Sampo Oyj · OMXHEX:SAMPO
Sampo Oyj — Investor Day (August 2025)
50 slides from Sampo Oyj's investor day presentation, Aug 28, 2025
Slide 1: Sampo Analyst Day
Sampo Analyst Day 28 August 2025 Helsinki, Finland
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements that reflect management’s current views with respect to certain future events and potential financial performance. Although Sampo believes that the expectations reflected in such forward looking statements are reasonable, no assuran
Slide 3: Agenda
Agenda 14:00 Opening remarks, Torbjörn Magnusson, Sampo 14:15 Digital If – A peek into the engine room, Tiina Voipio, If P&C 14:45 Roadmap to the Topdanmark synergies, Ingrid Janbu Holthe & Kjell Rune Tveita, If P&C 15:15 Q&A session: Tiina Voipio, Ingrid Janbu Holthe & Kjell Rune Tveita 15:30 Coffe
Slide 4: Opening remarks
Opening remarks Torbjörn Magnusson Group CEO, Sampo 28 August 2025 4
Slide 5: Sampo Analyst Day – Focus on digitalisation, synergies and investments
Sampo Analyst Day – Focus on digitalisation, synergies and investments Digital leader with investments over Attractive synergies from Topdanmark Investment portfolio designed for stable and EUR 200 million p.a. in IT development integration emerging as planned predictable income to complement the UW
Slide 6: Speakers
SAMPO = GROUP Speakers Tiina Voipio Head of Digital Sales and Customer Experience If P&C Ingrid Janbu Holthe Head of Private If P&C Kjell Rune Tveita Head of IT and Group Services If P&C Ville Talasmaki Group ClO Sampo Kai Sotamaa Group CRO Sampo 28 August 2025
Slide 7: Digital If – A peek into the engine room
Digital If – A peek into the engine room Tiina Voipio Head of Digital Sales and Customer Experience, If P&C 28 August 2025 7
Slide 8: Scaling our investments in digital capabilities across 8 million customers
Scaling our investments in digital capabilities across 8 million customers The leading P&C franchise across the Nordics & UK UK and Nordic P&C premiums (EURbn) 9.5 Private Nordic Private UK Corporate 8.5 ~ 8 million >€200 million pa Investment in digital 6.1 Customers development 5.2 3.3 1.3 Integra
Slide 9: A key element in our operating model is a strong tech organisation working cross-Nordic
A key element in our operating model is a strong tech organisation working cross-Nordic and also leveraging competences from Baltics Strong Technology competency Cross-Nordic organisation Cost-efficient Baltic IT hub ~1,400 ~400 business Baltics IT employees professionals ~400 Baltic IT employees Fi
Slide 10: We have leveraged our technology and P&C insurance know-how to create a digital customer engine
We have leveraged our technology and P&C insurance know-how to create a digital customer engine High digital adoption across the value chain Sales Online Digital customer engine Omni-channel customer interface 56 % 1 2 3 4 Phone Service Attractive Cross- Customer Claims and selling service fulfilmen
Slide 11: Sales growth through improved conversion from simplified journeys
Sales growth through improved conversion from simplified journeys Case example: Car insurance purchasing in Finland 5 million Product info & quote Middle step Checkout Yearly price quotes in the Nordics Digital customer engine 1 2 3 4 Nordic scale 100+ tests yearly, test in one market and roll out t
Slide 12: Sales growth through embedded insurance in partner ecosystems
Sales growth through embedded insurance in partner ecosystems Case example: Home insurance partner integration in Norway Improved reach Right target segments efficiently Firstname Lastname firstname.lastname@email.com Digital customer engine Old home street, City New home street, City > 70 partners
Slide 13: Sales growth through proactive cross-selling to existing customers
Sales growth through proactive cross-selling to existing customers Case example: Accident insurance proactive sales in Sweden 15 million Logged-in visits annually Digital customer engine >40 1 2 3 4 Proactive digital purchase recommendations live • Personalised recommendation and offering of acciden
Slide 14: Digital self-service is preferred by the majority of our customers
