Sampo Group News

Finland’s Sampo Steps Up Move to Become Pure Insurance Group, Cutting Nordea Stake

Finnish financial group Sampo plc is continuing its transformation into a pure insurance group with an announcement that it will substantially cut its 15.9% stake in Nordea Bank. Sampo’s board and management said the company will focus on high-quality P/C …

Finnish Insurer Sampo Books Q4 Loss on Banking Group Stake

Finnish financial group Sampo on Thursday reported a fourth-quarter loss as the company booked a 899 million euro ($1.09 billion) impairment charge due to a revaluation of its shares in banking group Nordea. The unexpected earnings hit was offset by …

Sampo Should Sell Holding in Lender Nordea to Focus on Insurance: Activist Investor

Finnish financial group Sampo should sell its 4.3 billion euro ($5.2 billion) holding in lender Nordea this year and focus on its insurance operations, Elliott Advisors said on Tuesday. The activist investor said this would restore investor confidence and unlock …

Sampo Group and S. African Investor to Acquire UK Insurer Hastings for $2.2B in Cash

UK insurer Hasting Group Holdings has agreed to a £1.66 billion (US$2.2 billion) cash acquisition by Finnish insurer Sampo and Rand Merchant Investment Holdings Ltd., a South African financial services investment company. Hastings investors will receive 250 pence for each …

Finland’s Sampo Oyj Explores Cash Offer of UK Insurer Hastings

Finnish insurance group Sampo Oyj is exploring an entry into the UK market with a potential bid for general insurer Hastings Group Holdings Plc. Sampo and Hastings’s biggest shareholder, Rand Merchant Investment Holdings Ltd., have approached the London-listed insurer about …

Finland’s Sampo Names Magnusson as CEO and President, Succeeding Stadigh

Nordic insurance and financial holding group Sampo said on Thursday that Torbjorn Magnusson would take over as chief executive and president from Kari Stadigh next year, as well as becoming chairman of Nordea. “Torbjorn Magnusson will immediately start focusing on …