Nykredit has sold Nykredit Forsikring A/S to Gjensidige

On 8 March 2010, Nykredit Realkredit A/S signed a binding agreement concerning the sale of Nykredit Forsikring A/S to Gjensidige Forsikring BA.

The implementation of the transaction was subject to the usual terms and condi-tions, including the approval of the financial supervisory authorities in Denmark and Norway. As all terms and conditions had been complied with, the parties imple-mented the transaction on 29 April 2010.

– With the acquisition of Nykredit Forsikring, Gjensidige is now the fifth largest in-surance company in Denmark, says Helge Leiro Baastad, CEO of Gjensidige.

In connection with Nykredit's sale of its insurance activities to Gjensidige, Nykredit and Gjensidige have entered into a long-term strategic alliance.

– Through the alliance with Gjensidige we will continue to offer our customers in-surance services and products, which is an important element of the agreement, says Peter Engberg Jensen, Group Chief Executive of Nykredit.

Contacts

Gjensidige: Helge Leiro Baastad, CEO, or
Øystein Thoresen, Head of Communication, tel +47 95 23 33 82.

Nykredit: Peter Engberg Jensen, Group Chief Executive, or Nels Petersen, Head of Corporate Communications, tel +45 44 55 14 70 or +45 20 22 22 72.