Fannie Mae, Freddie Mac shares tumble after conservatorship comments
HELSINKI - Sampo Group announced Wednesday that Morten Thorsrud will succeed Torbjörn Magnusson as CEO effective October 1, 2025, according to a company press release.
Thorsrud, who currently serves as CEO of Sampo’s largest operating entity, If P&C, will take over leadership of the Nordic insurance group after Magnusson retires from the role. Magnusson will remain with the company as a Senior Advisor until December 31, 2025.
"With the strategic transformation of Sampo complete and the business in excellent shape, I have come to the conclusion that it is time for me to hand over to the next generation of leadership," Magnusson said.
Thorsrud has been with Sampo Group for 23 years and has led If P&C as its chief executive. The appointment represents continuity in leadership for the insurance company.
Antti Mäkinen, Chair of the Board of Sampo plc, noted that Thorsrud’s appointment "reflects our commitment to operational excellence" and that he was selected from "a strong set of high-quality internal candidates."
The incoming CEO expressed his commitment to bringing the same focus on customer service and digital capabilities that he implemented at If P&C to his new role at the parent company.
Magnusson has served with Sampo since 1999 and has overseen the company’s strategic transformation and expansion in the Nordic property and casualty insurance market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.