Fennia Life to acquire Sb Life Insurance from Savings Banks Group.

Fennia Life, a Finnish, client-owned insurance company, agreed to acquire Sb Life Insurance, a Finnish life insurance company, from Savings Banks Group, one of the largest banking groups in the world. Financial terms were not disclosed. The planned transaction implements Savings Banks Group's new group strategy approved in the summer of 2024, which aims at growth and the best service in the banking sector. The purpose of the Savings Banks Group is to promote the financial well-being of customers, and cooperation with Fennia will play an important role therein. In addition, the transaction will release capital for projects supporting the implementation of the strategy. When completed, the transaction will have a positive impact on Savings Banks Group's result for the financial year 2025.