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Mandatum Life Insurance to merge 2 units

Mandatum Life Insurance Co. Ltd. is merging Innova Service AB with Mandatum Life Service AB in a bid to simplify the Finnish life insurance group's legal structure.

Integration of the two businesses is expected Dec. 4, following which the Innova Service brand will disappear. Mandatum Life Service's business units will be named Mandatum Life Rewards Services and Mandatum Life Pension Services.

Mandatum Life Insurance is wholly owned by Sampo Oyj.