The sale of Vesta Skadeforsikring a positive clarification for if...

The sale of Vesta Skadeforsikring a positive clarification for if... "We are very pleased with Skandia's decision to sell Vesta Skadeforsikring to Tryg-Baltica. The sale is a positive clarification for the new Nordic property and casualty insurance company if...", says Bo Ingemarson, Chief Executive Officer of if..., the property and casualty insurance company that Skandia, Pohjola and Storebrand intend to establish together. "With the sale of Vesta one of the most important issues related to the establishment of if... has now been clarified, and we hope that the sale will make a positive contribution towards clarifying the issue of Norwegian regulatory approval to the establishment of if... Vesta Skadeforsikring is today an asset in if... and compared to book value the sale of Vesta Skadeforsikring will give if... a gain of more than NOK 1 billion. The fact that Tryg-Baltica is buying Vesta, thus becoming an important competitor to if... on the Nordic P&C market, only confirms that other insurance groups regard the Nordic area as a natural region on which to concentrate and enjoy growth, just as Pohjola, Skandia and Storebrand have illustrated by planning to establish if...", says Ingemarson. Stockholm/Oslo 9 December 1999 For further details please contact: Tom Rathke, CFO, +46 8 788 3225, mobile +47 900 90 445 Jack Frostad, Corporate Communications, +47 22 31 57 57, mobil +47 928 26 255. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/12/09/19991209BIT00100/bit0001.doc http://www.bit.se/bitonline/1999/12/09/19991209BIT00100/bit0002.pdf