Digital self-service is preferred by the majority of our customers Leading self-service offering in the market 45 million Annual visits to information and services in if.xx Digital customer engine 15 million 1 2 3 4 Logged-in visits annually If awarded 2/3 of customers use >10m€ savings realised for
Slide 15: Digital claims offers efficiency and improved customer service
Digital claims offers efficiency and improved customer service High levels of digital claims intake and claims automation 7 million Share of digitally reported claims Same goes for share of fully Digital customer continues to rise* automated (Straight Through logins in claims processed) claims 63% r
Slide 16: Digital investments enhance performance in traditional channels
Digital investments enhance performance in traditional channels Increasing volume of online visits Strong telemarketing operations Omnichannel benefits in growth Premiums, If Private excl. Topdanmark H1/2024 H1/2025 +17% +39% One-in-four outbound telemarketing lead originate from digital customer in
Slide 17: The digital customer engine is driving higher sales and efficiency
The digital customer engine is driving higher sales and efficiency On track to hit our ambition of more The direct digital channel is constantly Customer service model efficiency than EUR 175 mn of digital sales in 2026 increasing in importance continuously improving Digital sales premium, EURm* Dig
Slide 18: AI will take our digital customer engine to the next level
AI will take our digital customer engine to the next level Case Claims fraud detection process Case IfGPT virtual assistant operations AI Tools New AI model to predict the Newest AI driven chatbot • Empowering employees to work "Watson" fraud risk for each claim for "IfGPT" combining AI and service
Slide 19: Our digital leadership is realised through unique scale benefits
Our digital leadership is realised through unique scale benefits Pan-Nordic Wide customer Business technology understanding scalability Agile operating model and way of working with cross functional Nordic-Baltic teams 28 August 2025 19
Slide 20: We see a large opportunity in exporting our digital skills to Denmark
We see a large opportunity in exporting our digital skills to Denmark Digital adoption rates in Denmark are lower than in Clear opportunities in expanding the digital customer other Nordic countries, particularly on sales engine to Denmark 87% • More products. All products cannot be purchased 82% on
Slide 21: Roadmap to the Topdanmark synergies
Roadmap to the Topdanmark synergies Ingrid Janbu Holthe, Head of Private Nordic, If P&C Kjell Rune Tveita, Head of IT and Services, If P&C 28 August 2025 21
Slide 22: Combining two great companies with complementary capabilities to create a leading Danish P&C insurer
Combining two great companies with complementary capabilities to create a leading Danish P&C insurer Complementary businesses with synergy potential ✓ Strengthen local presence with increase in Danish market share to 20% 26% segments1 Customer 51% 49% ✓ 48% Accelerate digitalisation of Topdanmark an
Slide 23: Integrating Topdanmark into If's operating model paves the way towards delivering EUR 140 m in synergies
Integrating Topdanmark into If's operating model paves the way towards delivering EUR 140 m in synergies Total operational synergies Revenue EUR 140 m p.a* 30 Claims Cost 25 IT costs 41 44 Other costs • Direct IT synergies • Procurement • Higher volumes • Indirect IT synergies • Best practice • Enha
Slide 24: We see a large potential in reduction of direct IT costs
Cost Claims Revenue We see a large potential in reduction of direct IT costs IT synergy categories IT synergy category examples Multi-core portfolio Private: Legacy If to Guidewire (Topdanmark) IT run-rate synergies (2028) A optimisation Commercial: Legacy Topdanmark to Waypoint (If) EURm Common dev
Slide 25: Multi-core portfolio optimisation is a key synergy driver
Cost Claims Revenue A Multi-core portfolio optimisation is a key synergy driver through consolidating and sunsetting core systems IT synergy category deep dive: Multi-core portfolio optimisation Cost benefit from consolidation Gradual consolidation of the core system landscape and sunsetting of syst
Slide 26: By consolidating our infrastructure & operations further synergies are realised
