Merger Approved for Major Norwegian Insurers

Sparebank 1 Ostlandet (SPRBF) has released an update.

Norway’s Financial Supervisory Authority has approved the merger between Fremtind Forsikring AS and Eika Forsikring AS, set to be completed on July 1, 2024, with a final merger approval expected by October 1, 2024. SpareBank 1 Gruppen AS will be the majority shareholder in the new entity, Fremtind Holding AS, resulting in an approximately NOK 7 billion equity increase for the group. SpareBank 1 Østlandet, owning a 12.4% stake in SpareBank 1 Gruppen AS, will see an equity increase of roughly NOK 320 million.

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