If P&C Insurance - NEW Annual Report 1999

If P&C Insurance - NEW Annual Report 1999 If is the leading property and casualty insurance company in the Nordic area formed by Skandia and Storebrand. The merger of the property and casualty business of Skandia and Storebrand was announced on February 22 1999 with effect from March 1. Pohjola joined the new property and casualty company with effect from July 1, 1999. The full publication of the 1999 legal and pro forma results including Pohjola was released on March 8 2000. The new Annual Report has been drawn up on account of the decision by an extraordinary general meeting of the shareholders of Pohjola, held on 16 May 2000. That decision cancelled the agreement which Pohjola entered into with Skandia and Storebrand, by which Pohjola's property and casualty business would be merged with those of Skandia and Storebrand to form If. Against this background, the items relating to If's share of Pohjola's earnings in the second half of 1999 and incorporated into the accounts contained in the former legal and pro forma results are not included in the present Annual Report. Below If provides highlights from the 10 months period March 1 - December 31 1999. Group results 1999 (MSEK) Premiums earned 13,114 Claims incurred -12,626 Operating expenses -3,149 Technical result before investment result -2,661 Investment result 3,364 Operating result property & casualty 703 Sale of Vesta operation 1,198 Operating result 1,901 For further information visit the If website www.if-insurance.com where a copy of the full Annual Report can be found under 'Investor Relations'. For questions please call: Tom Rathke, CFO tel: +46 8 788 32 25 Nils Henriksson, Investor Relations tel: +46 8 788 12 82 Susanna Halse, Investor Relations tel: +46 8 788 24 28 ------------------------------------------------------------ This informatin was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/07/12/20000712BIT00750/bit0001.doc http://www.bit.se/bitonline/2000/07/12/20000712BIT00750/bit0002.pdf Annual report