NORWAY – Insurer and pensions provider Storebrand says it is to revamp its management following the merger with private bank Finansbanken.

Per Kumle will be managing director of the merged entity while Lars Loddesol will become deputy managing director and chief financial officer.

The merger, announced on November 13, will take effect on March 1 2003, the company said in a statement.

Espen Klitzing will be managing director of life insurance and Allan Akerstedt will be managing director of investment management.

The company says its life insurance activities are “well placed for continuing growth”, particularly in areas such as defined contribution occupational pension schemes along with unit linked products and personal risk insurance. It focuses on products for the public sector and sales of individual products to employees of companies that use Storebrand for their pension schemes.