Trump announces trade deal with EU following months of negotiations
HELSINKI - Finnish financial services company Sampo plc announced today a reorganization of its reporting segments, a move following its acquisition of Topdanmark in 2024. The new structure aims to better represent Sampo’s focus as a fully-integrated property and casualty (P&C) insurance group and will be effective from the first quarter of 2025.
The revamped reporting model introduces four main segments: Private, Commercial, Industrial, and UK. The Private segment, which comprises the Nordic private customer business, accounted for 44% of the Group’s insurance revenue in 2024. The Commercial segment, now including Oona Health alongside the Nordic commercial customer businesses, made up 25%. The Industrial segment, representing Nordic industrial customer business, constituted 8%, while the UK segment, previously known as Hastings, comprised 20%.
An additional category, Other operations, will cover the Baltic business and other internal items, representing 3% of the insurance revenue in 2024. Sampo will report key profit and loss figures from gross written premiums to the underwriting result for each segment, while net investment income and insurance finance income or expense will be disclosed at the group level.
Despite the new segmentation, Sampo’s reported group level profit and loss figures and financial targets for 2024-2026 remain unaffected. However, the company will disclose underlying margin development based on its Nordic operations instead of at the group level going forward.
The company has also provided restated key figures for the full years of 2023 and 2024, as well as for each quarter of 2024, which are accessible on Sampo’s website in the investor relations section. This restatement allows for a transparent comparison of performance across the new segments.
This restructuring reflects Sampo’s strategic shift and its commitment to providing clearer insights into its operations for investors and stakeholders. The information for this article is based on a press release statement from Sampo plc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.