Finland’s OP-Pohjola
Group Central Cooperative has purchased the entire share stock of
the new Finnish life insurance company Aurum Investment Insurance
(Aurum) from Skandia Life Assurance Company, which is part of the
Old Mutual Group.

Skandia Life’s portfolio
of 100,000 pension, savings and investment policies was transferred
to Aurum, which became a subsidiary of OP-Pohjola Group Central
Cooperative on 31 August 2012. As at 30 June 2012, the Finnish
branch had gross assets of €1.3 billion.

Commenting on the deal,
OP Life Assurance Company’s managing director Jarmo Kuisma, said:
“Skandia Life’s customers will gain access to OP-Pohjola Group’s
comprehensive financial services and a wide range of loyalty

From the customer’s
viewpoint, OP-Pohjola Group said the most visible change is that
the company name will change from Skandia Life to Aurum before the
turn of the year.

OP-Pohjola Group is made
up of some 200 member cooperative banks and OP-Pohjola
Group Central Cooperative which they own, including its
subsidiaries and closely related companies.