Banks, Estonia, EU – Baltic States, Financial Services, Insurance

Last Sunday the British newspaper The Sunday Times ran a story, according to which Sampo was in negotiations with the Anglo Irish Bank over purchasing the crisis-hit Quinn Insurance.

Sampo does not usually comment on rumours, but in this case the company made an exception, informs LETA.

"We are not currently in talks in Ireland", Stadigh said.

The well-established Sampo is known to have the ways and means for quick purchases, so there are plenty of offers, the Group CEO pointed out to the London analysts.

"We are usually shown everything that is on offer and we look at everything. If we did anything in Ireland it would have to be something very exceptional", Stadigh continued.

Instead, Stadigh hinted that Sampo might be interested in selling its life insurance arm Mandatum Life, once the international finance giants start taking interest in the Nordic region.

"Everything is for sale. We are not in the business of building an empire. Anything can go if it is in the interest of the stockholders", Stadigh said.

Despite the market fluctuation, Sampo still considers stocks the most interesting investment.

In London Stadigh shed light on the company's investment philosophy, which at least at the moment works on the principle of elimination.

"We do not like cash and we do not wish to increase the amount of business loans, nor are we keen on government bonds. So all that remains are stocks. So this is the only reason why we prefer stocks right now", Stadigh explained.

Stadigh believed that many other large investors would soon arrive at the same conclusion, once they get tired of the low interest yield.

Stadigh emphasised, however, that Sampo would not take great risks with its stock purchasing.

"We will not venture into gambling," Stadigh said.

According to Stadigh, Sampo is not planning any major moves. At the moment Sampo owns just over 20% of the Nordic financial services group Nordea. The company does not have plans to swell its holding in the bank beyond 25%.

According to Stadigh, a 22-23% stake in Nordea is suitable.