Folksam Completes Sale of Finnish Folksam Damage Insurance

Folksam Sak has today completed the sale of the 75% shareholding in Finnish Folksam Damage Insurance. As previously communicated, sales to Fennia represent a purchase price of approximately SEK 800 million and a capital gain of just over SEK 400 million. The deal thereby benefits Folksam Saks customers through a strengthened capital base and a higher solvency ratio.

Folksam Skadeförsäkring conducts non-life insurance operations in Finland and had just over 200 employees at the end of 2017. Premium income amounted to approximately SEK 750 million in 2017. Folksam Sak has been the principal owner of Folksam Damage Insurance since 2012. All the relevant mysteries have given their approval.