OSLO, April 3 Storebrand, Norway's
largest insurer, expects new reserve requirements tied to
existing pension contracts to result in a charge of 80 million
to 100 million crowns ($13.39 million-$16.74 million) in the
first quarter, it said on Thursday.
The announcement comes after the Nordic country's financial
regulator said on Wednesday insurers would be allowed to use up
to seven years to meet the requirements, rather than the five
years originally proposed.
Some observers had expected the adaptation period to be
longer than seven years.
($1 = 5.9743 Norwegian Kroner)
(Reporting by Gwladys Fouche, editing by Henrik Stolen)