Sampo plc, inside information, 18 June 2025 at 9:20 am EEST

Inside information: Morten Thorsrud to succeed Torbjörn Magnusson as CEO of Sampo Group

Torbjörn Magnusson, the CEO of Sampo Group, has informed the Sampo Board of his intention to retire from his role. Morten Thorsrud, the CEO of Sampo’s largest operating entity, If P&C, has today been appointed as his successor. The change in Group CEO will become effective on 1 October 2025, after which Magnusson will stay within the group as a Senior Advisor until 31 December 2025.

“I want to thank Torbjörn for his extraordinary contribution to the success of Sampo, both in leading the recent strategic transformation as Group CEO and in laying the foundations of our outstanding success in the Nordic P&C insurance market. He leaves the group in excellent condition and with a compelling set of opportunities.

The appointment of If’s CEO Morten Thorsrud as Group CEO represents continuity and reflects our commitment to operational excellence. Morten, who has been within the group for 23 years, has taken If’s performance to new heights as CEO. I am delighted to have been able to appoint Torbjörn’s successor from a strong set of high-quality internal candidates”, says Antti Mäkinen, Chair of the Board of Sampo plc.

“With the strategic transformation of Sampo complete and the business in excellent shape, I have come to the conclusion that it is time for me to hand over to the next generation of leadership. Together with my colleagues, we have achieved more than I could have ever imagined when I joined the group in 1999. Morten has played a crucial role in the success of If P&C and I am confident he will excel as Group CEO of Sampo”, says Torbjörn Magnusson, CEO of Sampo Group.

“I am honored to be given the opportunity to lead Sampo. As CEO of If, I have continued our efforts on being the most caring and customer centric P&C insurer and on delivering operational excellence through extensive investments in our digital capabilities. I intend to bring the same energy to my work as CEO of Sampo Group”, says Morten Thorsrud, Appointed CEO of Sampo Group and CEO of If P&C

Further information about remuneration related matters can be found on www.sampo.com.

SAMPO PLC

For more information, please contact

Sami Taipalus
Head of Investor Relations
tel. +358 10 516 0030

Ainomaija Forsell
Media Relations
tel. +358 10 514 4217

Appendix:
Curriculum Vitae of Morten Thorsrud

Distribution:

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London Stock Exchange
FIN-FSA
The principal media
www.sampo.com

Appendix: Curriculum Vitae

Morten Thorsrud
Born 1971

Education

Norwegian School of Management
- Master of Business and Economics 1996

Career

If P&C Insurance Holding Ltd
- President and CEO 2019-

Sampo plc
- Member of the Sampo Group Executive Committee 2006-

If P&C Insurance Ltd (publ)
- Group Executive Vice President, Head of BA Private 2013-2019
- Head of BA Industrial 2005-2013
- Head of Industrial Underwriting and Claims 2004-2005
- Head of Corporate Strategy 2002-2004

McKinsey & Company, Inc. Norway/Europe
- Associate Partner 2001-2002
- Engagement Manager 1999-2001
- Associate 1997-1999
- Junior Associate 1996-1997

Positions of trust

Topdanmark
- Topdanmark Forsikring A/S: Deputy Chairman 2024–
- Topdanmark A/S: Board Member 2019-

Hastings Group
- Board Member 2020-

Euronext
- Member of the Supervisory Board 2019-

Finance Norway (Finans Norge)
- Member of the Executive Committee, 2019-
- Other roles, 2013-2019