SPP Pension & Försäkring AB (publ) (SPP) has been refused permission to include a subordinated loan of SEK 700 million in the capital base. In its judgement of 9 December 2015, the Administrative Court of Stockholm has denied SPP permission to include a subordinated loan of SEK 700 million in the capital base. The judgement is in respect of an appeal lodged by SPP against a decision issued by the Swedish Financial Supervisory Authority (FI) on 5 December 2014 in which FI refused permission to include the Subordinated Loan in the capital base. Had SPP been granted permission to include the Subordinated Loan in the capital base, SPP's solvency ratio would have been improved by 0.16 in accordance with current solvency regulations. The judgement also means that, for the time being, SPP will not be able to include the Subordinated Loan in the capital base in accordance with the provisions of Solvens II regulations that come into force on 1 January 2016. The solvency of SPP, calculated in accordance with the provisions of Solvens II, is set to continue to be adequate even without the inclusion of the subordinated loan. SPP will analyse the judgement before deciding whether or not to lodge an appeal. 9 December 2015 Further information is available from: Åsa Wallenberg, Head of Communications Telephone +46 8 451 71 83 asa.wallenberg@spp.se Lars Kramer, Vice President Capital Management, Storebrand Telephone +47 900 68 287 lars.kramer@storebrand.no This information represents the details SPP Pension & Försäkring AB (publ) is required to publish in accordance with the provisions of the Swedish Securities Market Act.
SPP Pension & Försäkring AB (publ): Court ruling Administrative Court of Stockholm
| Source: SPP Livförsäkringar AB