Circular No. 14/99


October 1999


TO THE MEMBERS



Dear Sirs,

POSSIBLE JOINT VENTURE WITH THE NEW NORDIC P&C INSURANCE COMPANY, "IF...AB"

At its meeting on 24 October 1999 in Tokyo your Committee authorised the Executive Committee of the Association in close co-operation with the Administration to start negotiations with "if�AB" with a view to examine together the possibilities of forming a jointly owned management company through which to manage the operation of "if�AB�s" marine and energy division and of Gard. "if� AB" is the name of the company founded by the amalgamation of the non-life interests of Skandia, including Vesta Marine & Energy, Storebrand and Pohjola.

Attached to this Circular is the
joint press release issued by "if�AB" and Gard on Sunday 24 October 1999.

Yours faithfully,
ASSURANCEFORENINGEN GARD
-gjensidig-

John G. Bernander
Managing Director