TrygVesta sells marine hull business to RSA’s subsidiary Codan

 TrygVesta Forsikring A/S and Codan Forsikring A/S have agreed that Codan, the Danish subsidiary of RSA Insurance Group, for a total consideration of DKK 50m will purchase the renewal rights for TrygVesta's portfolio of marine hull insurance.  The annual premium income for the segment was approximately DKK 400m in 2009 and consists of marine hull insurance contracts for the Nordic market. The portfolio represents approximately 7% of the Nordic market for marine hull insurance.  Together with the renewal rights TrygVesta's marine hull organisation in Ballerup, Bergen and Stockholm, a total of 24 employees, will be transferred to Codan.  The transfer is expected to be completed during the spring of 2010 and is subject to approval by the authorities.   Additional information: For further information visit www.trygvesta.com or contact our Communications department;  Communication Director Gerhard Dall Phone +45 3056 3072 or e-mail [email protected]   TrygVesta is the leading Nordic provider of “peace of mind” solutions with property & casualty insurance operations in Denmark, Norway, Sweden and Finland. TrygVesta is listed on OMX Copenhagen Stock Exchange and 60% of the shares are held by Tryg i Danmark smba.  Copyright © 2010 OMX AB (publ).