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Sampo Group’s results for January-June 2023



SAMPO PLC                        HALF-YEAR FINANCIAL REPORT              9 August 2023 at 9:45 am

Sampo Group’s results for January-June 2023

• Strong premium growth of 9 per cent on a currency adjusted basis in January-June 2023 driven by rate increases and high retention; reported growth was 4 per cent

• Currency adjusted underwriting profit grew by 3 per cent despite the group combined ratio softening to 83.8 per cent (82.9) on high large and natural catastrophe claims experience

• Underlying Nordic margin trends remained strong, with If reporting a 0.4 percentage point improvement in the adjusted risk ratio excluding discounting effects

• Profit before taxes increased by 32 per cent to EUR 722 million after adjusting for IFRS 9 (546) but declined on a reported basis (1,515)

• The solvency ratio was stable at 212 per cent including dividend accrual and financial leverage stood at 26.9 per cent, net of announced capital returns

• The listing of Mandatum shares on Nasdaq Helsinki is on track to be completed on 2 October 2023

Key figures

EURm 1–6/
Change, % 4–6/
Change, %
Profit before taxes (P&C Operations) 722 1,515 -52 363 824 -56
  If 657 1,227 -46 320 732 -56
  Topdanmark 105 43 142 42 28 47
  Hastings 27 46 -42 17 25 -31
  Holding -60 203 -15 40
Net profit for the equity holders 575 1,658 -65 304 886 -66
Underwriting result 598 611 -2 306 369 -17
      Change     Change
Earnings per share (EUR) 1.13 3.08 -1.95 0.60 1.66 -1.06
Operational result per share (EUR) 1.07 0.56
Return on equity, % 10.1 6.5 3.6
Profit before taxes (adjusted for IFRS 9), EURm* 722 546 32% 363 269 35%

The comparison figures for 2022 have been restated for IFRS 17 but not for IFRS 9, meaning some figures, such as investment income, are not presented on a comparable basis between the reporting periods. Net profit for the equity holders, EPS and return on equity figures include results from life operations. Mandatum was classified as discontinued operations as of 31 March 2023.
*) To enhance comparability, a Group profit before taxes (P&C operations) figure adjusted for IFRS 9, reflecting market value movements, has been provided for the prior year.

The figures have not been audited.

Sampo Group key financial targets for 2021-2023

  Target 1-6/2023
Group Mid-single digit UW profit growth annually on average -2%
  Group combined ratio: below 86% 83.8%
  Solvency ratio: 170-190% 224% (212% including dividend accrual)
  Financial leverage: below 30% 26.7% (26.9% including remaining buybacks)
If Combined ratio: below 85% 82.7%
Hastings Operating ratio: below 88% 90.8%


The first half of 2023 has illustrated the outstanding quality of Sampo’s P&C insurance business as we delivered solid underwriting results despite elevated claims experience. Operational momentum remains strong across the Group, particularly as pricing in UK motor insurance market is rapidly hardening. First half profit before taxes increased by 32 per cent year-on-year to EUR 722 million, after allowing for the newly implemented IFRS 9 accounting framework in the comparison period.

Dynamics in the Nordic P&C insurance market remained attractive over the first half. If P&C achieved solid currency adjusted premium growth of 5.6 per cent in the second quarter, as well as an improvement in underlying margins. We have continued to price for claims inflation, which is stable at 4-5 per cent for the third consecutive quarter, while retention remains high. GWP growth in Private rose to 5.1 per cent in the second quarter, from 3.5 per cent in the first quarter, driven by solid momentum in non-motor lines of business, including 11 per cent growth in personal insurance sold in the business area.

Overall Nordic claims trends are developing in line with expectations but following a benign start to the year, the second quarter saw large and natural catastrophe claims significantly above normal, driven by the property line of business. Still, we achieved a first half combined ratio of 88.3 per cent in Industrial, despite second quarter large and natural catastrophe claims being the highest ever experienced by If. Large claims are stochastic by nature, as evidenced by the difference between the first two quarters of the year, but we are nonetheless taking significant rate action to secure profitability.

Pricing momentum in UK motor insurance market accelerated over the second quarter in response to high claims inflation and a modest rise in claims frequencies. This has led to higher rate adequacy and customer switching across the market, allowing Hastings to increase customer numbers by 7 per cent year-on-year. However, due to the lag between prices on written business and premiums earned through the P&L, the ongoing claims trend had a negative effect on first half underwriting margins. The high growth rate added further pressure, owing to the upfront recognition of distribution costs. We have therefore adjusted the outlook for Hastings’ operating ratio for 2023 to 88-90 per cent (from below 88 per cent), despite feeling more confident about the market and performance going into 2024.

