Norway's Storebrand returns to property/casualty market.Nearly two years after selling its stake in a property/casualty joint venture and proclaiming life insurance and savings its core businesses, Norway's Storebrand Storebrand (OSE: STB) is a financial services company in Norway. The company is engaged in three major areas: life insurance, investments and banking. Storebrand will start sale of P&C insurance products to the retail market before the end of 2006. ASA Asa (ā`sə), in the Bible, king of Judah, son and successor of Abijah. He was a good king, zealous in his extirpation of idols. When Baasha of Israel took Ramah (a few miles N of Jerusalem), Asa bought the help of Benhadad of Damascus and is jumping back into the nonlife market. Storebrand said its board approved a plan for the insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. to begin selling property/casualty products in the retail market. The products will be distributed through a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Storebrand Skadeforsikring. The introduction of property/casualty products enhances its range of products and reaffirms its commitment to the retail market. The insurer began its focus on life and savings in 1999, when Storebrand and several other Scandinavian insurers together created a property/casualty joint venture--If P&C Insurance Holding. |
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