December 19, 2017 / 12:08 PM / 9 months ago

BRIEF-Storebrand says regulator consents to Silver transfer

Dec 19 (Reuters) - Storebrand Asa:

* SILVER - APPROVAL FROM NORWEGIAN FINANCIAL SUPERVISORY AUTHORITY

* ‍NORWEGIAN FINANCIAL SUPERVISORY AUTHORITY HAS TODAY CONSENTED TO SOLUTION PROPOSED BY SILVER PENSJONSFORSIKRING​

* ‍APPROVAL COMES AFTER SILVER CUSTOMERS ON DECEMBER 11 APPROVED SOLUTION BY CRITERIA SET BY BOARD OF SILVER UNDER PUBLIC ADMINISTRATION​

* ‍REMAINING INSURANCE CONTRACTS IN SILVER SHALL BE TRANSFERRED TO STOREBRAND AS PART OF ACQUISITION OF SILVER​

* ‍THIS ACQUISITION ASSUMES A SEPARATE PUBLIC APPROVAL, WHICH IS EXPECTED TO BE DETERMINED IN JANUARY 2018​

* ‍TRANSACTION IS EXPECTED TO BE COMPLETED DURING JANUARY/FEBRUARY 2018​ Source text for Eikon: Further company coverage: (Reporting By Terje Solsvik)

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