Taking a step back, the last few years have seen various shifts in claims, including higher claims inflation and fluctuating claims frequencies, both in the Nordics and the UK. This is part of our business; we create value through disciplined underwriting and excellent claims service. Indeed, it is in a more challenging claims environment that the investments we continuously make into our underwriting skills and digital capabilities, and our diversification, really pay off. In the first half, we improved the adjusted risk ratio excluding discount in If by 0.4 percentage points while our group combined ratio of 83.8 per cent was well ahead of the below 86 per cent target.

Following approval at the Annual General Meeting on 17 May 2023, we are on track to list Mandatum on Nasdaq Helsinki on 2 October 2023, thereby turning Sampo into a pure P&C insurer. This will enable Mandatum to build on its solid growth momentum in capital light fee business, where assets under management grew by 9 per cent in the first half to EUR 11.2 billion. In addition to long term growth, Mandatum offers potentially attractive capital returns, driven by the run-off of its legacy with profit portfolio and its strong solvency position. I strongly believe that Mandatum will benefit from becoming an independent company.

As we move into the last couple of quarters of the 2021-2023 strategic period, we look set to deliver against all of our strategic and group-level financial targets. We plan to host a Capital Markets Day on 14 December 2023 to update investors and analysts on our medium-term strategic ambitions and financial plans. Assuming the spin-off of Mandatum proceeds according to plan, it will be the first time we do so as a pure P&C insurer. Given the momentum we have in our business, and the attractive market conditions in the Nordics and improving pricing dynamics in the UK, I am confident that we can continue to drive attractive shareholder value creation.

Torbjörn Magnusson
Group CEO


Outlook for 2023

Sampo Group’s P&C insurance business is expected to achieve underwriting margins that meet the annual targets set for 2021–2023. At Group level, Sampo targets a combined ratio of below 86 per cent, while the targets set for its fully owned P&C insurance subsidiaries, If P&C and Hastings, are below 85 per cent and below 88 per cent, respectively.

Following strong performance in the first half of the year, the outlook for If P&C’s 2023 combined ratio has been improved to 81.5 – 83.5 per cent (from 82 – 84 per cent). The outlook for the Hastings operating ratio for 2023 has been adjusted to 88 – 90 per cent (below 88 per cent) to reflect the lag between accelerating rate increases and earned premiums, high uncertainty in claims trends and upfront distribution costs related to high growth.

The combined and operating ratios of Sampo Group’s P&C insurance operations are subject to volatility driven by, among other factors, seasonal weather patterns, large claims and prior year development. These effects are particularly relevant for individual segments and business areas, such as the Danish and UK operations.

The net financial result will be significantly influenced by capital markets’ developments. With regard to Topdanmark, reference is made to the profit forecast model that the company publishes on a quarterly basis.

The major risks and uncertainties for the Group in the near-term

In its current day-to-day business activities Sampo Group is exposed to various risks and uncertainties, mainly through its major business units. Major risks affecting the Group companies’ profitability and its variation are market, credit, insurance and operational risks. At the Group level, sources of risks are the same, although they are not directly additive due to the effects of diversification.

Uncertainties in the form of major unforeseen events may have an immediate impact on the Group’s profitability. The identification of unforeseen events is easier than the estimation of their probabilities, timing, and potential outcomes. Macroeconomic and financial market developments affect Sampo Group primarily through the market risk exposures it carries via its insurance company investment portfolios and liabilities and through strategic investments. Over time, adverse macroeconomic effects could also have an impact on Sampo’s operational business, for example by reducing economic growth or increasing claims costs.

Headline inflation has been declining recently due to lower energy prices. However, core inflation remains high, which may force central banks into further rate hikes that could keep interest rates elevated longer than expected. This may lead to both a significant slowdown in economic growth and a deterioration in the debt service capacity of businesses, households and governments, raising the risk of abrupt asset repricing in financial markets. Furthermore, the re-alignment of energy supplies in Europe will take time, raising the prospect of a potential energy crisis, and the war in Ukraine continues to represent a major economic risk. These developments are currently causing significant uncertainties in economic and capital market development. At the same time rapidly evolving hybrid threats create new challenges for states and businesses. There are also a number of widely identified macroeconomic, political and other sources of uncertainty which can, in various ways, affect the financial services industry in a negative manner.

