Finland's Sampo plans to spin off life insurer Mandatum
HELSINKI, March 29 (Reuters) - The board of Finnish insurer Sampo (SAMPO.HE) on Wednesday proposed spinning off life insurance subsidiary Mandatum, the group said in a statement.
Sampo last year said it considered listing Mandatum separately as it would be a logical step in Sampo's strategy to focus on property and casualty insurance.
"The division would create a leading Nordic, purely non-life insurance group capable of delivering high and stable returns on capital," Sampo Chair Bjorn Wahlroos said in the statement.
Our Standards: The Thomson Reuters Trust Principles.