Sampo (SAMPO) AGM 2025 summary

Opening remarks and agenda

• Chair Antti Mäkinen opened the AGM with a board-level review of FY2024; CEO Torbjörn Magnusson was to cover results and key events in more detail. The Chair and Group CEO also outlined strategic milestones.

Financial performance review

• FY2024 insurance revenue rose 12%; underwriting result increased 13% to EUR 1,316m and the combined ratio improved to 84.3%.

• Gross written premiums reached EUR 9,931m and profit before taxes was EUR 1,559m; FX-adjusted top-line growth was 12%.

• Premium growth included Nordic private lines up 6.5%, Topdanmark up 16%, personal insurance up 12%, private property up 6% and SME insurance up 5%.

• UK premiums increased 21% and customer numbers rose by more than 400,000; Nordic industrial frequency loss ratio improved 15%.

Performance against financial targets and outlook

• Operating EPS grew 13%, exceeding the 2024–2026 target of over 7%; the 84.3% combined ratio was below the 85% target.

• Solvency II ratio was 177%, within the 150%–190% target range; financial leverage remained well below 30%.

• FY2025 guidance: insurance revenue up 4%–7% to EUR 8.7–9.0bn and underwriting result up 3%–10% to EUR 1,350–1,450m.

• Deployable capital generation reached ~EUR 2bn toward the EUR 4.5bn three-year goal.