Sampo Group’s insurance exposures in Russia or Ukraine are limited to certain Nordic industrial line clients, with coverage subject to war exclusions. On the asset side, Sampo has no material direct investments in Russia or Ukraine. Given the limited direct exposure, the biggest risk from the war in Ukraine to Sampo relates to the second order capital markets’ and macroeconomic effects outlined above. There were no material COVID-19 effects in the Group’s insurance operations during the first half of 2023. Given the limited impact of COVID-19 and the increasing difficulty in reliably estimating associated effects, Sampo has not disclosed quantitative COVID-19 effects in its financial reporting since February 2022.

Other sources of uncertainty are unforeseen structural changes in the business environment and already identified trends and potential wide-impact events. These external drivers may have a long-term impact on how Sampo Group’s business will be conducted. Examples of identified trends are demographic changes, sustainability issues, and technological developments in areas such as artificial intelligence and digitalisation including threats posed by cybercrime.


Sampo Group’s P&C operations performed well in the first half of 2023 as operational momentum remained strong, but currency headwinds and large and natural catastrophe claims weighed on reported figures. Gross written premiums and other income from insurance contracts increased by 9 per cent on a currency adjusted basis to EUR 5,031 million (4,821), or 4 per cent on a reported basis. In the Nordics, currency adjusted growth remained solid across business areas, driven primarily by rate actions and continued high retention. Currency adjusted growth in Private accelerated to 5.1 per cent in the second quarter, from 3.5 per cent in the first quarter, driven by strong momentum in non-motor lines. Growth was also supported by successful 1 January renewals in Industrial and Commercial, with good new business volumes and high retention. Personal insurance (excluding workers’ compensation), which is sold across multiple business areas, continued to deliver attractive growth of 11 per cent for the first half. In the UK, premiums grew 37 per cent on a local currency basis as the pricing environment continued to improve. Policy count grew by 7 per cent year-on-year to 3.4 million on the back of growth in both motor and home insurance.

Strong premium growth and solid underlying underwriting margins, partly offset by adverse large and natural catastrophe claims experience, drove currency adjusted growth in the underwriting result of 3 per cent. On a reported basis, the underwriting result declined by 2 per cent to EUR 598 million (611). The Group combined ratio weakened by 0.9 percentage points to 83.8 per cent (82.9), mainly due to large and natural catastrophe claims that were only partly offset by positive prior year development. If’s first half adjusted risk ratio excluding discounting effects improved by 0.4 percentage points year-on-year as pricing continued to exceed Nordic claims inflation, which remained stable at 4-5 per cent for the third consecutive quarter. Hastings reported an operating ratio of 90.8 per cent (87.1) as significant price increases were outweighed by adverse claims cost development and upfront distribution costs related to high growth. Claims inflation remained elevated at around 12 per cent and claims frequency is up against the prior year, partly on adverse first quarter weather effects.

The net financial result of EUR 229 million for January-June 2023 was supported by a net investment income of EUR 362 million, driven by stable fixed income returns and strong equity market performance. This was partly offset by the ongoing effect from the unwind of discounting of EUR -113 million, while changes in discount rates had a positive effect of EUR 9 million.

Sampo Group’s Solvency II ratio was strong at 212 per cent net of dividend accrual on 30 June 2023. Financial leverage was 26.7 per cent at the end of June 2023, up from 23.7 per cent at the end of first quarter. The increase was primarily driven by the dividend paid and buybacks executed during the second quarter. Sampo targets a solvency ratio of 170–190 per cent and a financial leverage ratio of below 30 per cent.

Following the Annual General Meeting’s decision to approve the partial demerger of Sampo plc on 17 May 2023, the process of listing Mandatum on Nasdaq Helsinki in October has continued as planned. Mandatum’s profit before taxes consolidated in the Sampo P&L amounted to EUR 87 million and net profit to EUR 70 million.

On 20 June 2023, Sampo announced a submission of an application for a Group Partial Internal Model for purposes of solvency capital requirement (SCR) calculation to the Finnish Financial Supervisory Authority. The model recognises the risk profile of Sampo’s P&C operations better than the standard formula and it is estimated that it would have reduced the group-level SCR by up to EUR 0.3 billion as of the first quarter of 2023. Sampo expects that the application process will be completed during the first half of 2024.

