The focus of Sampo Group’s corporate responsibility work is on the subsidiary level. This is where the customers are met and where 99 per cent of the personnel work.
The operations of Sampo Group’s insurance subsidiaries If P&C Insurance and Mandatum Life differ significantly from each other and, therefore, the nature of their corporate responsibility activities also differs to a great extent. The subsidiaries have their own models of corporate responsibility reporting reflecting the special features of their businesses. On a Group level Sampo continued to develop the Group level non-financial reporting while waiting for the authorities’ decision on reporting requirements.
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 2015 published in March 2016 available at www.sampo.com/environmentalreport.
Mandatum Life’s corporate responsibility is based on the cornerstones of its business operations: increasing and securing the financial welfare of its customers and safeguarding against financial risks. The success of its business operations is a central part of Mandatum Life’s corporate responsibility, as it helps make life better and easier for its customers and employees.
During 2015, Mandatum Life’s corporate responsibility work mainly focused on fostering responsible investment practices. In responsible investing, the major role of investors in solving environmental challenges, such as global warming, was a key theme.
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. More information on risk management in Sampo Group is available in the Risk Management Section of this Annual Report.