STB - Internal transaction
30th December 2002 Storebrand ASA entered into an agreement to buy the share in If Property & Casualty (22.47%) from its subsidiary Storebrand Skadeforsikring AS. The main purpose of the transaction is to cultivate the group's activities within property and casualty business, to enable further restructuring and increased focus on the group's core activities. By moving the ownership of If to Storebrand ASA, all of Storebrand's active operations will be owned directly by the holding company. The group's remaining run-off business (P&C and reinsurance), including the ownership of Oslo Reinsurance Company ASA, will be held in Storebrand Skadeforsikring AS. The Ministry of Finance and the Bank, Insurance and Security Commission have approved the transaction.