SEB completes sale of SEB Pension in Denmark

Following the approval by the Danish Competition Council, Konkurrencerådet, on 30 May 2018, and as earlier communicated on 14 December 2017, SEB divests all shares in SEB Pensionsforsikring A/S and SEB Administration A/S (SEB Pension) to Danica Pension Livsforsikringsaktieselskab (Danica), a subsidiary to Danske Bank.

All conditions for the sale have been fulfilled and the business including employees, customer contracts and systems are transferred from SEB to Danica on 7 June 2018.

The capital gain from the transaction amounted to SEK 3.6bn at closing, and will be presented under items affecting comparability (IAC) in the Q2 2018 income statement. The effect on key group financial ratios, on a pro-forma basis per January - March 2018, would have been limited. The Common Equity Tier 1 ratio would have improved by 0.6 percentage points to 19.6 per cent.


Please see link to a pro-forma financial summary for January - March 2018, excluding SEB Pension in Denmark.