Sampo Group's results for January-March 2026
Continued solid top-line growth in private and SME lines in the Nordics, partly offset by muted development in larger corporate business lines and in the UK.
The underwriting result strengthened by 9 per cent on a currency adjusted basis to EUR 368 million, and the combined ratio stood strong at 84.4 per cent.
Robust operating EPS performance, while the reported EPS was burdened by volatile market value movements amid geopolitical uncertainty.
Following the strong first quarter performance, the outlook for the 2026 underwriting result has been raised to EUR 1,525-1,625 million from EUR 1,485-1,600 million.
Sampo will launch a new EUR 350 million share buyback programme based on the 2025 operating result and the sale of NOBA shares in February 2026.
Solvency II coverage remained robust at 174 per cent, net of distribution accrual and the new buyback programme, and financial leverage amounted to 23.7 per cent.
Estimated potential effect from the Danish court ruling on workers' compensation is expected to be covered with Sampo's existing reserves.
"The first quarter of 2026 provided a solid foundation for attractive value creation over the year and demonstrated the resilience of Sampo's unique profile as a well-diversified, leading P&C insurer in the region," says Morten Thorsrud, Sampo Group CEO.
Key figures
EURm
1-3/2026
1-3/2025
Change, %
Gross written premiums
3,752
3,701
1
Insurance revenue, net
2,363
2,188
8
Underwriting result
368
336
10
Net financial result
-276
101
—
Profit before taxes
28
377
-93
Net profit
-46
285
—
Operating result
347
297
17
Earnings per share (EUR)
-0.02
0.11
—
Operating EPS (EUR)
