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Sampo: The King of the Nordic P&C insurance market

SAMPOExtensive research2023-06-14 07:07
Sauli Vilén, Kasper Mellas
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Sampo operates mainly in the very lucrative Nordic P&C insurance market with high-quality business operations. The company currently performs excellently, and we expect stable earnings growth and a strong dividend stream for the upcoming years. The share’s valuation is in line with the valuation methods we use.

Sampo is the leading property and casualty insurance group in the Nordic region and a major operator in the growing digital P&C insurance market in the UK. Sampo Group has around 9 million customers, and it employs 15,000 people.  The Group’s insurance revenue totalled EUR 9.1 billion in 2025 of which the Nordic market represented 75 per cent. The Group’s operations are diversified by geography, line of business, and customer group. Sampo Group operates in Sweden, Norway, Finland, Denmark, the UK, and the Baltic countries. Its largest customer groups are private customers in the Nordics and in the UK, representing in total over 65 per cent of the Group's insurance revenue. The Group is also a leading provider of P&C insurance in Nordic commercial and industrial businesses.

Read more on company page

Key Estimate Figures2023-06-14

202223e24e
Revenue8,267.08,219.08,707.6
growth-%-15.2 %-0.6 %5.9 %
EBIT (adj.)1,786.01,476.21,600.3
EBIT-% (adj.)21.6 %18.0 %18.4 %
EPS (adj.)0.680.440.49
Dividend0.470.440.45
Dividend %5.3 %4.9 %5.1 %
P/E (adj.)13.120.218.0
EV/EBITDA13.517.215.5

Forum discussions

Pyysing has been writing about Sampo this time Sampo and other insurance stock shares in the Nordic countries also took a hit late in the week...
yesterday
by Sijoittaja-alokas
32
As I have said so many times, we are here for you after all! Antti and I regularly exchange thoughts on Sampo, and we have shared very similar...
yesterday
by Sauli Vilen
47
Thanks for taking the trouble, Sauli, to comment on the matter on the forum for the second time, even on a weekend! For comparison, I will quote...
yesterday
by Ju-ha-ni
46
During my 15-year tracking history, Sampo’s share has been drastically mispriced twice. In 2011-2012 (the aftermath of the financial crisis ...
yesterday
by Sauli Vilen
131
Sampo is the kind of stock that is always worth buying on the dips. I also believe Sampo is normally ”fairly” priced, but in dips like lemonade...
9/26/2026, 2:15 PM
by Ränta på ränta
50
[quote="Hassuttelija, post:7368, topic:692"] Well, Sampo at least scooped up a hefty amount from this sale itself, and they surely know their...
9/26/2026, 12:04 PM
by kimsku
34
Why didn’t all the big funds snap this up immediately, and why hasn’t the stock price already risen instead of still being available at a discount...
9/26/2026, 10:07 AM
by Hassuttelija
44