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HELSINKI - Finnish insurer Sampo Oyj reported an 8% increase in comparable gross written premiums for the first half of 2025, driven by strong performance in its personal lines business across Nordic countries and the United Kingdom (TADAWUL:4280).
The company’s underwriting result rose 25% at constant exchange rates to €729 million, supported by favorable claims development and improved profitability in the Nordic region. The combined ratio improved to 83.6%, reflecting better underlying risk and cost ratios.
Earnings per share for operational results strengthened by 13% to €0.25, with strong underwriting results offsetting weaker investment returns and the impact of an increased share count.
"Sampo achieved excellent results in the second quarter, supported by growth in attractive areas, disciplined risk assessment and pricing, and productivity improvements," said Sampo Group CEO Torbjörn Magnusson.
Personal lines business grew by 9% in the Nordic region and 13% in the UK on a comparable basis. In the UK market, Sampo sold 154,000 new insurance policies during the second quarter while growing its underwriting result by 22%.
Based on the strong second-quarter performance, Sampo raised its 2025 underwriting result outlook to €1,425-1,525 million from the previous guidance of €1,400-1,500 million.
The company announced plans to launch a new €200 million share buyback program, to be financed with capital accumulated in 2024. Sampo’s Solvency II ratio stood at 174% after accounting for dividend accrual and the planned buyback program.
Magnusson, who will retire on October 1, 2025, will be succeeded by Morten Thorsrud, the current CEO of Sampo’s largest operational unit, If.
This article is based on information from Sampo’s half-year financial report.
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