Approval for the New Nordic P&C Company

Banking, Insurance and Securities Commission of Norway Gives Approval for the New Nordic P&C Company In a statement made today to the Norwegian Ministry of Finance, the Banking, Insurance and Securities Commission of Norway recommended the granting of a licence to Storebrand to transfer its property & casualty insurance operations to the new Nordic P&C company being formed by Skandia, Storebrand and Pohjola. Last month the EC Commission announced its approval of the new company from a competition standpoint. For furter information, please contact: Ulf Spång, Executive Vice President and Chief Financial Officer, Skandia, tel +46-8-788 2905 Jan-Mikel Bexhed, General Counsel, Skandia, tel +46-8-788 3722 Birgitta Hammarström, Press Officer, Skandia, tel +46-8-788 2755, 070-378 2755 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/09/14/19990914BIT00320/bit0001.doc http://www.bit.se/bitonline/1999/09/14/19990914BIT00320/bit0002.pdf