Beyond the CEO title: a conversation with Morten Thorsrud

As he completes his first year as Group CEO, Morten Thorsrud reflects on his journey so far. Having spent many years within the Group, Morten brought a deep understanding of the business that enabled a smooth transition into his new role as Group CEO. In this blog post, Morten reflects on the past year, motivation, and the values that guide his leadership.

Could you give us a quick update on your background and how you ended up in insurance?

The short version is that I started as a consultant after completing my studies, and the very first project was for an insurance company, in fact the Norwegian part of what is If today. As a consultant, I spent quite a lot of time working with insurance companies and banks, and I even worked with establishing If in 1999.

How would you describe your first year as Sampo Group CEO?

I have an advantage from being part of the group for a long time. I have served as CEO of If and have been a member of Sampo's Group Executive Committee since 2006. Additionally, I have been on the Board of Hastings, so I also know Hastings very well.

However, it is always fun and interesting to step into a new role, meet new people and learn new things. In particular to get to know investors better and focus more on the external part of the job.

I have also spent quite some time internally, getting to know the new colleagues at Sampo. Then of course, working more with the Board of Directors, and interacting a lot with investors, analysts, and media.

The last year has only reconfirmed us as group, confidence in the strength of our business and our position, and confidence in our ability to continue delivering and creating value in the future.

You have been a manager on a high level for a long time. What are the things that keep you motivated and engaged? And is there something that you still want to achieve?

What inspires me is the drive to make things even better. Rather than looking for problems, I look for opportunities. Insurance is such a complex business, so there are always things that we can do better. 

I find motivation in working with people, meeting them, discussing, and building the right organisation, the right culture, and the right structure.  

My role is all about making sure that Sampo as a group continues to prosper, develop, and create value for our shareholders by excelling in the markets we operate in.  This all begins with creating value for customers.

How would you describe your leadership style?

I think cooperation and values have become increasingly important to me over time. Leadership is about ensuring you have the right people in place, particularly leaders with the right values. Culture is built by people and their behaviour. If you have the right people with the right values, I think that cascades throughout the organisation. For me, the value dimension of leadership, as in strong moral, and ethical values are extremely important.

A random person stops you on the street and asks, “Why should I consider investing in Sampo?”. What would you answer?

Because Sampo is the most modern P&C insurance group in Europe, and the company that is best positioned to capture all the opportunities in the future in this field.

How do you recharge outside work? ​

I have the typical Norwegian hobbies of spending time outdoors and skiing in the winter. I also try to do a lot of running. I typically say that it is not because I think it is super fun, but it is still somewhat rewarding. As I travel a lot, running is the simplest sport to choose. I always take my running gear with me – for me, it is a good way to recharge and get my mind on something else. And of course, prioritising spending time with my family and close friends is essential.