Varig companies choose Frende Insurance
Varig Hadeland Insurance, Varig Orkla Insurance, and Varig Insurance Nordmøre and Romsdal enter into cooperation agreement with Frende Insurance. At the same time, the three Varig companies enter as co-owners of the savings bank-owned insurance company. Savings bank-owned Frende Insurance has been among Norway's highest growing companies in recent years and manages a total insurance portfolio of NOK 3,086 million. Varig Hadeland, Varig Orkla and Varig Nordmøre and Romsdal manage a total insurance portfolio of NOK 575 million and have a total equity of just under NOK 1 billion. Prior to the transaction Sparebanken Vest owns 39.7 per cent of Frende Insurance. For further information, please see Frende Insurance's web page: https://www.frende.no/aktuelt/varig-velger-frende/ (In Norwegian) Sparebanken Vest is Norway's third largest savings bank with more than 600 dedicated and talented employees. Since 1823 we have gained the confidence of customers in the western region of Norway providing a solid market position. We are located at 33 locations in the counties of Vestland and Rogaland. Through our affiliated product companies we are a complete finance house for all our retail and corporate customers. We are proud to be an independent financial group headquartered in Bergen with a central role in much of the value creation that takes place in Western Norway.