If's Finnish Marine and Energy portfolio concentrated to Gard Services

If's Finnish Marine and Energy portfolio concentrated to Gard Services The Norwegian Gard Services AS insurance management company will take over the management responsibility for If's Finnish Marine and Energy portfolio and continue to offer local services in the Finnish market with effect from 1 January 2003. The staff responsible for expertise and services will consist of the existing personnel in Baltic Protection Alandia as well as key personnel from the Finnish part of If's Marine and Energy division. Baltic Protection Alandia has been the agent of Gard in Finland since 1989. Gard Services is an insurance management company established in 2000 and which is owned jointly by the Norwegian Gard P&I Club and Swedish If P&C Insurance Ltd (publ). Gard Services manages both the insurance operations of Gard P&I Club and If's Marine and Energy activities. In connection with the merger of Sampo Property and Casualty (P&C) operations to If at the turn of the year, Sampo's Marine and Energy activities were also integrated into If's Marine and Energy division. Pursuant to an agreement between Gard P&I Club and If, the Swedish part of Sampo Marine and Energy division's international operations was handed over to Gard Services AS' wholly owned subsidiary, Gard Services (Sweden) AB, with effect from 1 July this year. "We are pleased to see the transfer of the management responsibility for Sampo's former Finnish Marine and Energy portfolio to Gard Services AS being completed by the end of the year. The new management structure will give the customers access to Gard's expertise and global service network. The key personnel of If's Finnish Marine and Energy operation will transfer to the new company, thus guaranteeing high-quality service for Finnish customers also in the future", says Anders Nordman, Head of business area Industrial in If. "We will continue to offer the Finnish market local services through the Finnish subsidiary as well as a 24-hour global service through our own or associated offices abroad. The personnel from If to be transferred to our new subsidiary in Helsinki will secure the continuity as to the level of service and contacts with clients", says Claes Isacson, Chief Executive Officer of Gard Services AS. The co-operation with Oy Baltic Protection Alandia AB has been instrumental in Gard's successful expansion in the Finnish P&I market during the last 12 years. Gard is a minority shareholder in Baltic Protection Alandia and its intention is to acquire all the shares in the company. Baltic Protection Alandia is also the agent of the Alandia Group, a marine insurance company on the Åland Islands, in mainland Finland. The strategic co-operation between Gard Services and Alandia will continue to the extent it is not in conflict with If's Marine and Energy activities. A final agreement with the Alandia Group is subject to the approval of its Board of Directors. Contact details: Sven Henrik Svensen, Senior Vice President, Gard Services AS Telephone: +47 37 01 91 15, Mobile: +47 97 55 91 15 Anders Nordman, Head of business area Industrial If Telephone: +358 10 514 5621, Mobile: +358 50 424 5621 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/10/11/20021011BIT00360/wkr0001.doc http://www.waymaker.net/bitonline/2002/10/11/20021011BIT00360/wkr0002.pdf

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