Vital Forsikring
Encyclopedia
Vital Forsikring ASA, branded as Vital is Norway's
largest life insurance
and pension insurance
company, and part of the DnB NOR Group
. Though Vital has roots back to 1847, it was created in its present form by a merger between Vital and Gjensidige NOR
's life insurance section after the mother companies merged in 2003. Vital has its headquarters in Bergen
, Norway and has total assets of .
Vital also owns a large portfolio of real estate
, valued about NOK&nsbp;24 billion. This includes the entire portfolio of real estate that is owned by the entire DnB NOR group in Norway.
was created. Gjensidige merged with Glitne (1968), Samtrygd (1985), Forenede Forsikring (1992) and Sparebanken NOR Forsikring
(1999).
The brand name Vital was created in 1990 when Hygea (founded in 1884) and Norsk Kollektiv Pensjonskasse (founded in 1938) merged to found Vital. Vital was bought by Den norske Bank
in 1996. In 2003, after the mother companies of Gjensidge and Vital, respectively Den norske Bank and Gjensidige NOR
were merged, the two insurance companies were also merged.
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...
largest life insurance
Life insurance
Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...
and pension insurance
Pension
In general, a pension is an arrangement to provide people with an income when they are no longer earning a regular income from employment. Pensions should not be confused with severance pay; the former is paid in regular installments, while the latter is paid in one lump sum.The terms retirement...
company, and part of the DnB NOR Group
DnB NOR
DNB ASA is Norway's largest financial services group with total combined assets of more than NOK 2.0 trillion and a market capitalisation NOK 102 billion as per December the 31st. The Group includes brands such as DNB, Vital, Nordlandsbanken, Cresco, Postbanken, DnB NORD and Carlson...
. Though Vital has roots back to 1847, it was created in its present form by a merger between Vital and Gjensidige NOR
Gjensidige NOR
Gjensidige NOR was a Norwegian bank and insurance company that was in existence between 1999 and 2003. The company was created when the two savings banks Sparebanken NOR and Gjensidige were merged in 1999. In 2002 Norwegian savings banks were allowed to become public limited company and was...
's life insurance section after the mother companies merged in 2003. Vital has its headquarters in Bergen
Bergen
Bergen is the second largest city in Norway with a population of as of , . Bergen is the administrative centre of Hordaland county. Greater Bergen or Bergen Metropolitan Area as defined by Statistics Norway, has a population of as of , ....
, Norway and has total assets of .
Vital also owns a large portfolio of real estate
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...
, valued about NOK&nsbp;24 billion. This includes the entire portfolio of real estate that is owned by the entire DnB NOR group in Norway.
History
Vital has its roots back to 1847 when GjensidigeGjensidige
Gjensidige Forsikring ASA is a Norwegian insurance company. Though the company has roots back to 1689 when the fire treasury at Nes was founded, Gjensidige in its present form was founded in 2003 when the insurance division of Gjensidige NOR was not made part of its merger with Den norske Bank...
was created. Gjensidige merged with Glitne (1968), Samtrygd (1985), Forenede Forsikring (1992) and Sparebanken NOR Forsikring
Sparebanken NOR
Union Bank of Norway branded as Sparebanken NOR was Norway's largest savings bank between 1990 and 1999. The bank was created as a merger between Sparebanken ABC and four other regional savings banks. The new bank had its headquarters in Oslo and was in existence until 1999 when it merged with...
(1999).
The brand name Vital was created in 1990 when Hygea (founded in 1884) and Norsk Kollektiv Pensjonskasse (founded in 1938) merged to found Vital. Vital was bought by Den norske Bank
Den norske Bank
Den norske Bank or DnB was a Norwegian bank that existed between 1990 and 2003 when it merged with Gjensidige NOR to form the present DnB NOR...
in 1996. In 2003, after the mother companies of Gjensidge and Vital, respectively Den norske Bank and Gjensidige NOR
Gjensidige NOR
Gjensidige NOR was a Norwegian bank and insurance company that was in existence between 1999 and 2003. The company was created when the two savings banks Sparebanken NOR and Gjensidige were merged in 1999. In 2002 Norwegian savings banks were allowed to become public limited company and was...
were merged, the two insurance companies were also merged.