Storebrand Livsforsikring AS : Storebrand Livsforsikring: SPP sells SPP Liv Pensionstjänst AB to KPA Pension

 Storebrand Livsforsikring AS : Storebrand Livsforsikring: SPP sells SPP Liv
                       Pensionstjänst AB to KPA Pension

SPP, a subsidiary of Storebrand, has signed an agreement to sell SPP Liv
Pensionstjänst AB to KPA Pension. Under the agreement, the administration
associated with SPPs municipal customers is transferred to KPA Pension. The
agreement also includes the transfer of approximately NOK 1.2 billion from
SPPs guaranteed portfolios to KPA Pension.

The deal is subject to regulatory approval. Given regulatory approval, the
estimated result effect for SPP is positive with approximately NOK 100
million. The result effect is expected to be booked in the 2nd quarter of
2013. The result impact is a combination of low booked values of the shares
ofSPP Liv Pensionstjänst AB and release of reserves.

The parties have agreed not to comment on the purchase price.

The agreement will strengthen the Solvency position through reduced capital
requirements.

Lysaker, 20 March 2013

Contacts:

Elin Myrmel-Johansen, Director of Communications, mob +47 934 80 538

Trond Finn Eriksen, Head of Investor Relations, mob. +47 991 64 135

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)

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Source: Storebrand Livsforsikring AS via Thomson Reuters ONE
HUG#1686715
 
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