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HELSINKI - Nordic insurer Sampo plc has increased its operating earnings per share (EPS) growth target for 2024-2026 to more than 9 percent annually, up from the previous target of more than 7 percent, following strong performance in the first nine months of 2025.
The insurance group reported an 8 percent like-for-like premium growth in the third quarter, driven primarily by strong momentum across private and small-to-medium enterprise (SME) lines. Private Nordic business achieved a 10 percent increase in gross written premiums, marking its fourth consecutive quarter of record growth.
Sampo's underwriting result for the January-September period rose 17 percent on a currency adjusted basis to EUR 1,121 million, while operating EPS strengthened by 14 percent. Reported earnings per share increased by 40 percent to EUR 0.54, supported by a EUR 355 million net gain from NOBA following its successful IPO in September.
"The strong and sustained growth delivered by our retail and SME divisions shows that our organic growth strategy has traction," said Morten Thorsrud, Sampo Group CEO, in a statement based on the company's press release.
The company maintained its 2025 outlook, forecasting group insurance revenue between EUR 8.9-9.1 billion, representing growth of 6-9 percent year-on-year, and an underwriting result of EUR 1,425-1,525 million, an increase of 8-16 percent.
Sampo also announced plans to launch a new EUR 150 million share buyback program funded by proceeds from the sale of NOBA shares during its IPO, where Sampo reduced its holding from 20 percent to 15 percent.
The group's Solvency II coverage ratio stood at 172 percent after accounting for dividend accrual and the new buyback program, while financial leverage amounted to 24.5 percent.
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