If P&C Insurance
Encyclopedia
If P&C Insurance is a property
and casualty insurance company with approximately 3.8 million customers in Sweden
, Norway
, Finland
, Denmark
, Estonia
, Latvia
, Lithuania
and Russia
. The Group has gross premiums written
of SEK
39 billion and 7,000 employees.
If P&C Insurance was formed in 1999 through the merger of the property and casualty insurance operations of Storebrand
of Norway and Skandia
of Sweden. In 2001, If and Sampo
’s property and casualty insurance operations merged. Torbjörn Magnusson was appointed President and CEO a year later. In the Spring of 2004, Sampo acquired Storebrand’s, Skandia’s and Skandia Liv’s holdings of If shares.
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
and casualty insurance company with approximately 3.8 million customers in Sweden
Sweden
Sweden , officially the Kingdom of Sweden , is a Nordic country on the Scandinavian Peninsula in Northern Europe. Sweden borders with Norway and Finland and is connected to Denmark by a bridge-tunnel across the Öresund....
, Norway
Norway
Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...
, Finland
Finland
Finland , officially the Republic of Finland, is a Nordic country situated in the Fennoscandian region of Northern Europe. It is bordered by Sweden in the west, Norway in the north and Russia in the east, while Estonia lies to its south across the Gulf of Finland.Around 5.4 million people reside...
, Denmark
Denmark
Denmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...
, Estonia
Estonia
Estonia , officially the Republic of Estonia , is a state in the Baltic region of Northern Europe. It is bordered to the north by the Gulf of Finland, to the west by the Baltic Sea, to the south by Latvia , and to the east by Lake Peipsi and the Russian Federation . Across the Baltic Sea lies...
, Latvia
Latvia
Latvia , officially the Republic of Latvia , is a country in the Baltic region of Northern Europe. It is bordered to the north by Estonia , to the south by Lithuania , to the east by the Russian Federation , to the southeast by Belarus and shares maritime borders to the west with Sweden...
, Lithuania
Lithuania
Lithuania , officially the Republic of Lithuania is a country in Northern Europe, the biggest of the three Baltic states. It is situated along the southeastern shore of the Baltic Sea, whereby to the west lie Sweden and Denmark...
and Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
. The Group has gross premiums written
Gross premiums written
When a non-life insurance company closes a contract to provide insurance against loss, the revenues expected to be received over the life of the contract are called gross premiums written...
of SEK
Swedish krona
The krona has been the currency of Sweden since 1873. Both the ISO code "SEK" and currency sign "kr" are in common use; the former precedes or follows the value, the latter usually follows it, but especially in the past, it sometimes preceded the value...
39 billion and 7,000 employees.
If P&C Insurance was formed in 1999 through the merger of the property and casualty insurance operations of Storebrand
Storebrand
Storebrand is a financial services company in Norway. By volume, the company's main activities are related to life insurance and pension savings. However, the company also has major divisions working on investments, banking and, since 2006, P&C insurance products...
of Norway and Skandia
Skandia
Skandia is a Swedish insurance company that was started in 1855. It has operations in Europe, Latin America, Asia and Australia. Skandia also operates an internet bank called Skandiabanken....
of Sweden. In 2001, If and Sampo
Sampo
In Finnish mythology, the Sampo or Sammas was a magical artifact of indeterminate type constructed by Ilmarinen that brought good fortune to its holder...
’s property and casualty insurance operations merged. Torbjörn Magnusson was appointed President and CEO a year later. In the Spring of 2004, Sampo acquired Storebrand’s, Skandia’s and Skandia Liv’s holdings of If shares.