Latest news with #pan-Nordic
Yahoo
26-06-2025
- Business
- Yahoo
ERGO completes merger of Nordic insurance operations
ERGO Group, part of Munich Re, has concluded the merger of its Danish travel insurance company, Europæiske Rejseforsikring, and its Norwegian health insurance business, ERGO Forsikring, into a single entity. The combined entity will operate under the brand name ERGO Forsikring, marking a consolidation of ERGO's activities in the Nordic insurance market. The merger will unify the product offerings and market presence of the two entities, providing healthcare and travel insurance to both corporate and individual clients in Denmark, Norway and Sweden. The integration is expected to yield joint distribution networks, enhance business relationships and improve market access in the Nordic region. ERGO Forsikring CEO Ronald Kraule said: 'With ERGO Forsikring A/S as a genuine pan-Nordic insurance player, we will strengthen our position in every local market, providing innovative, simple and tailored solutions to meet the evolving needs of our customers. 'As we bring together our respective expertise in the health and travel segments, underpinned by consequent digitalisation, we will act as a one-stop shop for holistic insurance coverage. With this new setup, we will enhance our service offerings and deliver significant added value for our customers and partners.' In March, Munich Re announced the acquisition of NEXT Insurance at a valuation of $2.6bn (€2.22bn). Upon completion of this transaction, NEXT Insurance will become a part of the ERGO Group portfolio. "ERGO completes merger of Nordic insurance operations " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
28-04-2025
- Business
- Yahoo
Locus Energy acquires 158GWh hydropower portfolio in Norway
Locus Energy, a portfolio company of SEB Nordic Energy, has acquired a 158 gigawatt hours (GWh) hydropower portfolio across Norwegian price areas NO2 to NO5. The acquisition enhances its standing in the Norwegian and Nordic energy markets. The newly acquired portfolio comprises both operational assets and those under construction. The assets will enhance Locus Energy's hydro power portfolio by 158GWh annually, bringing its total hydro generation capacity to 410GWh per year. The strategic acquisition aligns with Locus Energy's broader vision of becoming a pan-Nordic independent power producer with diversified interests in wind, hydro and battery energy storage systems (BESS) across Norway, Sweden and Finland. SEB Nordic Energy portfolio manager Richard Gavel stated: 'The addition of reliable hydropower generation reinforces Locus Energy's long-term strategy with a solid cash flow profile. By expanding strategically within the Nordics and leveraging synergies across technologies and geographies, the company is building a scaleable, resilient platform with long-term value potential. We are excited to support the next growth phase.' Locus Energy aims to optimise market participation by diversifying renewable asset classes within the same price areas. The company intends to manage intermittency effectively and generate a system premium that surpasses the performance of standalone assets. Locus Energy has identified multiple opportunities for continued growth in current markets for 2025. Locus Energy founding partner and CEO Niklas Sörensen stated: 'This acquisition is a strategic step towards building a geographically balanced, technologically diversified, and financially optimised renewable portfolio. With hydropower, wind power and storage assets now strategically positioned across Nordic price areas, we are unlocking a system premium that reinforces our competitive edge across the Nordic power market.' In September 2024, Locus Energy partnered Ingrid Capacity to deploy 196MW of BESS capacity in southern Sweden. "Locus Energy acquires 158GWh hydropower portfolio in Norway" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Bloomberg
13-03-2025
- Business
- Bloomberg
Nordea Bank Buys Carbon Removal Credits in Bid to Scale Market
Nordea Bank Abp has agreed to buy at least 68,000 credits from a project that will capture carbon dioxide and bury it under the North Sea. The purchase of the so-called carbon removal credits represents the first step in a strategy to help support technologies that take CO2 out of the atmosphere, said Peter Sandahl, the bank's head of climate and environment. The pan-Nordic bank aims to build up a large enough portfolio of removal credits to deliver 'a positive carbon contribution' in its own operations by the end of 2030.
