Insr: Amended Tier 1 Loan Terms
Insr Insurance Group ASA and Nordic Trustee AS, on behalf of the bondholders, have entered into an agreement amending Insr’s Tier 1 loan, the perpetual bond with ISIN NO0010834880.
The European insurance regulator EIOPA has modified criteria for loan instruments to qualify as Tier 1 hybrid capital under Solvency II, implemented in Norway from June 30th, 2020. The purpose of the loan amendment agreement is for the loan to qualify as Tier 1 under the new regulations. The amendment modifies how the bond is written down in the case of a capital shortfall, detailing a steeper write-down should the company experience a severe solvency capital situation. Other loan terms are unchanged.
For further information, please contact:
Anne B. Knudtzon, SVP Business Controlling & Investor Relations
T: +47 926 10 606
Partnership insurance made easy. Insr enables you to broaden your customer or member offering through white label and co-branding insurance solutions. We provide insurance risk capital and insurance expertise, whilst you maintain your customer or member relationship. Insr is regulated by the Norwegian FSA (Finanstilsynet) and has a license for all groups of non-life insurance, except for credit and guarantee insurance.
Insr Insurance Group ASA was established in 2009 and is an independent insurance group listed on the Oslo Stock Exchange, with headquarters in Oslo. The Company’s main focus is on the market for property and casualty insurance for the retail and small enterprise segments in Norway. Insr distributes its products mainly through partners and insurance agents.