo.com/investors/share/ |access-date=2024-09-18 |website=www.sampo.com |language=en}}</ref>

The largest registered shareholders by number of shares (31 March, 2025). The list does not include owners of nominee-registered shares.<ref>{{Cite web |title=Shareholders {{!}} Sampo.com |url=https://www.sampo.com/investors/shareholders/ |access-date=2025-04-24 |website=www.sampo.com |language=en}}</ref>

{| class="wikitable"
|+ Shareholder structure (31 March 2025)
|-
! scope="col" | Name
!Shares (pcs)
! scope="col" | Percentile
|-
| [[Solidium]] Oy
|166,392,900
| 6.18%
|-
| [[Varma Mutual Pension Insurance Company]]
|111,242,100
| 4.13%
|-
| Ilmarinen Mutual Pension Insurance Company
|38,480,415
| 1.43%
|-
| Oy Lival AB
|21,050,000
| 0.78%
|-
| Elo Mutual Pension Insurance Company
|19,950,000
| 0.74%
|}

At the end of 2024, Sampo had over 195,000 shareholders. Approximately 64 per cent of shares were held by foreign and nominee registered shareholders. <ref>{{Cite web |date=2025-04-24 |title=Shareholders |url=https://www.sampo.com/investors/shareholders/}}</ref>

== Sustainability ==
In 2017, Sampo plc published the first group-level sustainability report. In 2019, the Group joined the [[United Nations|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.<ref>{{Cite web |date= |title=Sustainability, Sampo Group |url=https://www.sampo.com/sustainability/ |access-date=23 November 2021}}</ref>
==Name==

In [[Finnish mythology]], the name "[[Sampo]]" refers to a mythical machine that creates salt, food, flour and gold out of nothing.

==See also==
* [[List of Finnish companies]]

==References==
{{Reflist}}
{{Major insurance companies}}
{{OMX Helsinki 25 companies}}
{{Nasdaq Helsinki}}
{{OMX Nordic 40}}
[[Category:Companies based in Helsinki]]
[[Category:Companies listed on Nasdaq Helsinki]]
[[Category:Companies in the OMX Helsinki 25]]
[[Category:Companies in the OMX Nordic 40]]
[[Category:Former mutual insurance companies]]
[[Category:Financial services companies of Finland]]
[[Category:Financial services companies established in 1909]]
[[Category:Finnish brands]]
[[Category:1909 establishments in Finland]]