Sampo (SAMPO) AGM 2026 summary

Opening remarks and agenda

• Chair Antti Mäkinen opened the meeting; the agenda included Board elections and other business.

• CEO Morten Thorsrud led the meeting and addressed shareholders at his first AGM as CEO, following his appointment in October 2025.

Financial performance review

• FY2025 insurance revenue grew 8% to EUR 9,078 million; underwriting result rose 13% to EUR 1,485 million and the combined ratio improved to 83.6% from 84.3%.

• Operating EPS, excluding extraordinary items and unrealized investment value changes, increased 7% to EUR 0.50; reported EPS rose 65% to EUR 0.74, supported by a EUR 540 million NOBA gain.

• Organic premium growth supported underwriting results, alongside benign weather and fewer large claims than anticipated.

• Investment returns reached 7.6% in 2025, largely driven by NOBA’s September listing; portfolio returns averaged more than 4% annually over the prior 17 years.

• IFRS shareholders’ equity increased 10% to EUR 7,794 million, while financial leverage declined to 23.6%.

Board and executive committee updates

• Torbjörn Magnusson retired as Group CEO; Morten Thorsrud succeeded him from October 2025. CFO Knut Arne Alsaker resigned in autumn 2025 and Lars Kufall Beck succeeded him; both appointments were internal.

• The Board met 11 times in 2025, with attendance close to 100%; it proposed eight members and Andreas Brandstetter’s election. Christian Clausen declined re-election after 10 years.

• Top management team members average more than 15 years’ experience.