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Insr Insurance Group completes NEMI Forsikring acquisition

Insr Insurance Group ASA completed its full acquisition of NEMI Forsikring ASA from Alpha Insurance A/S on Nov. 30.

On Nov. 27, Insr secured regulatory approval for the deal from the Norwegian Financial Supervisory Authority. The new group that will be established after deal completion may include two separate companies operating in the same type of business for up to half a year.

In late August, Insr raised up to 400 million Norwegian kroner in a share issuance to finance the acquisition.

The company added the issuance of a consideration of 12,857,142 shares to Alpha Insurance awaits registration at the Norwegian Register of Business Enterprises.

As of Nov. 30, US$1 was equivalent to 8.28 Norwegian kroner.