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2014-04-22

ICA Gruppen AB: ICA Bank applies for permit to conduct insurance business

Press release Solna, 23 April 2014

ICA Bank will submit an application to the Swedish Financial
Supervisory Authority for a permit to conduct insurance business. ICA
Bank already offers insurance to private clients but now intends to
conduct non-life insurance operations entirely under its own
management. The CEO of the new non-life insurance company will be Bo
Lagergren, currently Head of Retail Banking at ICA Bank.

The application is for permission to start a limited liability
insurance company as a subsidiary to ICA Bank but with a separate
board of directors. The aim is that the new limited insurance company
will be operational by the end of 2015. The application to the
Swedish Financial Supervisory Authority will be sent shortly.

"Today, ICA Bank has Sweden's most satisfied customers and a complete
offering to the retail market. Many customers would like to have
their banking and insurance in one place and with our own insurance
company we can strengthen loyalty to the whole of ICA," says Per
Strömberg, CEO of ICA Gruppen.

Bo Lagergren has been appointed as CEO of the new company. Bo
Lagergren has worked as Head of Retail Banking at ICA Bank since 2001
and previously held leading positions within Trygg Hansa.

For more information
ICA Gruppen's press service, telephone: +46 10 422 5252

ICA Gruppen AB discloses the information provided herein pursuant to
the Swedish Securities Market Act and/or the Swedish Financial
Instruments Trading Act. The information was submitted for
publication at 08.30 CET on Wednesday, 23 April 2014.

ICA Gruppen AB (publ) is one of the Nordic region's leading retail
companies, with around 2,400 of its own and retailer-owned stores in
Sweden, Norway, Estonia, Latvia and Lithuania. The Group includes the
retail companies ICA Sweden, ICA Norway and Rimi Baltic, ICA Real
Estate, which owns and manages properties and ICA Bank, which offers
financial services to Swedish customers. The Group also includes the
wholly owned portfolio companies Forma Publishing Group and inkClub
and partly owned portfolio companies Cervera, Hemtex and Kjell &
Company. For more information see www.icagruppen.se

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http://news.cision.com/ica-gruppen-ab/r/ica-bank-applies-for-permit-to-c...
http://mb.cision.com/Main/7955/9572110/235572.pdf

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