December 1999 / January 2000

Skandia, Storebrand and Pohjola

01 December 2000

A three-way merger between a Swedish, Norwegian and Finnish insurance company is to create the largest non-life insurance company in the Nordic market. Skandia of Sweden and Storebrand of Norway are merging in February 2000, and Pohjola is due to join the group in June. The merged group will have around 20 per cent of the Nordic insurance market, but the European Commission believes the deal will have only minor effects on competition.