Vesta's property & casualty insurance operations to be listed on Oslo Stock Exchange

Vesta's property & casualty insurance operations to be listed on Oslo Stock Exchange Skandia's and Storebrand's newly formed Nordic property & casualty insurance company, together with the board of Vesta Forsikring A/S, has decided to prepare Vesta's property & casualty insurance operation for a listing on the Oslo Stock Exchange. Vesta's chairman, Lars-Eric Petersson, who is also CEO of Skandia, comments: "The decision to list Vesta's property & casualty insurance operation on the Oslo Stock Exchange presents a constructive solution to the market situation in Norway." Bo Ingemarson, President and CEO of the newly formed Nordic property & casualty insurance company, adds: "The newly formed property & casualty insurance company's annual synergy gains of MSEK 450 will not change, despite a market listing of Vesta. The goal of achieving a market share of over 20 per cent in the Nordic countries remains." For further information, please contact: Ulf Spång, Executive Vice President and CFO, Skandia, tel. +46-8-788 2905 Birgitta Hammarström, Press Officer, Skandia, tel. +46-8-788 2755 Skandia Insurance Company Ltd S-103 50 Stockholm Telephone +46-8-788 10 00 Telefax +46-8-788 30 80 http://www.skandia.se Office: Sveavägen ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/03/17/19990317BIT00150/bit0001.doc http://www.bit.se/bitonline/1999/03/17/19990317BIT00150/bit0002.pdf