Board approval of parent-daughter merger
Reference is made to the stock exchange release published by Insr Insurance Group ASA ("Insr") on December 21st 2017, where the company announced that the Boards of directors of Insr and Nemi Forsikring AS ("Nemi") had approved a joint merger plan for the two companies in accordance with the provisions relating to mergers of parent companies and wholly owned subsidiaries.
On December 22nd 2017, the joint merger plan was announced by the Norwegian Register of Business Enterprises and the joint merger plan and related documents were made available on Insr's website. To effect the merger, the Boards of directors of Nemi and Insr are required to pass a second resolution to finally adopt the joint merger after the merger plan and related documents have been publically available for a month. Such a resolution was passed today.
Completion of the merger is conditional upon (i) expiration of a six weeks creditor notification period, (ii) approval by the Norwegian Financial Supervisory Authority of the merger and (iii) no objections having been made by creditors during the creditor notification period or objections, if any, having been clarified.
This information is subject to the disclosure requirements to section 5-12 of the Norwegian Securities Trading Act.
Anne B. Knudtzon
SVP Business Controlling & Investor Relations
Phone: +47 926 10 606
E-mail: Anne B. Knudtzon
Insr Insurance Group ASA was established in 2009 and is an independent insurance group listed on the Oslo Stock Exchange, with headquarters in Oslo. Insr has a license for all groups of non-life insurance, except for credit and guarantee insurance. The Company's main focus is on the market for property and casualty insurance for the retail and small & medium sized enterprise segments in Norway and Denmark. Insr distributes its products mainly through insurance agents and partners.