Sampo as an investment
Sampo is the leading P&C insurance group in the Nordic region, and the only one present in all Nordic countries, customer segments and products. The Group is also a major operator in the growing digital P&C insurance market in the UK.
Sampo has been listed on the Helsinki Stock Exchange since 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.
Why invest in Sampo?
Sampo creates shareholder value through efficient and highly profitable P&C operations. Sampo’s purpose is to provide safety and create value to its customers, owners, and other stakeholders through understanding risks and offering high-quality insurance solutions.
Under Sampo Group’s capital management framework, the Group aims to return a significant share of ongoing surplus capital generation through a reliable regular dividend. Additionally, any excess capital not allocated for business development is returned to shareholders via additional dividends and/or share buybacks.
Market leader in the Nordic P&C
Sampo is the only pan-Nordic P&C insurance group with a leading position in all customer segments through its strong and well-known brands If and Topdanmark. In total, we have around 4 million customers in the Nordics, with focus on private individuals and SMEs.
Being the largest and most diversified operator enables superior scale and cost efficiency, ultimately supporting enhanced risk management and low earnings volatility.
Sampo Group's Nordic P&C operations
2023
| Country | Market position | Gross written premiums, EURbn |
|---|---|---|
| Sweden | #2 | 1.8 |
| Denmark | #2 | 1.9 |
| Norway | #2 | 1.7 |
| Finland | #3 | 1.1 |
| Total Nordics | #1 | 6.6 |
Unique operational capabilities
Sampo is the only Nordic P&C insurance group to have a pan-Nordic operating platform, which has enabled it to build a leading digital offering across the region. Within motor insurance, Sampo is a clear market leader in the Nordics with best-in-class partnership network with OEMs and car dealerships. Our digital capabilities and wide partner network not only enable better customer experience but also create scale benefits and attractive growth opportunities in selected areas.
Distribution mix
If P&C
New digital sales, EURm
If P&C, Business area Private
UK growth potential
In addition to the stable and consolidated Nordic P&C market, Sampo operates in the digital UK motor and home insurance markets. Hastings, our UK P&C subsidiary, is ideally positioned to compete in these markets due to its agile, data-led and lean business model.
P&C insurance market shares,
United Kingdom
Live customer policies, mn
Hastings
Stable and growing earnings
The P&C insurance business is defensive by nature and operating in the stable and highly consolidated Nordic markets provide a solid base for resilient and predictable earnings.
Sampo has an exceptional track record of delivering strong results and a clear focus on underwriting profitability is the cornerstone of our P&C strategy. The group aims to capture growth in selective areas whenever it can be achieved without compromising on profitability.
Sampo targets an operating EPS growth of more than 7 per cent annually on average, while maintaining below 85% combined ratio in 2024-2026.
Group underwriting profit, EURm
Sampo Group
Note: If P&C figures for 2014-2017, Sampo Group figures for 2018-2023
Group combined ratio, %
Sampo Group
Note: If P&C figures for 2014-2017, Sampo Group figures for 2018-2023
Strong balance sheet
Sampo operates with a strong but efficient balance sheet. Following the exit from Nordea, Sampo has excess capital that is committed to be returned to shareholders.
Sampo targets a Solvency II ratio of 150-190 per cent and a financial leverage below 30 per cent.
Group Solvency II ratio
Sampo Group
Attractive capital returns
Sampo aims to a stable and sustainable regular dividend that grows in line with Group’s earnings over time. According to Sampo’s dividend policy, total annual dividends paid will be at least 70 per cent of Group’s operating result. The annual dividend can be completed with additional returns of excess capital via dividends and/or share buybacks.
Total capital returns per share
Note:
2021 buybacks: EUR 750 million (4 October 2021 - 25 March 2022)
2022 buybacks: EUR 228 million (31 March 2022 - 17 May 2022) & EUR 1,000 million (10 June 2022 - 8 February 2023)
2023 buybacks: EUR 400 million (1 Apr 2023 - 1 Aug 2023)
Updated