Press release, 1 October 2024 at 1:00 p.m. EEST

Mandatum Life Insurance Company Limited ("Mandatum Life") and If Livförsäkring AB have successfully completed a portfolio transfer wherein Mandatum Life has transferred to If Livförsäkring's branch in Finland such life insurance contracts that have been sold and managed by If P&C Insurance Ltd's branch in Finland.

The sale of the portfolio concerns approximately 50,000 contracts. The total purchase price is EUR 17.5 million, of which EUR 4.0 million will be included in the result related to risk policies in the third quarter. The rest of the purchase price has already been included in the company's result during the previous quarters. The sale was announced (https://www.mandatum.fi/en/Releases/mandatum-is-selling-a-life-insurance-portfolio-of-approximately-50000-contracts-to-if/) on 27 September 2023.

The portfolio transfer has no effect on customers, and the contracts of the customers in the transferred portfolio will continue as before. Portfolio management in Finland will continue under the If Livförsäkring AB's branch in Finland.

Additional information:

Jukka Kurki
CEO, Mandatum Life Insurance Limited
Tel. +358 50 424 6630
jukka.kurki(a)mandatum.fi
Niina Riihelä
SVP, Communications, brand and sustainability
Tel. +358 40 728 1548
niina.riihela[a]mandatum.fi  

Mandatum in brief
Mandatum is a major financial services provider that combines expertise in wealth management and life insurance.Mandatum offers clients a wide array of services covering asset and wealth management, savings and investment, compensation and rewards as well as pension plans and personal risk insurance. Mandatum offers services to corporate, retail, institutional and wealth management clients.At the centre of Mandatum's success are highly skilled personnel, a strong brand as well as a proven investment track record.
mandatum.fi/en/group (https://www.mandatum.fi/en/group/)