April 24, 2018 / 6:10 AM / 3 months ago

BRIEF-Sampo: Mandatum Life's Sale Of Insurance Portfolio To Danske Cancelled

April 24 (Reuters) - Sampo Oyj:

* MANDATUM LIFE’S SALE OF THE INSURANCE PORTFOLIO TO DANSKE BANK CANCELLED AND CO-OPERATION CONTINUED

* SAYS TRANSFER OF INSURANCE PORTFOLIO AGREED EARLIER WILL NOT TAKE PLACE

* COMMISSION STRUCTURES IN NEW CO-OPERATION AGREEMENT DIFFER FROM ONES USED EARLIER AND MANDATUM LIFE WILL PAY HIGHER COMMISSIONS FOR BOTH NEW SALES AND EXISTING PORTFOLIO

* ON CLOSING OF TRANSACTION, MANDATUM LIFE WILL RECEIVE A TRANSACTION PRICE OF EUR 197 MILLION FROM DANSKE BANK FOR ABOVE ARRANGEMENT

* BY FACT THAT PORTFOLIO REMAINS WITH MANDATUM LIFE, COMPANY’S RESULT IS ESTIMATED TO INCREASE ANNUALLY EUR 20 MILLION COMPARED TO SITUATION WHERE PORTFOLIO WOULD HAVE BEEN TRANSFERRED Source text for Eikon: Further company coverage: (Helsinki Newsroom)

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