The board of Finnish insurer Sampo on Wednesday proposed spinning off life insurance subsidiary Mandatum, the group said in a statement.

Finnish insurer Sampo has agreed to buy Topdanmark in an all-share deal that values the Danish rival at 33 billion crowns ($4.73 billion), the two companies said on Monday.

Sampo Group is a Finnish insurer which is very well-positioned in its core markets (the Nordic region). Every year the company increases its dividend, bringing good fortune to its shareholders.

Sampo has received all regulatory and antitrust approvals needed for its acquisition of British motor insurer Hastings, the Finnish financial group said on Tuesday.

Finnish insurer Sampo said on Wednesday it would list its shares in Stockholm on top of its trading in Helsinki to attract more investors, and reported a quarterly profit drop.

Finnish finance company Sampo is a partially state-owned finance company active in the financial markets.

STOCKHOLM -- Finland's Sampo PLC on Monday abandoned its offer to buy Storebrand ASA, citing the Norwegian insurer's weakening results, declines in financial markets and the protracted offer process.