SPP Liv Fondförsäkring AB (publ) (”SPP Fondliv”) and SPP Livförsäkring AB (publ) (”SPP Liv”) have, on 26 November 2014, received the Swedish Financial Supervisory Authority’s (the “SFSA”) approval to execute their joint merger plan. In connection with the application for approval of the merger plan, SPP Fondliv applied to the SFSA for approval to include the subordinated loan (Sw. förlagslån) issued by SPP Liv on 27 February 2014 in its capital base under Solvency I. The SFSA has dismissed the application. The SFSA bases their decision on inter alia that the solvency of the company is too strong to grant approval. The decision affects the solvency ratio of the company following the Merger with -0.16. Consequently, the solvency ratio of the company following the Merger will be 1.97, based on the companies' published accounts as of 30 September 2014. SPP Fondliv is planning to appeal the decision. Stockholm, 8 December 2014 For further information please contact: Finance Director Storebrand Sigbjørn Birkeland: sigbjorn.birkeland@storebrand.no or +47 934 80 893
SPP Liv Fondförsäkring AB (publ) does not receive the SFSA's approval to include the subordinated loan in its capital base
| Source: SPP Livförsäkringar AB