Sampo reported its first half under the new accounting standard “IFRS 17 Insurance Contracts” as well as under “IFRS 9 Financial Instruments”. The comparison figures for 2022 have been restated for IFRS 17 but not for IFRS 9, meaning some figures, such as investment income, are not fully comparable between the reporting periods.

Sampo Group results for January-June 2023

EURm If Top-
Hastings Holding Elim. Sampo Group
GWP & Other income from insurance contracts 3,273 846 912 5,031
Insurance revenue, net 2,466 635 518 3,620
Claims incurred and claims handling costs, net -1,659 -403 -330 -2,392
Operating expenses -380 -115 -124 -619
Insurance service result 427 117 64 608
Other P&C insurance related income or expense -10 -10
Underwriting result 427 117 54 598
Net investment income 339 37 -2 -4 -7 362
Insurance finance income or expense, net -101 -28 -4 -133
Net financial result 238 9 -6 -4 -7 229
Other items -8 -21 -21 -56 1 -105
Profit before taxes 657 105 27 -60 -6 722
Net profit for the equity holders           575
– of which from life operations           70
Combined ratio, % 82.7 81.5 90.8     83.8

Sampo Group results for January-June 2022

EURm If Top-
Hastings Holding Elim. Sampo Group
GWP & Other income from insurance contracts 3,267 842 712 4,821
Insurance revenue, net 2,481 627 406 3,515
Claims incurred and claims handling costs, net -1,658 -412 -218 -2,288
Operating expenses -379 -108 -110 -597
Insurance service result 444 107 78 630
Other P&C insurance related income or expense -19 -19
Underwriting result 444 107 59 611
Net investment income 150 -133 4 174 -3 191
Insurance finance income or expense, net 626 93 15 734
Net financial result 776 -41 19 174 -3 925
Other items 7 -23 -32 29 -1 -21
Profit before taxes 1,227 43 46 203 -5 1,515
Net profit for the equity holders           1,658
– of which from life operations*           441
Combined ratio, % 82.1 82.9 87.1     82.9

*) Net profit from life operations in January-June 2022 includes Mandatum and Topdanmark’s life operations.


In the second quarter of 2023, Sampo delivered strong premium growth and improving underlying profitability but the result was adversely affected by unfavourable currency movements and an increase in large and natural catastrophe claims.

Gross written premiums and other income from insurance contracts increased by 11 per cent to EUR 2,045 million (1,972) on a currency adjusted basis and by 4 per cent on a reported basis due to the weakening of the Swedish and Norwegian krona. In the Nordics, all business areas saw solid top line growth as price increases continued to cover claims inflation, while retention remained high. Currency adjusted premium growth in Private accelerated to 5.1 per cent, from 3.5 per cent in the first quarter, driven by non-motor lines and 11 per cent growth in personal insurance sold in the business area. Nonetheless, growth was highest in the UK driven mainly by pricing, albeit policy count also developed positively.

The Group underwriting result decreased by 12 per cent on a currency adjusted basis to EUR 306 million (369), or 17 per cent on a reported basis. The Group combined ratio deteriorated by 3.8 percentage points to 83.5 per cent (79.7) on the back of unfavourable claims experience both in the Nordics and in the UK. In the Nordics, If was affected by a market-wide claim related to a rock slide in Norway and other large property exposures, mainly in Industrial. In total, large claims and severe weather (including natural catastrophes), had a negative effect of 7.1 per cent (-1.7) on If’s second quarter risk ratio, partly offset by favourable prior year development of 6.0 per cent (0.0), causing a weakening of the combined ratio to 82.9 per cent (80.3).  However, underlying performance remained solid during the quarter as If’s adjusted risk ratio excluding discounting effect improved by 0.5 percentage points year-on-year. In the UK, claims inflation remained at about 12 per cent, which combined with a modest rise in claims frequency, weighed on margins. Hastings reported an operating ratio of 88.6 per cent (83.7).

The net financial result amounted to EUR 106 million on the back of solid net investment income of EUR 108 million supported by rising running yields partly offset by a rise in short term rates, and strong performance in equities. The insurance finance income or expense (IFIE) amounted to EUR -2 million as the positive effect from the change in discount rates offset the negative effect from unwinding of discounting.

