Storebrand ASA: SPP sells SPP Liv Pensionstjänst AB to KPA Pension
(Thomson Reuters ONE) -
SPP, a subsidiary of Storebrand, has signed an agreement to sell SPP Liv
Pensionstjänst AB to KPA Pension. Under the agreement, the administration
associated with SPPs municipal customers is transferred to KPA Pension. The
agreement also includes the transfer of approximately NOK 1.2 billion from SPPs
guaranteed portfolios to KPA Pension.
The deal is subject to regulatory approval. Given regulatory approval, the
estimated result effect for SPP is positive with approximately NOK 100 million.
The result effect is expected to be booked in the 2nd quarter of 2013. The
result impact is a combination of low booked values of the shares for SPP Liv
Pensionstjänst AB and release of reserves.
The parties have agreed not to comment on the purchase price.
The agreement will strengthen the Solvency position through reduced capital
requirements.
Lysaker, 20 March 2013
Contacts:
Elin Myrmel-Johansen, Director of Communications, mob +47 934 80 538
Trond Finn Eriksen, Head of Investor Relations, mob. +47 991 64 135
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Storebrand ASA via Thomson Reuters ONE
[HUG#1686704]
Unternehmensinformation / Kurzprofil:
Datum: 20.03.2013 - 14:00 Uhr
Sprache: Deutsch
News-ID 241454
Anzahl Zeichen: 1922
contact information:
Town:
Oslo
Kategorie:
Business News
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