Cost Claims Revenue B By consolidating our infrastructure & operations further synergies are realised IT synergy category deep dive: Common infrastructure & managed services Cost benefit from platform and Consolidation of platforms operations consolidation Consolidate, simplify and standardise IT sy
Slide 27: Joining our different customer ecosystems in Denmark is essential in realising synergies
Cost Claims Revenue Joining our different customer ecosystems in Denmark is essential in realising synergies Separate customer ecosystems One common customer ecosystem Truly common operations with one operating model ✓ Duplicate processes eliminated ✓ Operations optimised one customer & business cen
Slide 28: Other cost synergies related to consolidation of IT landscape and integration into the Nordic operating model
Cost Claims Revenue Other cost synergies related to consolidation of IT landscape and integration into the Nordic operating model Cost synergies in corporate centre and Cost synergies in business areas central units Cost synergies 15 EURm 29 EURm Linked to operating model Linked to integrating into
Slide 29: Private – Bringing the best of both companies into one landscape enables efficiencies
Cost Claims Revenue Case examples Private – Bringing the best of both companies into one landscape enables efficiencies in several areas -5% service cost* Phone Scale Phone service cost in Denmark expected to Cost synergies economics decrease due to larger scale of operations 2024 2028 -21% Inbound
Slide 30: Case example corporate centre and central units – Material scale benefits
Cost Claims Revenue Case example corporate centre and central units – Material scale benefits from a move to a common Nordic operating model Move to Nordic operational model enables removal of Cost synergies overlapping operational functions Corporate structure and management layers streamlined 140
Slide 31: Claims synergies – potential by leveraging scale, best practice, integration of functions and more
Cost Claims Revenue Claims synergies – potential by leveraging scale, best practice, integration of functions and more Case example: Synergy possibilities in Areas of opportunity claims handling Claims handled per FTE Claims synergies Increased scale Knowledge/best practise sharing +12% Shared moder
Slide 32: Concrete examples in claims
Cost Claims Revenue Concrete examples in claims Anti-fraud: Substantial potential from best practice sharing Case example: Procurement savings motor Relative difference between Topdanmark and If Denmark in fraud detection rates on different claims categories ✓ Improved contract terms ✓ Using used sp
Slide 33: Large potential for revenue synergies in multiple areas
Cost Claims Revenue Large potential for revenue synergies in multiple areas Closing the retention gap in Private Revenue synergies Topdanmark > 5% pts higher retention vs If Denmark Revenue, Augmented pricing capabilities New partnerships in 30 Talent, data & tools mobility and other areas Superior
Slide 34: Scale, claims steering, and sharing best practices gives potential in mobility in Denmark
Cost Claims Revenue Scale, claims steering, and sharing best practices gives potential in mobility in Denmark Opportunities in Mobility with our new scale New partnerships with modern EV manufacturers Private passenger car market shares in Denmark Q2 2025 Polestar and Zeekr 20% 20% 5 Ongoing dialogu
Slide 35: Integrating Topdanmark into our Nordic operating model with digital at the core
Cost Claims Revenue Integrating Topdanmark into our Nordic operating model with digital at the core will enable us to drive scale benefit and attractive synergies EURm 140 p.a* 30 85 25 41 44 ✓ Scalable and efficient Nordic operating model Cost Claims Revenue Total ✓ Digital frontrunner ✓ Customer c
Slide 36: Q&A 28 August 2025
SAMPO “S GROUP 28 August 2025
Slide 37: Leveraging Sampo's investment portfolio to support P&C value creation
Leveraging Sampo’s investment portfolio to support P&C value creation Ville Talasmäki, Group Chief Investment Officer, Sampo Kai Sotamaa, Group Chief Risk Officer, Sampo 28 August 2025 37
Slide 38: Leveraging Sampo's investments to support P&C value creation
