Storebrand ASA: Storebrand: Decision in favor of SPP Livförsäkring AB in the dispute with Svenskt Näringsliv in Stockholm City Court

Stockholm City Court has today decided in favor of Storebrand's Swedish daughter company, SPP Livförsäkring AB, in  the dispute against Svenskt Näringsliv. Svenskt Näringsliv, as a customer had filed a law suit regarding the interpretation of insurance contracts in the Defined Benefit (DB) portfolio.

SPP Livförsäkring AB is satisfied that Stockholm City Court has the same interpretation of the insurance contracts as SPP Livförsäkring AB .The verdict will not affect the financial position of SPP Livförsäkring AB as the outcome was as expected.

Svenskt Näringsliv has three weeks to determine whether to appeal the verdict.

Lysaker, 9 March 2012

Contact persons:

Director of Public Affairs Jan Otto Risebrobakken: ([phone]
Public Relation Manager SPP, Åsa Wallenberg ([phone]
Head of Investor Relations Trond Finn Eriksen: ([phone]

 

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Source: Storebrand ASA via Thomson Reuters ONE

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