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HELSINKI - Sampo Group, a leading Nordic insurance company, has announced its first-quarter results for the year 2025, showing a 9% increase in growth with fixed currency rates. The results were bolstered by a strong performance in personal customer business segments in the Nordics and the UK.
The mild winter and fewer-than-expected large-scale damages supported underwriting margins, improving the combined expense ratio to 84.6%. Underwriting profit rose by 30% to 336 million euros due to robust growth and improved margins. Earnings per share (EPS) increased by 9% to 0.11 euros, with underwriting profit growth outpacing the effects of weaker investment returns and an increased number of shares.
Sampo Group has raised its synergy estimates from the Topdanmark integration to 140 million euros before taxes by 2028, up from the previously projected 95 million euros, due to greater than expected cost synergies.
Following strong performance in the first quarter, the company has updated its outlook for the 2025 underwriting result to 1,400–1,500 million euros, from the previous estimate of 1,350–1,450 million euros. The Solvency II ratio strengthened to 180% from 177% at the end of the previous year, and the debt-to-assets ratio was 25.8%.
Torbjörn Magnusson, CEO of Sampo Group, expressed confidence that the positive momentum will carry through the entire year, maintaining the company’s appeal to investors who value stability and operational excellence.
The Group’s gross written premiums and net insurance premiums contributed to the overall growth, mainly driven by solid development in the personal customer business. The combined expense ratio in the Nordics improved to 83.8%, and digital sales increased by 20% from the previous year. In the UK, competitive but rational market conditions allowed for attractively priced business in home, van, and motorcycle insurance, as well as telematics-based products.
The company’s strong cash flow and balance sheet continue to make capital returns a focal point of interest for investors. Sampo has a track record of attractive returns to shareholders and plans to continue this trend, with additional details on a share buyback program to be provided with the second-quarter results of 2025.
This report is based on a press release statement and has not been independently verified.
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