Finnish insurer Sampo offers $4.7 billion for Denmark's Topdanmark

FILE PHOTO: Sampo Group logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

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

Based on Friday's closing share prices, the offer represents a 27% premium per share for the owners of property and casualty (P&C) insurer Topdanmark, they said in a joint statement.

"By combining the businesses in a fully integrated Nordic operating platform, we can unlock growth and attractive synergies that will strengthen our position as a leading Danish P&C insurer," Sampo CEO Torbjorn Magnusson said.

($1 = 6.9694 Danish crowns)

(Reporting by Terje Solsvik, editing by Anna Ringstrom)