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Main duties

The Board of Directors, elected annually by the AGM, uses the highest decision-making power in Sampo Group between the AGMs

Sampo’s Board of Directors is responsible for the management of the company in compliance with the law, authority regulations, Sampo’s articles of association and the decisions of the shareholders’ meetings.

The working principles and main duties of the Board of Directors have been defined in the Board’s Charter. To ensure the proper running of operations, Sampo’s Board of Directors has approved internal rules concerning general corporate governance, risk management, remuneration, compliance, internal control and reporting in the Sampo Group.

Main duties of the Board of Directors

  • Receives groupwide reporting.

  • Supervises
    • the due organisation of functions and operations;
    • the financial reporting systems and the efficiency of internal audit and risk
      management;
    • related party transactions; and
    • the independence of and non-audit services provided by the Auditor.

  • Resolves on
    • the strategy and other major strategic or far-reaching decisions of Sampo Group;
    • convening of the Annual General Meeting;
    • groupwide and Sampo plc level principles and policies;
    • the minimum requirements of capitalisation and the proposal on profit distribution; and
    • group level remuneration matters.

  • Prepares
    • consolidated financial statements; and
    • proposals for the Annual General Meeting.

  • Appoints, discharges and decides on the Group CEO’s, Group Executive Committee members’ and the Group Chief Audit Executive’s terms of service and financial benefits within the framework of the valid Remuneration Policy.

  • Discusses the annual performance evaluation of the Board of Directors.
Updated 20 Apr 2022