Finnish insurance giant Sampo Oyj has announced the appointment of Morten Thorsrud as its next CEO, effective October 1. Thorsrud, who currently leads the company’s core If P&C Insurance division, will succeed Torbjörn Magnusson as part of a planned leadership transition aimed at ensuring continuity following a significant strategic overhaul.
The appointment was confirmed in a statement released Wednesday, with Sampo emphasising that Thorsrud was selected from a pool of internal candidates — a move underscoring the company’s commitment to stability and internal talent development.
Magnusson, who has been with Sampo for 25 years and has served as CEO since 2019, will continue to support the company as a senior adviser through the end of 2025.
The leadership change follows a multi-year repositioning strategy by Sampo, which has seen the group sharpen its focus on property and casualty (P&C) insurance. Recent steps in this transformation include the divestment of its stake in Nordea Bank Abp and the spin-off of Mandatum Oyj, its life insurance and asset management arm.
With more than two decades of experience within the Sampo Group, Thorsrud has played a central role in establishing If P&C as the leading general insurer across the Nordic and Baltic regions. The division now serves approximately four million customers and stands as the group’s most valuable business.
Thorsrud’s elevation to CEO is expected to ensure continuity in strategy and execution as Sampo consolidates its position as a premier non-life insurer in Northern Europe. His leadership will be closely watched as the group navigates an increasingly complex landscape shaped by digital transformation, climate-related risks, and evolving regulatory demands.
