Mandatum and If Livförsäkring AB (branch in Finland) have agreed on a portfolio transfer wherein Mandatum Life will transfer to If Livförsäkring AB such life insurance contracts that have been sold by If P&C Insurance Ltd’s branch in Finland, as well as insurance plans managed by If P&C Insurance. The sale of the portfolio concerns approximately 50,000 contracts.
The parties have also signed a letter of intent regarding the transfer of an employee group life insurance portfolio to If Livförsäkring AB.
The total purchase price is EUR 17.5 million. The portfolio transfer to If Livförsäkring AB is expected to take place by the fall of 2024. The completion of the transaction requires the approval of the authorities.
The portfolio transfer has no effect on customers, and the contracts of the customers in the transferred portfolio will continue as before. Portfolio management in Finland will continue under If Livförsäkring AB’s branch in Finland.
Additional information:
CEO, Petri Niemisvirta, petri.niemisvirta@mandatum.fi, 010 516 7200
Senior Vice President, Marketing and Communications, Niina Riihelä, niina.riihela@mandatum.fi, 040 728 1548.
Mandatum
Mandatum is a major financial services provider that combines expertise in money and life. The company offers customers a wide array of services covering asset and wealth management, savings and investment, compensation and rewards, pension plans and personal risk insurance. Mandatum offers services to corporate, retail as well as institutional and wealth management customers. At the heart of Mandatum's business success is its skilled personnel, strong brand and proven investment track record.
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