Acquisitions, divestments and larger investments

In 2011, Sampo's (If P&C's) shareholding in Topdanmark exceeded 23 per cent and Sampo started to consolidate Topdanmark as an associated company.

In 2016, Sampo's ownership in Topdanmark increased to 33,34 per cent and Sampo made a mandatory no-premium offer for all shares in Topdanmark. Following the completion of the offer, Sampo held 41,11 per cent of the shares and voting rights in Topdanmark.

Since Q4/2017, Sampo has treated Topdanmark as a subsidiary. At the end of 2023, Sampo held approximately 44 million Topdanmark shares, corresponding 48.9 per cent of shares and 49.6 per cent of votes.

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Sampo announced in June 2024 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. The offer period began in August and expired on 9 September 2024. The final result of the offer was published on 16 September 2024.

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In December 2022, the Board of Directors of Sampo announced a strategic review of Mandatum’s role within the Group. In March 2023, following an assessment of options, the Board resolved to propose the Annual General Meeting a partial demerger of Sampo plc to separate Mandatum from the Group. The Annual General Meeting held on 17 May 2023 approved the demerger.

The demerger was completed on 1 October 2023 and each Sampo shareholder  received one new share in Mandatum as demerger consideration for each share owned in Sampo. The trading of Mandatum shares on Nasdaq Helsinki began on 2 October 2023. 

The life insurance company had adopted the name Mandatum in 2008. Before that, the life company was known as Sampo Life. The company was established in 1997 in connection with significant structural reorganisation between Sampo, Sampo Life, Sampo Pension, Nova, Pension-Varma and Enterprise-Fennia affecting life and employment pension companies in Finland.

Mandatum was a fully owned subsidiary of Sampo plc until September 2023 offering private and corporate customers savings and investment, compensation and rewards, pension plans and personal risk insurance with Mandatum Life brand as well as asset and wealth management services via Mandatum Asset Management (MAM).

In 2007, Sampo started to buy shares of Nordea. In 2010, Sampo's shareholding in Nordea exceeded 20 per cent and the bank became an associated company of Sampo. The average price paid per share amounted to EUR 6.46.

In August 2019, Sampo’s ownership in Nordea decreased slightly below 20 per cent due to distribution of an extra dividend.

Release, 13 Aug 2019internal link

In August 2020, Sampo and a South African financial services investment holding company Rand Merchant Investment Holdings (RMI) made a recommended cash offer, through a jointly owned company, to acquire UK P&C insurance company Hastings.

Following the completion of the deal in November 2020, Sampo owned 70 per cent and RMI 30 per cent of Hastings, which became Sampo’s subsidiary. The size of Sampo’s investment was approximately EUR 1.3 billion.

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In December 2021, Sampo took full ownership in Hastings by acquiring RMI’s 30 per cent ownership in the company and the option held by RMI to acquire 10 per cent of Hastings’ share capital from Sampo by May 2022. The transaction price was approximately EUR 806 million, valuing the total acquisition price of Hastings to approximately EUR 2.1 billion

Release, 8 Dec 2021internal link

In September 2018, Sampo’s ownership in Intrum exceeded 5 per cent. Intrum is a Swedish credit management company.

Sampo sold its 5.2 per cent stake of Intrum in February 2020.

In November 2019, Sampo announced that its subsidiary If has signed an agreement to acquire Norwegian roadside assistance company Viking. The acquisition price is EUR 32 million and the enterprise value of the transaction is EUR 114 million.

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In October 2017, Sampo announced that it will buy 19.9 per cent of shares in Saxo Bank Group, a Danish fintech company specialized in online trading. At the same time, Geely Financials Denmark A/S, a subsidiary of Zhejiang Geely Holding Group Co., Ltd announced that it will increase its stake become majority shareholder with a total of 51.5 percent in Saxo Bank.

The size of Sampo's investment was EUR 265 million.

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In July 2019, Sampo invested EUR 20 million, corresponding to its ownership, in Saxo in connection with the BinckBank acquisition made by Saxo.

In September 2023, Sampo agreed to sell its stake in Saxo Bank to Mandatum at fair value in connection with the partial demerger of Sampo plc. The sale received final regulatory approvals in May 2024. The transaction price was EUR 302 million and the transaction was completed on 13 May 2024.

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In September 2017, Sampo participated as an indirect minority co-investor in the voluntary offer by Evergood 5 AS to acquire Nets, a Danish fintech company specialized in digital payments. Evergood 5 AS is a company controlled by funds managed and advised by Hellman & Friedman LLC.

The size of Sampo's investment was EUR 230 million.

Release, 25 Sep 2017internal link

In 2015, Sampo (Sampo plc and Mandatum Life) invested in Asiakastieto (Enento Group since June 2020), a Finnish provider of business and consumer information services. At the end of July 2020, Sampo held 12.2 per cent of shares and votes in Enento Group.

In September 2023, Sampo agreed to sell its stake in Enento to Mandatum at fair value in connection with the partial demerger of Sampo plc. The transaction was completed in November 2023.

In 2014, Sampo's subsidiary Mandatum Life acquired Suomi Mutual Life Insurance Company's with-profit group pension portfolio.

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In 2013, Sampo's subsidiary If P&C acquired Danish Tryg's businesses in Finland. The Transaction price was EUR 15 million.

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In 2007, Sampo sold its banking unit Sampo Bank to Danish Danske Bank. The transaction price was EUR 4.05 billion.

In 2001, Sampo's P&C Insurance operations merged with Swedish If. Following the merger, Sampo owned 38.05 per cent of If. At the time, other shareholders of If were Storebrand (22.47%), Skandia (19.36%), Skandia Liv (10.06%) and Varma-Sampo (10.06%)

In 2004, If became a fully-owned subsidiary of Sampo in two phases. First, Sampo acquired 51.89 per cent of shares from Storebrand and Skandia and then the remaining 10.06 per cent of shares from Varma.

In 2001, Sampo-Leonia acquired Mandatum Bank by directed share issue. The Group's name was shortened to Sampo.