Strategy

In the Nordics, Sampo has a market share of approximately 20 per cent across the region. Sampo leverages its regional scale, digital capabilities, and unique underwriting culture to attain competitive advantages that allow it to create a superior customer proposition.

The integrated pan-Nordic operating platform that is built within the group plays a key role in Sampo’s Nordic P&C insurance strategy. Through its strong customer brands, Sampo offers a full range of P&C insurance solutions and services to a broad customer base, from private individuals to large corporate customers.

In the UK, Sampo is one of the leading P&C insurers in digital motor insurance and a challenger in a fast-growing digital home insurance. Sampo aims to grow by leveraging its strong competitive position and by further developing this through investments in technology and other operational capabilities. Navigating the volatile UK insurance market is supported by Sampo’s long-term mindset as short-term fluctuations often present strategic challenges for less diversified groups.

Disciplined capital management is essential to value creation. Hence, Sampo is committed to operating with a strong but efficient balance sheet, calibrated to reflect the Group’s risk exposures. Ongoing surplus capital generation is returned to shareholders mainly through the regular dividend that can be complemented with additional capital returns through buybacks and/or extra dividends Sampo finds itself in an excess capital position. Sampo’s M&A appetite is limited to bolt-on acquisitions in its existing markets.

Private Nordic

Sampo operates in the Nordic private insurance market through its main brand, If, and other brands including Topdanmark and various white-label partnerships. Private Nordic is the Group’s largest segment. In 2024, the segment represented 44 per cent of the Group’s total insurance revenue of EUR 8.4 billion. Sampo benefits from a broad range of distribution capabilities in the Nordic private market, including a strong digital platform and a market-leading partnership network with car dealerships.

The largest product segments for private individuals are motor and home insurance, but Sampo also offers other insurance covers, such as travel insurance and other personal accident covers. In total, the Group serves around 3.7 million households in Sweden, Denmark, Norway, and Finland.

Private UK

In the UK, Sampo operates the private insurance market through its customer brand Hastings, which is one of the leading digital P&C insurance providers focused on serving UK car, van, bike, and home insurance. In 2024, the segment represented 20 per cent of the Group’s insurance revenue.

Although Sampo is one of the major motor insurance providers in the UK, it retains substantial growth potential in the product, while its presence in the home insurance market is small but growing. The Group serves over 4 million UK customers and is specialised in price comparison distribution, advanced pricing, anti-fraud, and digital capabilities.

Nordic Commercial

Sampo operates in the Nordic commercial insurance market through its customer brands If, Topdanmark, and Dansk Sundhedssikring (Oona Health) with a particular focus on SMEs. In 2024, the segment represented 25 per cent of the Group’s insurance revenue.

Sampo’s Nordic commercial lines business is mainly written direct, although brokers also play an important role in the market. While property and motor insurance risks also dominate in the commercial business area, certain liability covers are also prominent. In total, the Group serves around 450,000 Commercial customers in Sweden, Denmark, Norway, and Finland.

Nordic Industrial

Sampo is the leading insurer of large corporates in the Nordics through the If-brand. Corporates with turnover of more than SEK 500 million (circa EUR 45 million), or more than 500 employees, are classified as Industrial customers. In 2024, the segment represented 8 per cent of the Group’s insurance revenue.

Sampo benefits from long-standing relationships with many Nordic industrial lines customers, allowing it to work closely with these and to add value via its strong risk management capabilities. In total, the Group serves around 1,200 companies.