Ikano Försäkring and Livförsäkring will be sold to DARAG and Euro Accident, respectively
A share purchase agreement (SPA) for the sale of Ikano Försäkring AB was signed with DARAG, a European run-off insurance specialist, on Friday 17th March. Further, on Wednesday 22nd March a SPA was signed with Euro Accident, a Swedish health insurance company, for the sale of Ikano Livförsäkring AB.
DARAG and Euro Accident will now file applications with Finansinspektionen (Sweden’s financial supervisory authority) who has up to 60 working days to process the ownership and management approval filing (we expect to close the transactions during Q3 2017).
In connection to these transactions, AXA, one of the world’s largest insurance companies, will become Ikano Bank’s new provider of payment protection insurance solutions.
Commercial and operational tasks in relation to these transactions are already initiated in order to properly close the transactions as soon as regulatory and legally possible. In the meanwhile, the concerned parties are focusing on securing the customers' interest in accordance with Ikano's values.
Eventually all job positions at Ikano Försäkring will disappear as a consequence of the transaction with DARAG. Co-workers will be supported until closure in accordance with the Ikano promise to always act on fair terms.
Media questions regarding the sale of Ikano Försäkring
Contact Marie Gällstad, Head of Group Communication on email@example.com or phone: +352 691 488 320.