Sampo plc · Helsinki Finland ·(OMX Helsinki: SAMAS)
Company Description
View Sampo plc Locations On A US Map
This link will open in a new window
This link will open in a new window Unlike the magic pillar of Finnish lore for which it's named, Sampo can't pull treasure out of thin air. But it does what it can to help its clients. The holding company offers a variety of financial products, primarily in Finland, but also in Sweden, Norway, and Denmark and throughout the Baltic region, including Russia. It provides property/casualty coverage through subsidiary If P&C, which is one of the largest Nordic property/casualty insurers and the company's largest money maker. Sampo's Mandatum Life (formerly Sampo Life) subsidiary provides life insurance, pension, and other long-term products in Nordic countries and the Baltics. The company also owns about 12% of Nordea , the region's largest bank. To read the full description, subscribe now.
Call Now at 866-464-3202 or Click here for a Free Hoover's Trial!
Key Sampo plc Financials
| Company Type | Public - OMX Helsinki: SAMAS Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $6,518.9 |
| Employees | 54 |
Sampo plc Executives
19 executives listed for Sampo plc's Helsinki, location.
| Title | Name & Bio | Contact |
| Chairman | Björn Wahlroos | Network |
| Vice Chairman | Matti Vuoria | Network |
| President and CEO | Kari Stadigh | Network |
Competition
Competitive Landscape for Sampo plc
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top Sampo plc Competitors
Call Now at 866-464-3202 or Click here for a Free Hoover's Trial!