New Board of Directors of If P&C Insurance

New Board of Directors of If P&C Insurance The following changes have been made in the composition of the Board of Directors of If P&C Insurance Holding Ltd. and If P&C Insurance Ltd. (publ). Johan Fredrik Odfjell and Jon Giverholt join the Board as new shareholder-elected members. Skandia's Chief Executive Officer Lars-Eric Petersson and Storebrand's former Chief Executive Office Åge Korsvold leave the Board. Johan Fredrik Odfjell has been elected Chairman of the Board, succeeding Åge Korsvold. These changes have been implemented as part of the preparations for an IPO of If during the first half of 2001. Storebrand's Acting Chief Executive Officer, Idar Kreutzer, and Skandia's Chief Financial Officer, Ulf Spång, continue as shareholder-elected members. Bo Ingemarson, Chief Executive Officer of If, remains a Board member. Johan Fredrik Odfjell runs his own business advisory firm from Norway and he is a member of the board of several leading companies. Odfjell is Chairman of the Board of Nera ASA and Vice Chairman of Nycomed Amersham plc and Det norske Veritas and a member of the Board of Skandia. Jon Giverholt is Chief Financial Officer of the Tiedemann Group in Norway. Stockholm/Oslo 31 October 2000 For further details please contact: If: Jack Frostad, Director of Corporate Communications, tel. 0047 22315757, mobile 0047 92826255 Skandia: Birgitta Hammarstrøm, Press Manager, tel. 00468 788 2755, mobile 0046 70378 2755 Storebrand: Egil Thompson, Director of Corporate Communications, tel. 0047 22489586, mobil 0047 93480012 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/10/31/20001031BIT01330/bit0001.doc http://www.bit.se/bitonline/2000/10/31/20001031BIT01330/bit0002.pdf

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