Mandatum’s profit before taxes consolidated in the Sampo P&L amounted to EUR 50 million and net profit to EUR 41 million. The result was driven by a net finance result of EUR 44 million and a fee result of EUR 13 million. Mandatum’s unit-linked and other third-party assets reached a new record of EUR 11.2 billion, supported by solid net flows of EUR 157 million during the second quarter. Mandatum Group’s Solvency II ratio amounted 296 per cent. The post-demerger pro-forma Solvency II ratio, including balance sheet restructuring and dividend accrual based on the last dividend of EUR 150 million paid to Sampo, was approximately 225 per cent at the end of June 2023.

Sampo’s second quarter 2023 figures are reported under the new accounting standards “IFRS 17 Insurance Contracts” and “IFRS 9 Financial Instruments”. The comparison figures for 2022 have been restated for IFRS 17 but not for IFRS 9, meaning some figures, such as investment income, are not comparable between the reporting periods.

Sampo Group results for April-June 2023

EURm If Top-
Hastings Holding Elim. Sampo Group
GWP & Other income from insurance contracts 1,307 242 496 2,045
Insurance revenue, net 1,231 317 272 1,821
Claims incurred and claims handling costs, net -830 -200 -168 -1,198
Operating expenses -191 -57 -65 -313
Insurance service result 210 61 39 310
Other P&C insurance related income or expense -4 -4
Underwriting result 210 61 35 306
Net investment income 100 10 -16 18 -4 108
Insurance finance income or expense, net 13 -18 3 -2
Net financial result 112 -8 -12 18 -4 106
Other items -2 -11 -6 -33 2 -50
Profit before taxes 320 42 17 -15 -2 363
Net profit for the equity holders           304
– of which from life operations           41
Combined ratio, % 82.9 80.8 88.6     83.5

Sampo Group results for April-June 2022

EURm If Top-
Hastings  Holding Elim. Sampo Group
GWP & Other income from insurance contracts 1,343 245 384 1,972
Insurance revenue, net 1,259 315 222 1,797
Claims incurred and claims handling costs, net -818 -180 -117 -1,115
Operating expenses -194 -54 -55 -303
Insurance service result 248 81 51 379
Other P&C insurance related income or expense -10 -10
Underwriting result 248 81 41 369
Net investment income 92 -90 1 -1 -2 1
Insurance finance income or expense, net 383 48 -1 430
Net financial result 475 -42 -1 -2 431
Other items 9 -10 -16 40 23
Profit before taxes 732 28 25 40 -1 824
Net profit for the equity holders           886
– of which from life operations*           242
Combined ratio, % 80.3 74.3 83.7     79.7

*) Net profit from life operations in April-June 2022 includes Mandatum and Topdanmark’s life operations.

The Board of Directors

The Half-Year Financial Report for January–June 2023, Investor Presentation and a video review with Group CEO Torbjörn Magnusson are available at

Conference call

A conference call for investors and analysts will be arranged at 1:30 pm Finnish time (11:30 am UK time). Please call tel. +1 786 697 3501, +44 (0) 33 0551 0200, +46 (0) 8 5052 0424, or +358 9 2319 5437.

Conference passcode: Sampo

The conference call can also be followed live at A recorded version will later be available at the same address.

For more information, please contact

Knut Arne Alsaker, Group CFO, tel. +358 10 516 0010
Sami Taipalus, Head of Investor Relations, tel. +358 10 516 0030
Maria Silander, Communications Manager, Media Relations, tel. +358 10 516 0031

Sampo will publish the Half-Year Financial Report on 8 November 2023.

Sampo plans to host a Capital Markets Day on 14 December 2023 to give an update on its medium-term strategic ambitions and financial plans.

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Nasdaq Stockholm
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ComplyCube Unveils No-ID Age Estimation to Address Growing Global Age-Restriction Regulations




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About ComplyCube
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Visit to learn more.
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The latest evolution of the iconic rum brand’s Music Liberates Music programme will use cutting-edge generative A.I. software to give a global collective of artists including UK singer/songwriter Bellah access to Boi-1da’s best-in-class production talent. 
HAMILTON, Bermuda, Oct. 2, 2023 /PRNewswire/ — Continuing its mission to support emerging talent, BACARDÍ and Grammy Award-winning producer Boi-1da are once again partnering to launch this year’s evolution of the longstanding ‘Music Liberates Music’ programme: The A.I. Powered Album. Dropping this November, The A.I. Powered Album will champion works by five global up-and-coming artists in a one-of-a-kind project exploring how A.I. can be positively leveraged to provide emerging talent unprecedented opportunities. For the first time since the campaign’s inception, each artist will have the opportunity to try out multiple demos with Boi-1da’s star-powered beats, using a generative A.I. trained on the award-winning producer’s sound, to ultimately finalise one incredible track. Together, the tracks will be offered to fans as the first-ever A.I. powered EP produced by Boi-1da.


