Divestiture of PenSam Forsikring

MHS Corporate Finance acted as exclusive financial advisor to PenSam Pension on the divestiture of PenSam Forsikring to Gjensidige Forsikring

PenSam Pension has entered into an agreement to divest its subsidiary PenSam Forsikring, a Danish P&C insurance provider, to Gjensidige Forsikring, a leading Nordic insurance group. As part of the sale, the 26,000 customers and 30 employees in PenSam Forsikring will be transferred to Gjensidige Forsikring. The transaction is subject to customary regulatory approvals.

Gjensidige has entered into a partnership agreement with PenSam Pension and PenSam Bank with respect to distribution of P&C insurance in Denmark.

“For more than 10 years, PenSam Forsikring has offered attractive and competitive insurance products to PenSam’s members. Therefore, I am pleased that we have found an experienced and well-run partner in Gjensidige, who will continue to offer insurance products that meet the needs of PenSam’s members.”

— Torsten Fels, CEO PenSam Group

For more information about the transaction, please visit here.

About PenSam Pension

The PenSam Group consists of labor market pensions as well as banking and insurance operations with more than 480,000 members. For the past 10 years, PenSam Forsikring has offered P&C insurance to the members of PenSam Pension, PenSam Bank, and their respective families.

About Gjensidige Forsikring

Gjensidige Forsikring is a leading Nordic insurance group owned by the customers. The Group has been listed on the Oslo Stock Exchange since 2010. Gjensidige has approximately 4,200 employees and offers insurance products in Norway, Denmark, Sweden, and the Baltic countries.