According to several news reports, Norway’s largest financial institution, DnB Holdings, which is 47 percent government owned and includes Den Norske Bank, is seeking to acquire Storebrand ASA, the country’s largest insurer. DnB acquired a 10 percent stake in Storebrand …
A violent storm sweeping in off the North Sea over the weekend has left a trail of devastation in Northern England, Wales and Scotland. With wind gusts reaching 120 mph. The storm caused the deaths of 7 persons, halted rail …
Finland’s Sampo will join two other Nordic Insurers, Sweden’s Skandia and Norway’s Storebrand as a shareholder in If Property and Casualty Insurance Ltd. following the transfer of its non-life operations to the group. When completed, Sampo will own a 38 …
Confirming previous reports (See IJ Website Sept. 24), Sampo, the Finnish banking and insurance group, yesterday confirmed that it was withdrawing its $2.3 billion bid for Storebrand, Norway’s largest insurance company. The abandonment came as no surprise. the bid has …
Sampo, the Finnish financial group which has been seeking to acquire Norway’s largest insurer, Storebrand, may be about to abandon its efforts in the face of the Norwegian government’s continued opposition, and the current turmoil in the financial markets caused …
The ongoing struggle between Finnish insurer Sampo PLC and the Norwegian government for control of Storebrand, Norway’s largest insurer, took a new turn on Friday when the country’s Banking, Insurance and Securities Commission (BISC) urged the government to block Sampo’s …
Finland’s Sampo plc has extended its offer to the shareholders of Norway’s Storebrand ASA for one month. The new deadline for acceptance of the $2.2 billion offer is now set to expire August 10th. Although Sampo announced that 83.5 percent …
International rating agency Standard & Poor’s announced that it had lowered its counterparty credit and insurer financial strength rating on Sunderland Marine Mutual Insurance Co. Ltd (SMMI) to triple-‘B’ from triple-‘B’ plus. It also affirmed the ‘A’ rating of mutual …
Finland’s Sampo announced that it has agreed to sell its Dutch unit, Sampo Industrial Insurance N.V. to U.K. insurer Hampden plc; the price will be based on the next 5 years operating results. The move comes as part of Sampo’s …
Finnish insurer Sampo’s bid for Norway’s leading insurance company, Storebrand, has apparently been blocked by Den Norske Bank’s acquisition of 9.76 percent of the company’s outstanding shares. Sampo topped the bank’s offer for Storebrand last May, and, despite objections from …
