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Pohjola Pankki Oyj: OP and Suomi Mutual to negotiate over transfer of the pension insurance portfolio

The Board of Directors of Suomi Mutual Life Assurance Company (Suomi Mutual)
has decided to enter into negotiation over the transfer of the individual
pension insurance portfolio to OP Life Assurance Company Ltd. The parties aim
to draw up a plan for the transfer of the insurance portfolio during March
and submit the case to the shareholders' meetings during the spring.

OP and Suomi Mutual will inform of the possible transfer of the portfolio as a
result of the negotiation during the spring. For the time being, this
transaction will not cause any direct changes and will not require any action
on the part of Suomi Mutual's customers.

Suomi Mutual's individual pension insurance portfolio consists of almost
40,000 insurance contracts its size is some 3.2 billion euros. OP has managed
the insurance portfolio for 10 years now and been in charge of customer
service for Suomi Mutual's customers.

The negotiation over the portfolio transfer relates to the controlled rundown
of Suomi Mutual operating as a run-off company.

For more information, please contact:


Customer Service, tel. 010 253 6110 (weekdays 8 am - 6 pm)


Karri Alameri, Executive Vice President, Wealth Management, OP / media
contacts, tel. 050 523 9904

Jari Sokka, President and CEO, Suomi Mutual,jari.sokka@suomi-yhtio.fi, tel.
010 253 2150 or 0400 703620

OP Financial Group is Finland's leading financial services group providing a
unique range of banking, wealth management and insurance services.
OP's mission is to promote the sustainable prosperity, security and wellbeing
of its owner-customers, customers and operating regions.
Its objective is to offer the best and most versatile package of loyal
customer benefits on the market.
OP Financial Group consists of about 180 member cooperative banks, its central
cooperative OP Cooperative, and the latter's subsidiaries and affiliates.
The Group has a staff of 12,000 and
4.3 million customers.


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Pohjola Pankki Oyj via Globenewswire


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