Sampo Group's 2024 Results: A Year of Growth and Operational Excellence

As we approach the publication of Sampo Group's 2024 results on 6 February 2025, investors and analysts are eagerly awaiting the company's performance. Sampo Group, the largest P&C insurer in the Nordic region, has consistently demonstrated a strong track record of growth and operational excellence. In this article, we will delve into the key financial indicators, business areas, and underwriting discipline that have contributed to Sampo Group's success in 2024.

Throughout 2024, Sampo Group has shown positive trends in its key financial indicators. Operating EPS growth of 4% was driven by strong top line growth and robust underwriting performance in the UK. The group combined ratio improved by 0.5%, reflecting the company's underwriting discipline and technical excellence. The solvency ratio remained strong at 177%, and financial leverage increased slightly to 26.8%.



Sampo Group's top line growth in 2024 was driven by strong development in all business areas, with the UK business being a significant contributor. Gross written premiums in the UK grew by 28% on a constant currency basis, fueled by pricing actions taken in the latter half of 2023 and an 11% increase in customer policies year-on-year. The Nordics also performed well, with high retention rates and strong growth in online sales, property, and personal insurance.

Sampo Group's underwriting discipline and technical excellence have been reflected in its underwriting results and combined ratios, both at the group level and within its individual business areas. The group's underlying combined ratio improved by 1.5 percentage points in the first half of 2024, driven by positive development across the Nordics and the UK. Individual business areas, such as If P&C and Hastings, also demonstrated strong underwriting performance and improved combined ratios.

As we look ahead to Sampo Group's 2024 results, investors can expect a year of growth and operational excellence, driven by the company's strong business areas, underwriting discipline, and technical excellence. With a focus on organic growth, disciplined capital management, and strategic acquisitions, Sampo Group is well-positioned to continue its track record of success in the coming years.