Mandatum Life is one of Finland's most respected and solvent financial services providers and part of the successful Sampo Group. We provide our customers with a variety of services, including wealth management, investments, savings, personal risk insurance as well as incentive and reward solutions. We implement our services through various insurance contracts.
The entire stock of Mandatum Life Insurance Company Limited is owned by Sampo plc. Mandatum Life Group owns Mandatum Life Insurance Baltic SE, which operates in the Baltic countries and has its registered office in Estonia. In Latvia and Lithuania, the company operates through branch offices. Mandatum Life's subsidiary Innova Services Ltd. also operates in Finland.
Mandatum Life has an estimated 250,000 private and 25,000 corporate customers.
Mandatum Life's vision is to be the most respected manager of customer assets and provider of protection from financial risks in Finland.
Mandatum Life's strategy is to bring its customers financial security by combining innovative wealth management and life insurance.
- Benefit the client
- By far the most active
- Straight talk
- As one team
- Dares to be different
- We want to win
As Mandatum Life is part of Sampo Group, the Group's values are also observed in Mandatum Life. Sampo Group shares the values of ethicality, loyalty, transparency and enterprise.
Sampo pursues these values in all its activities and in relation to all stakeholders. Sampo's stakeholders include shareholders, customers, employees, the media, public authorities and partners.
Mandatum Life complies with good governance based on legislation governing the insurance industry and regulations and guidelines issued by the Finnish Financial Supervisory Authority. As Mandatum Life is a part of Sampo plc, we comply with the recommendations concerning the corporate governance of Finnish listed companies.
Mandatum Life follows the risk management principles defined by the Sampo Group where the characteristics of a life insurance company have been taken into account. Similar principles are also used in Mandatum Life Insurance Baltic SE.
Mandatum Life's Internal Audit is carried out independently of the company's business operations. Its mandate is to objectively assess and ensure the organisation's activities. The objective of the Internal Audit is to bring added value to the organisation and to improve its activities. Mandatum Life's Board of Directors annually approves the company's Internal Audit action plan.
Mandatum Life's Internal Audit is part of the Sampo Group's Internal Audit. The Group's Internal Audit is overseen by the Chief Audit Executive (CAE), who reports to the Group's CEO and Executive Committee and to the Board's Audit Committee.
Petri Niemisvirta, CEO
Risto Honkanen, Danske Bank and Strategic Alliances
Jukka Kurki, CFO
Timo Laitinen, Business Support Services
Juhani Lehtonen, Investment Management
Jukka Pirskanen, Wealth Management
Sanna Rajaniemi, Client Service, Baltics
Tarja Tyni, Corporate Clients
Petri Vieraankivi, Business Development
In addition our Management Team includes
Anna Berglind, Vice President, Human Resources
Jani Mikkola, CEO, Innova Services Ltd.
Niina Riihelä, Vice President, Marketing and Communications
Jari Sarelahti, Vice President, IT
Janne Sorainen, Vice President, Actuarial
Timo Vuokila, Vice President, Legal Affairs
Mandatum Life's Board of Directors
Kari Stadigh, Chairman since 2001, Group CEO, Sampo plc
Peter Johansson, board member since 2003, Vice Chairman since 2007, Group CFO, Sampo plc
Patrick Lapveteläinen, member since 2002, CIO, Sampo plc
Jorma Leinonen, member since 2001, M.Sc., FASF
Jarmo Salonen, member since 2007, Head of Investor Relations and Group Communications, Sampo plc
Sampo Group owns Mandatum Life Insurance Company Limited. Sampo Group is a listed company on NASDAQ OMX Helsinki Ltd.
All financial information for investors about Mandatum Life is available on Sampo Group's website.
Key figures 2015
Key figures Q3/2016
The Parent Company Sampo plc
The Parent Company Sampo plc
Mandatum Life Insurance Company Limited is wholly owned by the listed company Sampo plc. Sampo plc was formed in 2000 when the insurance company Sampo plc and Leonia Ltd (formerly the bank Postipankki) merged to become Sampo-Leonia. In 2007 Sampo plc sold the Sampo Bank Group to Danske Bank A/S.
Sampo's business areas are P&C and life insurance. The Chairman of the Group's Board of Directors is Björn Wahlroos. Kari Stadigh has been Group CEO since 8 April 2009. Mandatum Life's Managing Director, Petri Niemisvirta, is a member of Sampo plc's Executive Committee.
The European company Mandatum Life Insurance Baltic SE is a subsidiary of the Mandatum Life Group. The company is domiciled in Estonia and has branch offices in Latvia and Lithuania.
Sampo expanded its life insurance operations beyond the borders of Finland in 1999 with the establishment of AS Sampo Elukindlustus in Estonia and by acquiring the Latvian life insurance company AAS Sampo Dziviba, which had been established by Hansabank in the previous year.
