Finland's Sampo plans to spin off life insurer Mandatum

Illustration shows Sampo Group logo
Sampo Group logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration

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.

Reporting by Essi Lehto, editing by Terje Solsvik

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