The name of the parent company is Sampo-Leonia plc. However, the company's Board of Directors has proposed to the Annual General Meeting convening on 5 April 2001 that the parent company be renamed Sampo plc and the Articles of Association be amended accordingly. If the proposal is approved, the name will enter into force approximately on 9 April 2001.
In the structural reorganisation Sampo Enterprise Insurance Company Limited and Industrial Insurance Company Ltd first merged into their parent company, whereupon the parent company discontinued its insurance business, renounced the licence required for that purpose and surrendered its insurance portfolio to two new non-life insurance companies. The names of the new companies are Sampo Insurance Company Ltd and Sampo Industrial Insurance Company Ltd. The former was given the retail and corporate customers' portfolio, and the latter the major customers' portfolio.
The Sampo Group's parent company is Sampo-Leonia plc (proposed Sampo plc) and its subsidiaries among others Sampo Bank plc, Mandatum Bank plc, Sampo Life Insurance Company Limited, Sampo Insurance Company Ltd and Sampo Industrial Insurance Company Ltd.
Further information on the transfer to the holding company structure is available in the previously published stock exchange releases of 24 February 2000, 12 April 2000, 29 September 2000 and 16 February 2001.
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