Landsbankinn to acquire TM tryggingar from Kvika Bank for $208m.

Landsbankinn, an Icelandic bank, agreed to acquire TM tryggingar, a provider of insurance and financial services, from Kvika Bank, a financial services provider, for $208m. “The purchase of TM by the Bank opens numerous opportunities and we are excited to welcome TM’s personnel to our strong team here at the Bank. Our aim is to simplify life for customers by offering all financial services in one place and I am convinced that the Bank’s profitability targets for the purchase will be achieved," Lilja Björk Einarsdóttir, Landsbankinn CEO.