Mandatum is part of the development of Finland’s financial markets and its roots date back close to 150 years, when the life insurance company, Kaleva, was founded in 1874. In 1997, part of Kaleva’s insurance portfolio was transferred to the newly established life insurance company Sampo Life. A year later, the life insurance company Nova was merged with Sampo Life and in 2000, Leonia Life Insurance came aboard. The next year, the Sampo-Leonia bank group bought Mandatum Bank. Mandatum’s story in its current form began in 2008 when the old investment bank’s name was resurrected and Sampo Life became Mandatum Life. At the same time, the new Money and Life strategy was launched and wealth management was established alongside the life insurance operations. This history illustrates the key milestones of Mandatum’s business. 

• • 1874: Finland’s oldest insurance company, Kaleva, was established.
  • 1996: Sampo Life Insurance Company Limited was established.
  • 1997: Individual and group pension portfolios were transferred from Kaleva to Sampo Life.
  • 1998: Sampo Life and Nova Life Insurance Company Ltd merged.
  • 2000: Leonia Life Insurance was merged with Sampo Life.
  • 2002: Sampo Life made a strategic decision to focus on unit-linked investment products.
  • 2004: Sampo Life bought Sampo’s Baltic life insurance companies from Sampo.
  • 2007: An agency agreement was made with Sampo Bank (currently Danske Bank A/S Finnish branch), offering Sampo Life exclusive rights to sell life and pension insurance products through Danske Bank’s branch network in Finland.
  • 2008: Sampo Life Insurance Company Limited changed its name to Mandatum Life Insurance Company Limited. At the same time, wealth management was established alongside life insurance, and the new strategy was summed up with the slogan “Your money, your life”.
  • 2018: Mandatum and Danske Bank agreed on a renewed co-operation and agency agreement.
  • 2021: The Group’s internal restructuring was carried out. Mandatum Life was transferred from Sampo and MAM was transferred from Mandatum Life to Sampo’s subsidiary Mandatum Holding, which became the parent company of Mandatum Group, and MAM and Mandatum Life became sister companies. Sampo’s investment operations transferred to Mandatum Asset Management in a business transfer.
  • 2021: Mandatum acquired Nordhaven’s business focusing on equity-based incentive schemes and Nordhaven’s equity-based incentive scheme specialists and customers transferred to Mandatum Incentives Ltd.
  • 2021: Swedish branch was established.
  • 2022: The Baltic life insurance business was sold to the Lithuanian Invalda INVL Group and the entire Baltic life insurance business and its employees transferred to the Invalda INVL Group. The transaction took place in 2022.
  • 2022: Sampo plc’s Board of Directors announced it has begun a strategic review of Mandatum’s role in the Sampo Group.
  • 2023: Sampo’s Board of Directors resolved on 29 March 2023 to propose a partial demerger of Sampo plc by separating Mandatum from the Sampo Group. Sampo’s General Meeting of 17 May 2023 approved Sampo plc’s partial demerger in line with the demerger plan approved and signed by the Board of Directors in March.
  • 2023: The partial demerger of Sampo plc was carried out on 1 October 2023 and the resulting Mandatum plc became the new parent company of the Mandatum Group. Simultaneously, Mandatum was separated from the Sampo Group. Mandatum plc’s shares were admitted for trading on Nasdaq Helsinki Ltd’s stock exchange list on 2 October 2023.