Q4 2025 Sampo Oyj Earnings Call Transcript
Key Points
- Sampo Oyj (SAXPF) achieved like-for-like growth of 8% in 2025, driven by strong performance in private and SME segments.
- The company reported an underwriting profit of EUR1.5 billion, supported by disciplined underwriting and a benign claims environment.
- Operating EPS reached EUR0.50, with a proposed regular dividend of EUR0.36 per share, marking a 6% increase year on year.
- Sampo Oyj (SAXPF) successfully integrated Topdanmark, achieving EUR37 million in run rate synergies, ahead of the original EUR24 million target.
- The company demonstrated strong investment income, particularly from its stake in NOBA, which contributed a EUR540 million gain following its IPO.
- Motor pricing in the UK continued to soften throughout 2025, impacting the company's ability to achieve target margins.
- The regulatory process around the Danish partial internal model has taken longer than anticipated, delaying expected benefits.
- Sampo Oyj (SAXPF) faces challenges in achieving its target margins in the UK market due to current pricing trends.
- The company is cautious about deploying new investments due to tight spreads, high equity valuations, and geopolitical uncertainties.
- There is a potential risk of slower policy growth in the UK, as the company scales back activity in line with market pricing trends.
Good morning everyone and welcome to Sampo Group's conference call on full year 2025 results.
My name is Mirko Hurmerinta, Investor Relations Manager at Sampo.
I'm joined on the call by Group CEO, Morten Torscht; Group CFO, Knut Arne Alsaker; and Lars Kufall Beck, Group CFO, as of the beginning of April.
The call will include a short presentation by Morten and Lars followed by Q&A.
A recording of the call will later be available at sampo.com.
With that, I hand over to Morten.
Thanks, Mirko and warmly welcome from my side as well.
Sampo delivered another strong year in 2025, marked by consistent execution, robust profitability, and solid momentum across our private and SME segments. We achieved like-for-like growth of 8%. Combined with disciplined underwriting, a benign claims environment, and continued efficiency
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