13.3.2015

Nordea Life Assurance Finland Ltd – Transfer of a Finnish Group Pension Portfolio

We advised Nordea Life Assurance Finland Ltd in an assignment of a Finnish group pension portfolio to another life insurance company through a portfolio transfer in accordance with the Finnish Insurance Companies Act.

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We advised the Savings Banks Group on an arrangement whereby the shares in Sp-Henkivakuutus Oy were sold to Henki-Fennia and at the same time the parties agreed on a long-term distribution cooperation for insurance savings and loan protection products. The closing of the transaction remains subject to regulatory approvals. Sb Life Insurance is a domestic life insurance company, established in 2007, offering insurance savings and risk insurance products to private customers and companies. The Savings Banks and Oma Säästöpankki Oyj act as agents for Sp-Life Insurance. Henki-Fennia is a subsidiary of Keskinäinen Vakuutusyhtiö Fennia, specialising in voluntary life, pension and savings insurance.
Case published 11.4.2025
Castrén & Snellman is the trusted partner for companies in the insurance sector both in Finland and internationally. We have assisted our clients in matters such as obtaining authorisation for activities transactions, such as insurance portfolio transfers and ownership control processes system acquisitions disputes outsourcing arrangements sales, marketing and insurance distribution matters. We have extensive experience in the insurance sector and decades of collaboration with supervisory authorities. We offer our clients our internationally recognised competence, clear thinking and solution-oriented experts.
Case published 5.12.2023
We assisted Finnish Mutual Patient Insurance Company (FMPIC) in its procurement of discretionary asset management services. The procurement was conducted as an open procedure in accordance with the Public Procurement Act (1397/2016). In the procurement, FMPIC selected two asset managers to whom its assets are to be allocated. The terms of the tendered agreements are indefinite, and they are intended to be in force as of the beginning of 2023. Based on the tender procedure, OP Varainhoito Oy and Nordea Bank Oyj were selected as the suppliers of the services.
Case published 27.9.2022
We assisted Finnish Mutual Patient Insurance Company (FMPIC) in its procurement of a SaaS-based insurance platform. The procurement was conducted as a negotiation procedure with Swedish iFACTS Ab selected as the supplier of the platform. The new platform is expected to be launched already in autumn 2022. With the procurement of the insurance platform, FMPIC aims for better and more reliable management and processing of customer relations and insurance policies. The goal is to reduce the risks associated with managing customer relations and policies, to improve the data security and data protection of customer and insurance information and to meet regulatory requirements. FMPIC was assisted in the procurement and contract negotiations by our public procurement experts Johanna Lähde and Atte Andersin, Pia Ek and Miika Junttila from the data and technology team and by our insurance expert, Sami Lommi. 
Case published 31.5.2022