March, the 14th, 2008
Sampo's P&C insurance subsidiary If acquires a Russian insurer
Sampos P&C insurance subsidiary If has signed an agreement to acquire SOAO Region, a Russian insurance company. SOAO Regions main focus is motor insurance with approximately EUR 23.7 million of premium income. The acquisition price will be within the normal valuation range for similar transactions in the insurance industry and the goodwill from the transaction will be insignificant in relation to If's annual profits.
The acquisition is conditional upon the approval of the Russian Insurance Regulatory and the Russian Anti-Monopoly authorities.
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