Business Services Industry
Storebrand ASA invests NOK800m in strengthening life insurance business
Nordic Business Report, May 11, 2004
NORDIC BUSINESS REPORT-11 May 2004-Storebrand ASA invests NOK800m in strengthening life insurance business(C)1994-2004 M2 COMMUNICATIONS LTD http://www.m2.com
The Norwegian financial group Storebrand ASA said on Tuesday (11 May) that it would strengthen its life insurance business by investing NOK750m in Storebrand Livsforsikring AS through a directed share issue.
Storebrand is also to strengthen Storebrand Fondsforsikring AS through a NOK50m investment.
The investments are being made in order to support expected growth, Storebrand said.
One Norwegian krone (NOK) is worth approximately 0.08 British pounds (GBP).
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