Sampo Group

Last updated

Sampo Oyj
Type Julkinen osakeyhtiö
Nasdaq Helsinki:  SAMPO
Industry Financial services
Founded1909
Headquarters Helsinki, Finland
Key people
Björn Wahlroos (Chairman), Torbjörn Magnusson (President and CEO)
ProductsLife insurance and Non-Life Insurance
Decrease2.svg €1,541 million (2019)
Decrease2.svg €1,237 million (2019)
Number of employees
Increase2.svg 9,813 (FTE, 2019)
Website www.sampo.com
Footnotes /references
[1]

Sampo Group is a Finnish financial group made up of the parent company Sampo plc, If P&C Insurance Holding Ltd, Mandatum Life Insurance Company 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 9,800 employees. Torbjörn Magnusson is the Group CEO and President for Sampo.

Contents

Largest shareholders of Sampo Group are Finnish national institutions (Government of Finland and State Pension Fund) as well as Varma Mutual Pension Insurance Company, Ilmarinen Mutual Pension Insurance Company and Elo Mutual Pension Insurance Company.

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 Danish Danske Bank so that Sampo could concentrate on its insurance business. [2] The proceeds of the sale were invested in the shares of Nordea, the largest bank in the Nordic region. Sampo currently owns approximately 15.9 per cent of Nordea and is hence a major shareholder in Nordea. [3] Nordea is Sampo's associated company. Sampo owns also 36.25 per cent of Nordax, a leading, niche bank in Northern Europe.

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.

Shareholder structure (30 November 2020)
NamePercentile
Solidium (entirely owned by the Finnish state)7.97%
Varma Mutual Pension Insurance Company 4.01%
Ilmarinen Mutual Pension Insurance Company1.44%
Elo Mutual Pension Insurance Company0.77%
The State Pension Fund0.71%
Kaleva Mutual Pension Insurance Company0.48%

Björn Wahlroos, the Chairman of the Board, controls 4.9 million Sampo A Shares (0.9 per cent).

Foreign and nominee registered owners had 63.6% of Sampo plc's shares (30 November 2020). [4] Sampo plc has 164,692 registered owners.

If

If P&C Insurance is the leading property and casualty insurer in the Nordic region, with more than 3.7 million customers in the Nordic and Baltic countries. [5] If offers insurance and services in Finland, Sweden, Norway, Denmark, Estonia, Latvia and Lithuania.

Mandatum life

Mandatum Life is one of Finland's most respected and solvent financial services providers and part of the Sampo Group. They provide their customers with a variety of services, including wealth management, investments, personal risk insurance as well as incentive and reward solutions. [6]

Mandatum Life has achieved the highest ranking ever by a Finnish company as one of the best workplaces in Europe in the large companies category. In February 2020, Mandatum Life was selected as the number one place to work in Finland in the large companies category of the Great Place to Work® Institute’s survey. Now Mandatum Life has been ranked as one of the top workplaces in Europe, coming in tenth place. [7]

Sampo plc owns the entire stock of the Mandatum Life Insurance Company Limited. The Mandatum Life Group owns Mandatum Life Insurance Baltic SE, which operates in all Baltic countries and is domiciled in Estonia. In Latvia and Lithuania the company operates through branch offices. Mandatum Life's market share of the Finnish and the Baltic insurance markets is about 20 per cent.

Nordea

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. [8] Today Sampo Group owns 15.9% of the banking group and Nordea is Sampo's associated company. [9]

Name

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

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References

  1. "SAMPO, Sampo Oyj A, (FI0009003305) - Nasdaq". www.nasdaqomxnordic.com.
  2. Bank, Danske. "Sampo plc to sell Sampo Bank Group to Danske Bank A/S - Danske Bank". Archived from the original on 3 August 2016. Retrieved 1 June 2016.
  3. https://www.nordea.com/en/investor-relations/share/shareholders/
  4. https://www.sampo.com/investors/shareholders/largest-shareholders/
  5. https://www.if-insurance.com/about-if/about-us
  6. "Company". www.mandatumlife.fi.
  7. "Mandatum Life on Euroopan kymmenenneksi paras työpaikka". www.mandatumlife.fi.
  8. "Releases" . Retrieved 1 June 2016.
  9. https://www.nordea.com/en/investor-relations/share/shareholders/