As a listed company, Sampo plc has the responsibility of acting in the best interests of its shareholders, in compliance with legislation and in accordance with sound business practices. Sampo Group's companies follow the common values of ethicality, loyalty, transparency and enterprise in their business operations and contacts with all stakeholders. Insurance is a business where responsibility and trust are inherent in daily customer contacts.
The focus of Sampo Group’s corporate responsibility work is on the subsidiary level, If P&C and Mandatum Life. This is where the customers are met and where 99 per cent of the personnel work. As the operations of Sampo Group’s insurance subsidiaries differ significantly from each other, the subsidiaries have taken care of corporate responsibility activities and corporate responsibility reporting. However, in anticipation of the changing reporting requirements, Sampo has embarked upon a project to develop Group level non-financial reporting.
If P&C endeavors to take its social responsibility beyond its business operations. Its principal objective is to constantly act in a manner that satisfies or exceeds the ethical, legal and commercial requirements placed upon the business.
All of If P&C's activities are governed by a strict environmental policy. The essence of this policy is that If P&C will always endeavor to find the most environmentally viable solution for If P&C, its clients, suppliers and partners. Further details on If P&C’s environmental activities can be read from The If Environmental Report 2014 published in March 2015 available at www.sampo.com/environmentalreport.
Mandatum Life’s aim is to improve financial security and ensure successful business operations of its clients. Corporate responsibility work supports Mandatum Life’s business strategy, according to which Mandatum Life creates financial security for its customers through an innovative combination of wealth management and insurance. At the heart of financial responsibility lies the sustainable and responsible management of customers’ insurance-related liabilities and customer investments.
Financial responsibility means ensuring the continuity, profitability, earnings power and solvency of operations in Sampo Group companies in all market situations. A further key component of financial responsibility is careful risk management. Further information on risk management in Sampo Group is available in the Risk Management section of this Annual Report.