The A.I. Powered Album will feature tracks from UK-based singer Bellah as well as Ghanian-raised rapper Blackway, American R&B singers Floyd Fuji and Kyle Dion, and Canadian R&B artist Savannah Ré. Over several weeks, each artist will feed their tracks into a state-of-the-art generative A.I. tool, which has been trained on a selection of beats from Boi-1da’s unreleased catalogue and will learn the sounds and cadence of his unique musical style. After submitting their demos to Boi-1da, each artist will work alongside him to refine their works, resulting in the EP’s final set of songs to be released this November.
Bellah, from North London, has a special knack for gliding over classic R&B instrumentals and captivating audiences. With a handful of EPs under her belt, the burgeoning British/Nigerian singer/songwriter has proven why she is at the forefront of the UK R&B industry. In her third and most recent piece, Adultsville, Bellah explores what it means to evolve into a woman in the modern world. It’s the inner page of a journal that, in looking back on her life and work as a whole, she describes as the “most transforming, traumatic, eye-opening, beautiful, and awful chapter of my life.”
With a style that combines traditional R&B with an Afro influence, Bellah’s very likable and sincere lyricism shines just as brightly as her voice. Her British-Nigerian ancestry lends an Afro influence to that unfiltered R&B, a sound that has been praised by Complex and BBC 1Xtra, which named her first hit their Track Of The Week. As a rising star in the music and entertainment industry, she’s already garnered a MOBO nomination, cementing her status as one of the most promising talents in the UK music scene. With over 1 million monthly listeners on Spotify, Bellah has captivated a wide audience with her music.
As with each Music Liberates Music programme, all proceeds from the project will directly benefit the participating artists. All copyright and subsequent revenue from the tracks will remain with the artists and Boi-1da. Fans can enjoy The A.I. Powered Album available for purchase as a limited-edition vinyl as well as for free on streaming platforms, such as Spotify, this November.
“This is the fifth year we’re bringing Music Liberates Music back for artists and fans alike. We’re proud to continually support emerging talent with new resources that fuel creativity and collaboration,” said Laila Mignoni, Global Head of Brand Marketing Communications for BACARDÍ rum. “Ultimately, our goal is to provide opportunity and access to rising artists in the industry, so it’s been exciting to broaden Boi-1da’s capabilities, allowing him to work with multiple artists on multiple tracks, simultaneously as one producer. We know the conversation around AI has been a challenging one, so approaching this project with the utmost respect and protection for the artist was key in developing this new tool. The technology is, and always should be, complementary to each artist’s work and protective of all the creatives involved.”
“I’m thrilled to work with BACARDÍ on this ground-breaking new iteration of Music Liberates Music exploring AI as a tool to enrich human creativity,” says Boi-1da. “One of the most fulfilling responsibilities I have as a producer is to work with up-and-coming talent. Through the A.I. Powered Album, we’ve provided unprecedented access to my personal production style. I’m able to work with an international collective of artists simultaneously, while still honouring their creative autonomy. Music as an art has continually grown thanks to innovative technology, and with AI, I believe we can revolutionise the music industry for good if we view it as a way to provide opportunities that enhance music’s human element, rather than replace it.”
For more information and updates on the launch of The A.I. Powered Album follow @bacardi_uk on all social channels or visit
About BACARDÍ® Rum – The World’s Most Awarded Rum In 1862, in the city of Santiago de Cuba, founder Don Facundo Bacardi Massó revolutionized the spirits industry when he created a light-bodied rum with a particularly smooth taste – BACARDÍ. The unique taste of BACARDÍ rum inspired cocktail pioneers to invent some of the world’s most famous recipes including the BACARDÍ Mojito, the BACARDÍ Daiquiri, the BACARDÍ Cuba Libre, the BACARDÍ Piña Colada and the BACARDÍ El Presidente. BACARDÍ rum is the world’s most awarded spirit, with more than 1,000 awards for quality, taste and innovation. Today, BACARDÍ rum is made mainly in Puerto Rico where it is crafted to ensure the taste remains the same today as it did when it was first blended in 1862. http://www.BACARDÍ.com/
The BACARDÍ brand is part of the portfolio of Bacardi Limited, headquartered in Hamilton, Bermuda. Bacardi Limited refers to the Bacardi group of companies, including Bacardi International Limited.
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