Mandatum Group consists of two business areas: life insurance and asset management. Mandatum Life (Mandatum Life Insurance Company Limited) offers services in wealth management, rewards and compensation, retirement plans and personal insurance to private and corporate customers. Mandatum Asset Management is an investment firm, which combines fund business, discretionary and consultative wealth management, and asset management services for the Sampo Group.
Mandatum Life (Mandatum Life Insurance Company Limited) and its Group companies offer services in wealth management, rewards and compensation, retirement plans and personal insurance to private and corporate customers. Mandatum Life is a wholly-owned subsidiary of Mandatum Holding Ltd. Mandatum Life is made up of Mandatum Life Services Ltd. and Mandatum Incentives Ltd. Mandatum Life Insurance Company Limited is a wholly-owned subsidiary of Mandatum Group and a sister company to Mandatum Asset Management Ltd.
Mandatum Life’s predecessor, Sampo Life, was founded in 1997 as part of what was at the time the P&C insurance group Sampo. Sampo’s life insurance business dates back to 1874, when Finland’s oldest life insurance company, Kaleva, was founded. In 2008, wealth management was introduced alongside life insurance, and the new strategy was summed up with the slogan “Your money, your life”. Mandatum Life was born.
Mandatum Life creates financial security for its customers by combining asset management and life insurance.
The Chairman of Mandatum Life’s Board of Directors is Patrick Lapveteläinen, and the company’s President and CEO is Petri Niemisvirta.
Mandatum Life has a 75 per cent holding in its subsidiary Mandatum Incentives Ltd, which offers equity-based incentive schemes.
Premiums written EUR 1,390 million (1,367)
Profit before taxes EUR 127.5 million (252.9)
Solvency ratio 249% (190)
Number of personnel 91 (98)
Unit-linked liabilities (31 Dec 2022) EUR 10,712 million (10,712)
Technical provisions (31 Dec 2021) EUR 2,969 million (3,246)
Mandatum Life Annual Report 2022
Mandatum Life Services Ltd is a subsidiary of Mandatum Life and an insurance intermediary registered with the Finnish Financial Supervisory Authority, which provides reward consulting services and personnel fund management services to companies and organisations, pension services to companies and pension funds, and securities trading services as Saxo Bank A/S’s tied agent through the Trader service offered by Saxo Bank A/S.
Mandatum helps its customers discover a method of rewarding that best suits their strategy and objectives. Mandatum Life Personnel Fund Services is the only company in Finland to offer comprehensive management services for personnel funds. The management services include consultation related to setting up a fund, maintaining a membership database, share payments, accounting, member advisory services, and conference, secretarial and advisory services for fund managers.
Mandatum Life Pension Services offers companies expert assistance in arranging pension cover and in reporting pension expenses. The service compares the various pension options available and finds the most suitable one for each company. Pension Services can also help set up pension funds and provide all the services that the funds require.
Trader is a securities trading service offered by Saxo Bank A/S, which Mandatum Life Services represents in Finland. Mandatum Life Services Ltd acts as Saxo Bank A/S’s tied agent and is responsible for Trader’s Finnish customer service, client identification and service marketing. Saxo Bank is responsible for trading within the service, regulatory reporting and custodial services for securities. When using Trader, a customer account is established with Saxo Bank.
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Reward & Compensation Services »
Mandatum Life has a 75 per cent holding in its subsidiary Mandatum Incentives Ltd, which specialises in equity-based incentive schemes. It designs and implements incentive, retention and reward and compensation schemes, offers related consultation services and provides various remuneration analyses and reward and compensation policies and reports.
Mandatum bought from Nordhaven Corporate Finance its business focusing on equity-based incentive schemes in 2021. Following the acquisition, Nordhaven's equity-based incentive scheme specialists and customer accounts were transferred to Mandatum Incentives Ltd.
Mandatum Asset Management (MAM) combines Mandatum’s and Sampo’s asset management expertise. Its mission is to serve institutional investor clients, offer funds and wealth management services to both its customers and Mandatum Life’s customers and manage Sampo Group’s investment assets. Mandatum Asset Management also acts as an insurance intermediary registered with the Finnish Financial Supervisory Authority for Mandatum Life.
Mandatum Asset Management manages approximately EUR 16.1 billion in assets.* This includes Mandatum Life’s and Kaleva’s unit-linked assets, Sampo’s, Mandatum Life’s and Kaleva’s strategic investments, and the companies’ own investment funds and those of the partner companies.
Mandatum Asset Management’s operations are reflected on the entire Mandatum Group in close co-operation between Mandatum Asset Management and Mandatum Life. For Mandatum Life’s customers, the company’s co-investment strategy can be seen in, for instance, the private wealth management services and pension solutions.
MAM has established itself as one of the leading asset managers in Finland. Its investment philosophy leans on Sampo Group’s shared principles: Investment selection, Opportunism, Patience.
The Chairman of the company’s Board of Directors is Sampo’s CIO Patrick Lapveteläinen, and the Deputy Chairman is Mandatum Group’s President and CEO Petri Niemisvirta. Lauri Vaittinen is the company’s President and CEO.
Profit before taxes EUR 0.7 million. The profit is reduced by a EUR 29 million group contribution paid to Sampo plc.
136 investment professionals
Assets Under Management (AUM) approx. EUR 16.1 billion*
*The figure does not include assets directly managed by If.
Mandatum Asset Management’s Annual Report 2022
Read more on Mandatum Asset Management’s website
Mandatum Asset Management’s subsidiary Mandatum AM AIFM Ltd was established when MAM bought the share stock of Trevian Funds AIFM in 2021.
Emilia Riikonen is the CEO of Mandatum AM AIFM Ltd and Risto Aro is the company’s Head of Real Estate Investments.
The strategy of the Mandatum AM AIFM-managed real estate fund that invests in Finland is to acquire properties that demand expertise and active real estate management in the Helsinki Metropolitan Area and in regional growth centres. The fund’s investments place a special emphasis on sustainability.
Mandatum Fund Management S.A. is a wholly-owned subsidiary of Mandatum Asset Management and manages Mandatum Asset Management’s UCITS funds registered in Luxembourg.