Suomi Mutual Sells its Baltic Subsidiary

Suomi Mutual sold its Baltic subsidiary Seesam Life Insurance SE to Vienna Insurance Group from Austria on 27 February 2008. Suomi Mutual issued a press release on 19 December 2007 on having agreed on a deal to sell its life insurance companies in the Baltic countries and Poland to Vienna Insurance Group, adding that the sale could not be concluded until certain official permits had been obtained.

The permits have now been obtained for the Baltic countries and deals have been concluded concerning the single European company Seesam Life Insurance SE, which is domiciled in Estonia, with branch offices in Latvia and Lithuania.

Permits for FinLife S.A are expected to come through in April.