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Sampo Oyj's If P&C Insurance Company Ltd to Acquire Tryg A/S' Finnish Operations and Wins Marketing Deal from Nordea; Tryg Renews Contract with Nordea-COMPLETE STORY

Tuesday, 6 Nov 2012 01:00am EST 

Tryg A/S announced that If P&C Insurance Company Ltd (IF) owned by Sampo Oyj, is to buy Tryg A/S' Finnish operations. IF will pay Tryg EUR 15 million (USD 19.17 million) for the business. The deal will increase IF's market share in Finland to approximately 26% from 24%. The sale is expected to be completed during the spring of 2013 and is subject to approval by the authorities. Approximately 200 employees will be transferred to IF. In addition, Nordea will shift from selling Tryg's insurances to offer IF's products in Finland, Sweden and Baltic countries, while Tryg renewed a similar partnership deal with Nordea in Denmark and Norway for a five-year period beginning on January 1, 2013. Nordea will continue to sell Tryg's products in Denmark and Norway and Tryg will continue to sell Nordea's pensions products in Denmark and Norway. 

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