In line with its strategic focus on P&C insurance, the Board of Directors of Sampo plc has taken several steps in recent years to simplify Sampo Group, with the largest being the exit from Nordea. Building on this, the Board has decided to undertake a strategic review of Mandatum.
The review will explore a broad range of options, including whether a separation of Mandatum from the rest of the Group, for example through a partial demerger and listing, could be in the best interest of Sampo’s shareholders. The Group will provide an update on the review in connection with the publication of the full-year 2022 results on 10 February 2023.
- The Board is content with Sampo’s current structure, which offers diversification and attractive cash flow. The strategic review will assess potential benefits in further focusing the Group on its unique P&C operations, by allowing investors to own these directly and providing Mandatum with greater strategic flexibility. The Board will only recommend changes to the structure if clear visibility on shareholder value creation can be attained, says Björn Wahlroos, Chair of the Board.
In the event that the Board opts to recommend the partial demerger option as a means to separate Mandatum from the Group, the proposal would be subject to approval from a General Meeting of Sampo plc.
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Mandatum in brief
Mandatum offers private and corporate customers services in wealth management, asset management, rewards and personal insurance. Mandatum’s main area of operation is Finland, where the company has 300,000 private customers and 20,000 corporate customers. Mandatum has approximately 580 employees and is a wholly owned subsidiary of Sampo plc.
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