We advised Fennia Mutual Insurance Company in its acquisition of Folksam Non-Life Insurance Company from Folksam, Veritas and Aktia Bank. Following approvals by the Competition and Consumer Authority and the Financial Supervisory Authority, the acquisition was completed on 27 November 2018.
Folksam Non-Life Insurance Company’s premium income is approximately EUR 76 million. It has about 95,000 customers and 200 employees.
Fennia provides statutory and voluntary non-life insurances to companies, entrepreneurs and households. The acquisition supports Fennia’s growth strategy and strengthens Fennia’s position on the Finnish non-life insurance market by creating an insurer with 380,000 private and corporate customers.