In 2001, Sampo started up life insurance operations in Lithuania under the name UAB Sampo Gyvybes Draudimas with, as in Estonia and Latvia, the support of a P&C insurance company. In 2004, Sampo Life acquired 100 per cent of Sampo Plc's shares in the Baltic companies. Mandatum Life has steered the operations of the companies almost since the beginning.
Innova Services Ltd., a subsidiary of the Mandatum Life Group, provides reward consulting services and personnel fund management services to companies and organisations as well as pension services to both companies and pension funds.
Innova assists its customers in discovering a method of rewarding that best suits their strategy and objectives. Innova Personnel Fund Services is the only company in Finland to offer comprehensive management services for personnel funds. These services include consultation related to setting up a fund, maintaining a membership database, share payments, accounting, member advisory services and meeting, secretarial and advisory services for fund managers.
Innova Pension Services offers companies expert assistance in arranging pension cover and in reporting pension expenses. The experts at Innova compare the various pension options available and find the most suitable one for each company. They can also help set up pension funds and provide all the services these require.
Mandatum Life acquired Silta Oy's pension and personnel fund operations in 2011.
Mandatum Life serves its customers through If P&C Insurance Company and Danske Bank (formerly Sampo Bank), in addition to the company's own customer service and online service.
Mandatum Life cooperates closely with Kaleva. The sister company If continues to sell Kaleva's group life and accident insurance policies to members of trade organisations that have entered into a cooperation agreement.
Mandatum Life also cooperates with Varma Mutual Pension Insurance Company.
Among global companies, Mandatum Life co-operates with BlackRock, the world's largest asset management firm. iShares, which is part of BlackRock, is the market leader in exchange traded funds (ETFs). This co-operation enables Mandatum Life to offer its clients a pioneering way to invest in iShares listed index funds.
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Mandatum Life's corporate responsibility is based on the cornerstones of its operations: increasing and securing the financial welfare of its customers and safeguarding against risks.
More about our corporate responsibility can be found in Mandatum Life's Annual Report.
Mandatum Life, formerly Sampo Life, was founded in 1996 as part of what was at the time the P&C insurance group Sampo. Sampo’s life insurance business dates back to 1874, when Finland’s oldest life insurance company, Kaleva, was founded.
At the start of 1997, Kaleva’s pension insurance business was transferred to the newly established Sampo Life Insurance Company Limited. Sampo Life quickly became the market leader when Life Insurance Company Nova merged with Sampo Life at the start of 1999. Nova had been established in 1987 and was a forerunner in individual pension insurance and supplementary pensions in Finland. In co-operation with the pension insurance company Pension-Varma, Nova offered companies especially quality group pension insurance.
Sampo Insurance Group and Leonia Bank merged to form the Sampo–Leonia Financial Group in December 2000. At the same time, Leonia Life Insurance, established in 1995, merged with Sampo Life. Mandatum Bank was merged into the Sampo-Leonia Group in February 2001, and Björn Wahlroos became Group CEO. The Group’s name was changed to Sampo plc.
Sampo Life underwent a significant strategic change in 2002, following the company’s decision to focus on unit-linked insurance products instead of with-profit pension and investment insurance policies. In just a few years, Sampo Life gained a substantial share of the market for unit-linked insurance as customers became aware of the benefits of such insurance solutions.
In 2007, Sampo plc sold the Sampo Bank Group to Danske Bank A/S.
On 26 August 2008, Sampo Life Insurance Company Limited changed its name to Mandatum Life Insurance Company Limited. The name change was part of a significant strategic transformation, reflecting the decision to establish wealth management insurance as a strong secondary foundation alongside traditional life insurance operations. The marketing name became Mandatum Life, and the new strategy was summed up with the slogan “Your money, your life”.
In 2011, Mandatum Life acquired Silta Oy’s pension and personnel fund operations, which began operations as Innova Personnel Fund and Pension Services Ltd. on the 1st of July, 2011. Innova is a subsidiary of Mandatum Life Insurance Company Limited. Innova's customers are personnel funds, companies and pension foundations and funds.
Petri Niemisvirta has been Mandatum Life’s Managing Director since 2001.
Kaleva still operates as a mutual insurance company in close co-operation with Sampo, although it is not part of the Sampo Group. In co-operation with If P&C Insurance Company Ltd., Kaleva specialises in providing life insurance to members of trade unions and employee organisations. The Managing Director of Kaleva Mutual Insurance Company is Timo Laitinen.
Mandatum Life sponsors cultural and sporting events according to decisions made on an annual basis, and also makes donations to charities
Mandatum Life may also sponsor education and training activities, and is involved in various fairs and seminars.
We process sponsorship applications every three months. Please send your sponsorship application to firstname.lastname@example.org
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