Pohjola Bank plc
COMPANY RELEASE, Release Category: Stock Exchange Release
30 September 2010, at 3.10 pm
Addition to Stock Exchange Release: Pohjola Insurance Ltd and Pohjantähti Mutual Insurance Company Are Planning to Merge
At 8.30 am on 29 September, Pohjola Bank plc (Pohjola) announced that Pohjola Insurance Ltd and Pohjantähti Mutual Insurance Company (Pohjantähti) are planning to merge. Pohjola supplements the release with Pohjantähti's financial information as shown in the table below.
| Pohjantähti Group key figures and ratios | |||
| MEUR | 2007 | 2008 | 2009 |
| Insurance premium revenue | 68.1 | 69.6 | 72.3 |
| Balance on technical account | 4.6 | 5.8 | 7.3 |
| Profit/loss for the financial year | 1.3 | -4.8 | 6.7 |
| Combined ratios** excl. unwinding of discount | 93.2% | 91.7% | 89.8% |
| Solvency ratio | 42.6% | 36.6% | 51.5% |
| Net investment return on capital invested (at fair value) | 3.5 % | -6.9% | 6.2% |
| Total assets 31 Dec. | 118.1 | 121.4 | 136.6 |
* Balance on technical account = insurance business operating result
**Combined ratio = ratio of claims incurred and operating expenses to insurance premium revenue
Pohjola Bank plc
Carina Geber-Teir
Chief Communications Officer
For further information, please contact:
Jouko Pölönen, CFO, Pohjola, tel. +358 (0)10 252 3405
Petri Suni, Managing Director, Pohjantähti, tel. +358 (0)20 763 4069
JAKELU
NASDAQ OMX Helsinki
London Stock Exchange
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pohjola.fi, op.fi