Aktia Life Insurance receives permission to apply Solvency II transitional measures

Aktia Bank plc
Stock Exchange Release
18.12.2015 at 4:00 p.m.

Aktia Life Insurance receives permission to apply Solvency II transitional measures

The Financial Supervisory Authority granted Aktia Life Insurance Company Ltd permission to apply a transitional for calculation of technical provision within the Solvency II framework entering into force on 1 January 2016.

Application of the transitional increases the company’s available capital as calculated according to Solvency II rules, thus improving the company’s solvency. 

“The use of the transitional is motivated, as it enables gradual changeover to the new Solvency framework. Calulation of technical provision in accordance with Solvency II strengthens the company’s solvency to a very good level, says Katja Kerke, Managing Director of Aktia Life Insurance Company Ltd.

Aktia will publish the impact on solvency in the Accounts Announcement of Aktia Bank Group on 12 February 2015.

The permission has no significant impact on the Aktia Bank Group’s capital adequacy, operating profit or ability to pay dividends.

AKTIA BANK PLC

For more information, please contact:
Aktia Life Insurance Company Ltd, Managing Director Katja Kerke, tel. +358 10 247 8344
CFO Fredrik Westerholm, tel. +358 10 247 6505

Distribution:
Nasdaq Helsinki Ltd
Central media
www.aktia.com

Aktia provides a broad range of products within banking, insurance and real estate agency. Aktia operates mainly in coastal areas and inland growth areas.
Aktia has about 300,000 customers who are served by nearly 900 employees at 50 branch offices and via Internet and telephone services. Aktia's shares are listed on the list of NASDAQ OMX Helsinki Ltd. For more information about Aktia see www.aktia.com