SAMPO PLC STOCK EXCHANGE ANNOUNCEMENT 10 June 2008 at 8:45 am
SAMPO'S SUBSIDIARY IF P&C INSURANCE TO COMBINE ITS BALTIC SUBSIDIARIES UNDER ONE
LEGAL COMPANY
If P&C Insurance,a subsidiary of Sampo plc, is combining its subsidiaries
operating in Estonia, Latvia and Lithuania into one legal company in the Baltic
countries. The rearrangement will simplify and strengthen the structure of the
Baltic property and casualty insurance operations and will improve efficiency.
AS If Eesti Kindlustus, operating in Estonia, UAB If Draudimas, operating in
Lithuania and AAS If Latvia will be merged into one company to be domiciled in
Tallinn, Estonia. Before the merger Lithuanian If Draudimas would be transferred
into public limited company.
After the merger, property and casualty insurance operations in Lithuania and
Latvia will be carried out through the branch offices of the new company named
after its parent company If P&C Insurance AS.
The transactions are conditional on the receipt of necessary official permits by
the authorities of the Baltic countries. The plan is to complete the
transactions in first quarter of 2009.
SAMPO PLC
Maria Silander
Press Officer
phone +358 10 516 0031
For additional information, please contact:
Timo Vuorinen
Head of BA Baltic and Russia
tel. +358 10 514 3887
Distribution:
OMX Nordic Exchange Helsinki
The principal media
Financial Supervision
Insurance Supervision Authority
www.sampo.com
Sampo's subsidiary If P&C Insurance to combine its Baltic subsidiaries under one legal company
| Source: Sampo