Sampo Group

This article is about the insurance company. For the bank that previously shared the same name (a part of Sampo Group until 2006), see Danske Bank.
Sampo plc
Public company (Nasdaq Helsinki: SAMPO)
Industry Financial services
Founded 1988
Headquarters Helsinki, Finland
Key people
 Björn Wahlroos (Chairman), Kari Stadigh (President and CEO)
Products Insurance
Profit €1.404 billion (2012)
Total assets €32.05 billion (end 2012)
Number of employees
 6,767 (FTE, 31 March 2013)
Website www.sampo.com

Sampo Group is a Finnish financial company made up of the parent company Sampo plc and If P&C Insurance Holding Ltd and Mandatum Life Insurance Company, both of which are its fully owned subsidiaries. The Helsinki-based parent company administers the subsidiaries. Sampo Group employs nearly 6,800 employees. Kari Stadigh is the Group CEO and President for Sampo.

Sampo Group had a banking operations under the name of Sampo Bank between 2000 - 2006. In November 2006, it was disclosed that the banking business of Sampo is sold to the Danish Danske Bank, so that Sampo will concentrate on its insurance business.[1] The proceeds of the sale were invested in the shares of Nordea, the largest bank in the Nordic region. Sampo currently owns more than 20 per cent of Nordea Bank AB, the Nordic banking group. Nordea is Sampo's associated company.

Share

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 (31 October 2014):

1. Solidium (entirely owned by the Finnish state) 11.90%

2. Varma Mutual Pension Insurance Company 6.35%

3. Björn Wahlroos 2.10%

4. Ilmarinen Mutual Pension Insurance Company 1.00%

5. Kaleva Mutual Insurance Company 0.93%

Foreign and nominee registered owners has 59.57% of Sampo plc's shares (31 October 2014).[2] Sampo plc has more than 81,000 registered owners.

If

If P&C Insurance is responsible for Sampo Group's property and casualty insurance operations. If P&C Insurance is the leading property and casualty insurer in the Nordic region, with approximately 3.6 million customers in the Nordic and Baltic countries. If offers insurance solutions and services in Finland, Sweden, Norway, Denmark, Estonia, Latvia, Lithuania and Russia.

Mandatum Life

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 AB, commonly referred to as Nordea, is a Nordic-based financial services group operating in Northern Europe. In October 2009 Sampo plc received permission from Swedish authorities to acquire more than 20% of Nordea.[3] Today Sampo Group owns 21.2% [4] of the banking group and Nordea is Sampo's associated company.

Name

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

See also

References

  1. ↑ Bank, Danske. "Sampo plc to sell Sampo Bank Group to Danske Bank A/S - Danske Bank". Retrieved 1 June 2016.
  2. ↑ "Largest Shareholders". Retrieved 1 June 2016.
  3. ↑ "Releases". Retrieved 1 June 2016.
  4. ↑ "http://www.nordea.com/Investor%20Relations/Share/Shareholders/85732.html". Retrieved 1 June 2016. External link in |title= (help)
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