The launch of the parent company's strategy, based on which the Baltic countries' service concept will include asset management as part of investment insurance, forms the background of the change of name. In future, Mandatum Life Group will have one strategy and one name.
"Mandatum Life is a strong, highly regarded financial services brand, with a good reputation, formidable investment acumen and strong solvency. We have already been offering Mandatum Life's investment products on the Estonian, Latvian and Lithuanian markets since the autumn of 2008. In March of this year we added full-mandate asset management to our service portfolio. The next logical step is to adopt our parent company's name in the Baltic countries too," comments Imre Madison, CEO of the current SE Sampo Life Insurance Baltic.
The change of name will not affect current customer contracts with Sampo Life.
Mandatum Life and the subsidiary changing name belong to Sampo Group.
History
1998: Operations in Latvia begin
1999: Operations in Estonia begin
2000: Operations in Lithuania begin
2007: Establishment of pan-Baltic SE Sampo Life Insurance Baltic
2010: Sampo Life offers asset management services as part of investment- and life insurance products. Adopts the name Mandatum Life on 1st July.
Key figures (Baltic)
Market share/unit-linked savings products: 32% (Q1 2010) / 26.6% (2009)
Total premiums written: MEUR 12.7 (Q1 2010) / MEUR 42.5 (2009)
AUM: MEUR 134 (Q1 2010) / MEUR 118 (2009)
Number of personnel: 106
No. of customers: 41,000
Additional information:
Petri Niemisvirta, Managing Director, tel. +358 (0)10 516 7200, petri.niemisvirta[a]mandatumlife.fi
Imre Madison, CEO and Head of Estonian Unit, SE Sampo Life Insurance Baltic, tel. +372 681 2327, imre.madison[a]sampolife.ee
Niina Riihelä, Vice President, Marketing and Communications, tel. +358 (0)40 7281 548, niina.riihela[a]mandatumlife.fi