INVIK ACQUIRES THE REINSURANCE COMPANY KORSNÄS RE

7/2/2001 6:00 AM EST

Invik & Co. AB and Korsnäs AB have signed an agreement according to which Invik will acquire Korsnäs` reinsurance company Korsnäs Re S.A. in Luxembourg. The acquisition is subject to necessary regulatory approvals.

Mr Thomas Jönsson, Invik & Co. AB's Managing Director says: "The deal is part of an ongoing process designed to improve Invik's financial operations. The current insurance operations within Invik & Co - i.e. Modern Insurances, Atlantica, Netviq Life and Bilsport & MC - will now be supplemented with a reinsurance captive. This acquisition will enable us to offer our commercial and group scheme customers a wider product range.

For further information, please contact:
Thomas Jönsson, Managing Director, Invik & Co. AB,
Phone. + 45 8 562 000 20


Board of Directors