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Norway's Fremtind Forsikring approved to offer life insurance through unit

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Norway's Fremtind Forsikring approved to offer life insurance through unit

The Financial Supervisory Authority of Norway is allowing Fremtind Forsikring AS to offer life insurance through subsidiary Fremtind Livsforsikring AS.

The establishment of Fremtind Livsforsikring will be implemented by the demerger of assets and liabilities from SpareBank 1 Forsikring AS and DNB Livsforsikring AS, respectively.

The demerger means that the individual and corporate personal risk insurance from SpareBank 1 Forsikring are transferred to Fremtind Livsforsikring. The demerger is expected to be completed Jan. 1, 2020.

Fremtind Forsikring was established Jan. 1 by a merger between SpareBank 1 Skadeforsikring AS and DNB Forsikring AS. The company is 65% owned by SpareBank 1 Gruppen AS and 35% owned by DNB ASA.