The Board of Oslo Børs approves Vardia Insurance Group for listing

Insurance and Reinsurance, Markets, Statistics — By on March 26, 2014 at 1:02 PM

osloSE-photo-1532626/03/2014 – At its meeting on 26 March 2014, the Board of Directors of Oslo Børs resolved to admit shares in Vardia Insurance Group ASA to listing.

The Board stipulated that the company prior to the first day of listing must satisfy the requirement for the number of shareholders as set out in Section 2.4.2 of the Oslo Børs Listing Rules. The Board also stipulates that the company must raise at least NOK 80 million of new capital through its planned primary share issue prior to the first day of listing.

The Board authorized the Chief Executive Officer of Oslo Børs to fix the date of the first day of listing, which is to be no later than9 May 2014.

Vardia expects the first day of the Listing to be on or about 8 April and that the bookbuilding period for the initial public offering ends 27 March (Approved prospectus and launch of bookbuilding).

About Vardia Insurance Group ASA:
The Vardia Group consist of Vardia Insurance Group ASA and the subsidiaries Vardia Forsikring AS (Norway), Vardia Försäkring AB (Sweden), Vardia Insurance Agency A/S (Denmark), Vardia Agencies AS (Norway) and Saga Forsikring AS (Norway). The Group has approximately 380 employees with offices in Oslo, Sortland, Hamar, Molde, Lysaker, Porsgrunn, Stockholm, Luleå, Skellefteå, Sundsvall and Copenhagen.

Vardia Insurance Group ASA is a Norwegian insurance company with main focus on service and distribution of insurance products within Private Lines and Smaller Commercial Lines. In addition, Vardia distributes some niche products, like Aquaculture, Marine Hull and Cargo, on behalf of Lloyd’s, through Vardia Agencies AS.

Vardia’s concept is unique, and the group experiences a significant demand for its service. A strong growth is expected in Scandinavia the next years.

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