Mandatum Life, a part of Sampo Group, is one of the most financially solid and respected life insurance companies in the Nordic region. We provide our customers with a variety of services, including wealth management, investments, savings, and personal risk insurance, as well as incentive and reward solutions for companies.
We play our part in building a better society by providing our clients with saving and investment solutions that meet their needs throughout their lives. What is more, we protect our clients against personal risk in the best way possible. Innovation combined with decades of experience guarantee our ability to offer solutions that help you lead the life you want – both now and after retirement.
Sampo plc owns the entire stock of Mandatum Life Insurance Company Limited. 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.
Nearly 250,000 private clients and nearly 25,000 companies and organisations trust Mandatum Life to provide them with the best expertise available in insurance and investment solutions.
Values and vision
The vision of Mandatum Life:
Mandatum Life is a company that aims to offer investment, wealth management and insurance solutions for people and companies operating in Finland and in the Baltic region.
Mandatum Life has six values:
- Benefit the client
- By far the most active
- Direct 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 respected in Mandatum Life. Sampo Group shares the values of ethical behaviour, loyalty, openness and entrepreneurship. Sampo pursues these values in all its activities and in relation to all stakeholders. Sampo’s stakeholders include shareholders, clients, employees, the media, public authorities and partners.
History
Mandatum Life, formerly known as Sampo Life, was established in 1997 as a part of which was then P&C insurance group Sampo. Mandatum Life insurance business dates back to 1874 when Kaleva, Finland’s oldest life insurance company, was established.
Mandatum Life expanded its life insurance activities outside Finland in 1999 by establishing AS Sampo Elukindlustus in Estonia, and by acquiring a Latvian life insurance company (AAS Sampo Dziviba) established by Hansapank a year before. In Lithuania, the life insurance business (UAB Sampo Gyvybes Draudimas) started in 2001 . In order to increase the efficiency of Baltic operations, all 3 Baltic life insurance companies were merged in 2007 through establishing the first European company (Societas Europaea ) in Scandinavian financial sector.
A significant strategic change took place in Mandatum Life in 2002 when it decided to focus on unit-linked insurance products instead of with-profits pension and investment insurance policies. In just a few years, company gained a substantial share of the unit-linked insurance market as customers became aware of the benefits of unit-linked insurance solutions.