STB: If Skadeförsäkring's 1st quarter result
If today presents its accounts for 1st quarter 2002. Group operating result for If in the first quarter was minus SEK 541 mill., and the company has a combined ratio of 111.3%. Reference is made to the enclosed press release from If.
Storebrand's equity share in If is 22.47%, and the share of results will as in previous years be included in Storebrand's accounts using the equity method.
The effect of losses in If on Storebrand Group's result is minus NOK 78 mill. This represents a loss of NOK 0.28 per share.
Reference is made to the conference call to be held at 14.00 (CET) today by If CEO Torbjörn Magnusson. To participate, please call +44 (0)20 8240 8240 before 14.00 and ask to be connected to the If teleconference. Reference is furthermore made to If's website http://www.if-insurance.com/
Storebrand will publish the Board's report for the 1st quarter 2002 later today.
Enclosed: Press release from If
Contact persons Storebrand: <br>Lars Aa Løddesøl, Executive Vice President, Finance Director <br>Tel.: +47 22 31 56 24, Mob.: +47 93 48 01 51 <br>Egil Thompson, Director of Corporate Communications <br>Tel.: +47 22 48 95 86, Mob.: +47 93 48 00 12