Leveraging Sampo’s investments to support P&C value creation Focus on Sampo’s strategic focus is on growing the underwriting result, which represents the EUR 17 billion underwriting majority of profits and an even greater share of shareholder value creation Investment assets under Sampo’s management
Slide 39: Sampo's investment portfolio is positioned to cover uncertainty in the group's long-term P&C insurance liabilities
Sampo’s investment portfolio is positioned to cover uncertainty in the group’s long-term P&C insurance liabilities Around one-quarter of Sampo’s insurance liabilities Equities provide better protection against high are expected to be paid out in more than 10 years inflation than long dated bonds Sam
Slide 40: Sampo's market risk exposures are comfortably manageable
Sampo’s market risk exposures are comfortably manageable Limited solvency sensitivities to Net exposure to changes in interest Sampo is focused on ensuring that investment risk exposure investment risk rates is minimal does not create unecessary volatility Solvency II ratio effect of market P&L effe
Slide 41: Sampo's investment allocation represents an effective use of capital
Sampo’s investment allocation represents an effective use of capital The benefit of shifting to a pure interest rate portfolio is limited relative to the earnings uplift currently achieved Market risk represents around half of Sampo’s SCR but much Sampo Group SCR (EURbn) of this is FX-risk related t
Slide 42: Long-term investment strategy built on investment heritage
Long-term investment strategy built on investment heritage Long-term investment horizon Defensive with risk-return focus ✓ Filtering short-term market noise, looking past temporary issues and ✓ Focus on traditional assets classes with good liquidity and focusing on generating strong long-term result
Slide 43: Balanced asset allocation with risk asset allocation broadly in-line with Nordic peers
Balanced asset allocation with risk asset allocation broadly in-line with Nordic peers and well below European P&C average Sampo asset allocation (June 2025) Risk asset allocation1) relative to P&C peers Key takeaways Index-Linked Bonds 19% Alternatives 3% Defensive investment strategy with an 88% f
Slide 44: Fixed income strategy focused on picking credit and illiquidity premium
Fixed income strategy focused on picking credit and illiquidity premium whilst minimising downgrades and defaults Fixed income investment strategy Credit investment strategy • The portfolio is defensively positioned, mainly in covered bonds, government bonds, and high-quality • Majority of credit po
Slide 45: Sampo earns a premium above a de-risked alternative with locked-in coupons
Sampo earns a premium above a de-risked alternative with locked-in coupons creating stability in earnings … while the current environment continues to offer opportunities to Attractive return pickup over hypothetical de-risked alternative... lengthen duration at attractive all-in yields If P&C mark-
Slide 46: Significant return contribution from a modest equity allocation
Significant return contribution from a modest equity allocation If P&C equity allocation and investment return contribution Total return index 2009 – H1/2025 (2009 = 100) 1,200 If P&C Equity If P&C Fixed income If P&C Scandi Equity1) If P&C Total Equity2) MSCI Nordic 3) STOXX 600 4) 100.0% 100.0% 1,
Slide 47: Macro pressure and stretched valuations constrain return outlook
Macro pressure and stretched valuations constrain return outlook Fixed income all-in yields • Interest rates remain elevated compared to pre-Covid levels following the 2021-2022 spike in inflation with currently planned European fiscal spending supporting higher interest rates while downside risks t
Slide 48: Long-term investment strategy with excellent track record
Long-term investment strategy with excellent track record Liability focus Conservative strategy Excellent track record Excellent investment track record Conservative investment strategy The primary purpose of Sampo and a demonstrated ability to and style that reflect the long-term Group's investment
Slide 49: Q&A 28 August 2025
SAMPO “S GROUP 28 August 2025
Slide 50: Thank you!
SAMPO “S GROUP Thank you! 28 August 2025