SAMPO

Finnish insurer Sampo raised its medium-term profit outlook on Wednesday after its underwriting result grew in the first nine months of the year, marking a strong first quarter for new Chief Executive Morten Thorsrud.

Finnish insurer Sampo announced a management overhaul on Wednesday as new Chief Executive Morten Thorsrud took the helm, a move that includes the resignation of its Chief Financial Officer.

Finnish insurer Sampo said Tuesday it will buy back about 316 million euros in nominal amount of its subordinated notes due in 2052 after completing a recent tender offer.

Finnish insurer Sampo announced plans on Monday to buy back up to 300 million euros of its existing subordinated debt and issue new capital notes, as it continues to reshape its balance sheet following a strategic shift to focus on property-and-casualty insurance.

Finnish insurer Sampo said Wednesday it has applied to extend its internal risk-assessment model to include its newly merged Danish insurer Topdanmark, a move it estimates could free up capital.

Finnish insurer Sampo said Wednesday it has appointed Morten Thorsrud as its new group chief executive, succeeding Torbjörn Magnusson, who will retire.