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HELSINKI - Sampo Group, a leading Nordic insurance company, reported notable growth in its first quarter earnings for 2025, with underwriting profits increasing by 30% on a currency adjusted basis. The company’s combined ratio improved to 84.6%, indicating a strong start to the year with disciplined pricing and high customer retention contributing to the positive results.
The Group’s gross written premiums rose by 10%, while net insurance revenue saw an 8% increase compared to the same period last year. Operating earnings per share (EPS) strengthened by 9% to EUR 0.11, despite softer investment returns and a higher share count.
Following the integration of Topdanmark, Sampo has raised its estimated synergies to EUR 140 million by 2028, a significant increase from the previously projected EUR 95 million, attributing the rise to greater expected cost benefits.
The favorable quarter has led Sampo to revise its 2025 outlook, now anticipating an underwriting result between EUR 1,400–1,500 million, up from the previous forecast of EUR 1,350–1,450 million. The Solvency II coverage ratio also saw an increase to 180% from 177% at the end of the previous year, and the financial leverage stood at 25.8%.
Torbjörn Magnusson, Sampo Group CEO, expressed confidence in maintaining the momentum throughout 2025, emphasizing the company’s commitment to shareholder value and operational excellence. He highlighted the benign winter weather and large claims as factors contributing to the strong first-quarter performance, along with the strategic focus on customer satisfaction and retention.
Sampo’s outlook for 2025 remains positive, expecting insurance revenue to reach EUR 8.8–9.1 billion, representing a year-on-year growth of 5–9%. The Group’s financial targets for 2024–2026 include maintaining a combined ratio below 85% annually and achieving more than 7% average annual growth in operating EPS.
The reported financial results are based on a press release statement issued by Sampo Group. The company’s continued focus on digitalization and technology investments, particularly following the acquisition of Topdanmark, is anticipated to drive cost synergies and enhance performance in the Danish market.
Investors and analysts are directed to Sampo Group’s website for access to the full interim statement for January-March 2025, investor presentations, and subsequent conference call details.
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