Norway's lack of clarity in insurance rules spooking investors: Storebrand

Oslo

NORWAY is unnerving investors by failing to give clear signals on the implementation of the next step in insurance industry regulations, according to Storebrand ASA, Norway's largest listed life insurer.

Authorities have surprised the market several times, making investors uncertain about how authorities will implement the Solvency II transitional rules, according to Storebrand chief financial officer Lars Aa Loeddesoel. "The market is, as I have perceived it, also worried about a solvency situation without transitional rules at 100 per cent or under 100 per cent that would reduce the possibility to extract dividend from the business," he said in an interview last week.