Estonia, EU – Baltic States, Financial Services, Insurance

The enterprise reported that the main reason for the name change is the implementation of the strategy of the Finland-based parent company Mandatum Life Insurance Company Limited in the Baltic States; the new strategy will be targeted towards asset management.

The Baltic subsidiary has been focused on offering investment solutions through life insurance for the past couple of years already, but since July the joint business strategy in the entire Mandatum Life Group will be concentrated under the same brand name.

“We have offered the Mandatum Life brand investment solutions to individual and corporate customers in Estonia, Latvia and Lithuania since autumn 2008,” noted the CEO of the Baltic subsidiary Imre Madison.

He added that as the Mandatum Life asset management services were added to the list of services provided to the customers this March, it will be the next logical step to start using the parent company’s name as a commercial name and a brand name in the entire Baltic region.

The name change will not bring any changes to customers and co-operation partners who have concluded contracts with Sampo Life – all contracts will be valid on the basis of the former conditions.

Mandatum Life is a part of the Sampo Group – a big financial group operating in Northern Europe. Sampo Group is also one of the biggest shareholder of the Nordea banking group.